Cibc World Markets Corp Purchases Shares of 9,029 Four Corners Property Trust, Inc. (NYSE:FCPT)

Cibc World Markets Corp purchased a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,029 shares of the financial services provider's stock, valued at approximately $245,000.

Several other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC lifted its holdings in Four Corners Property Trust by 91.2% during the 4th quarter. SG Americas Securities LLC now owns 9,872 shares of the financial services provider's stock worth $268,000 after buying an additional 4,708 shares during the period. Geode Capital Management LLC raised its position in shares of Four Corners Property Trust by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,357,175 shares of the financial services provider's stock worth $69,101,000 after acquiring an additional 27,552 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Four Corners Property Trust by 1.3% in the fourth quarter. Bank of New York Mellon Corp now owns 891,425 shares of the financial services provider's stock worth $24,193,000 after acquiring an additional 11,131 shares during the period. Charles Schwab Investment Management Inc. increased its position in Four Corners Property Trust by 6.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,612,978 shares of the financial services provider's stock valued at $43,776,000 after purchasing an additional 94,903 shares during the period. Finally, Citigroup Inc. increased its position in Four Corners Property Trust by 21.0% during the 3rd quarter. Citigroup Inc. now owns 201,872 shares of the financial services provider's stock valued at $5,917,000 after purchasing an additional 35,059 shares during the period. Institutional investors and hedge funds own 98.66% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JMP Securities reissued a "market perform" rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. Barclays dropped their price objective on Four Corners Property Trust from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company upped their target price on Four Corners Property Trust from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Monday, March 10th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Four Corners Property Trust presently has a consensus rating of "Moderate Buy" and an average target price of $30.20.

Four Corners Property Trust Stock Up 0.2 %

Shares of NYSE FCPT traded up $0.05 during trading on Friday, hitting $28.52. 420,284 shares of the company traded hands, compared to its average volume of 583,416. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 26.65 and a beta of 1.16. The business's fifty day moving average is $28.11 and its 200 day moving average is $28.37. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.11 and a current ratio of 0.11. Four Corners Property Trust, Inc. has a fifty-two week low of $22.38 and a fifty-two week high of $30.93.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.16. Four Corners Property Trust had a return on equity of 7.54% and a net margin of 37.48%. Equities research analysts predict that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date is Monday, March 31st. Four Corners Property Trust's dividend payout ratio is currently 132.71%.

About Four Corners Property Trust

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.