Citigroup Inc. Acquires 35,059 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Citigroup Inc. lifted its stake in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 21.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 201,872 shares of the financial services provider's stock after acquiring an additional 35,059 shares during the quarter. Citigroup Inc. owned approximately 0.21% of Four Corners Property Trust worth $5,917,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of FCPT. Price T Rowe Associates Inc. MD increased its position in Four Corners Property Trust by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,801 shares of the financial services provider's stock worth $1,513,000 after purchasing an additional 3,268 shares during the last quarter. Blue Trust Inc. increased its holdings in Four Corners Property Trust by 1,469.1% in the second quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider's stock worth $91,000 after buying an additional 3,467 shares during the last quarter. Boston Trust Walden Corp raised its position in Four Corners Property Trust by 18.7% during the second quarter. Boston Trust Walden Corp now owns 1,216,760 shares of the financial services provider's stock valued at $30,017,000 after acquiring an additional 191,259 shares in the last quarter. Louisiana State Employees Retirement System grew its position in Four Corners Property Trust by 3.1% in the second quarter. Louisiana State Employees Retirement System now owns 46,300 shares of the financial services provider's stock worth $1,142,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Four Corners Property Trust by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 986,291 shares of the financial services provider's stock worth $24,332,000 after purchasing an additional 22,792 shares in the last quarter. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Four Corners Property Trust Stock Performance

Shares of NYSE FCPT traded down $0.77 during mid-day trading on Monday, hitting $28.94. The company had a trading volume of 561,958 shares, compared to its average volume of 515,228. Four Corners Property Trust, Inc. has a 12 month low of $22.38 and a 12 month high of $30.93. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a market cap of $2.80 billion, a P/E ratio of 27.05 and a beta of 1.11. The business's 50-day simple moving average is $28.76 and its 200-day simple moving average is $27.25.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.14). The firm had revenue of $66.79 million for the quarter, compared to analyst estimates of $63.50 million. Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. Four Corners Property Trust's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 EPS. As a group, analysts predict that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current fiscal year.

Four Corners Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.355 dividend. This is a boost from Four Corners Property Trust's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.91%. Four Corners Property Trust's dividend payout ratio is currently 128.97%.

Analysts Set New Price Targets

Several equities analysts have commented on FCPT shares. UBS Group started coverage on Four Corners Property Trust in a report on Thursday, November 14th. They set a "buy" rating and a $33.00 price target on the stock. Wells Fargo & Company reiterated an "overweight" rating and issued a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. Raymond James increased their target price on Four Corners Property Trust from $27.00 to $29.00 and gave the company an "outperform" rating in a research note on Wednesday, August 21st. JMP Securities reaffirmed a "market perform" rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Finally, Evercore ISI upped their price target on Four Corners Property Trust from $26.00 to $28.00 and gave the stock an "in-line" rating in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $30.50.

About Four Corners Property Trust

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.