Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its position in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 211.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 159,630 shares of the financial services provider's stock after purchasing an additional 108,345 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.17% of Four Corners Property Trust worth $4,679,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Four Corners Property Trust by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider's stock valued at $106,000 after acquiring an additional 921 shares during the period. Blue Trust Inc. grew its stake in Four Corners Property Trust by 1,469.1% in the 2nd quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider's stock worth $91,000 after acquiring an additional 3,467 shares during the period. GAMMA Investing LLC grew its stake in Four Corners Property Trust by 24.0% in the 3rd quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider's stock worth $123,000 after acquiring an additional 814 shares during the period. Cape ANN Savings Bank purchased a new stake in Four Corners Property Trust in the 3rd quarter worth approximately $200,000. Finally, ZWJ Investment Counsel Inc. purchased a new stake in Four Corners Property Trust in the 3rd quarter worth approximately $208,000. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Up 0.3 %

Shares of NYSE:FCPT traded up $0.08 during midday trading on Friday, hitting $29.25. 427,090 shares of the company's stock traded hands, compared to its average volume of 654,141. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.17. The company has a market cap of $2.83 billion, a PE ratio of 27.34 and a beta of 1.11. The firm's fifty day moving average price is $28.86 and its two-hundred day moving average price is $27.05. Four Corners Property Trust, Inc. has a twelve month low of $22.38 and a twelve month high of $30.93.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its earnings results 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). Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The business had revenue of $66.79 million for the quarter, compared to analyst estimates of $63.50 million. During the same quarter in the previous year, the firm posted $0.42 EPS. The business's revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts anticipate that Four Corners Property Trust, Inc. will post 1.66 EPS for the current fiscal year.

Four Corners Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.355 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.42 dividend on an annualized basis and a yield of 4.85%. This is a positive change from Four Corners Property Trust's previous quarterly dividend of $0.35. Four Corners Property Trust's payout ratio is currently 128.97%.

Wall Street Analyst Weigh In

Several research firms have commented on FCPT. JMP Securities reaffirmed a "market perform" rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. UBS Group began coverage on shares of Four Corners Property Trust in a research note on Thursday, November 14th. They set a "buy" rating and a $33.00 price objective for the company. Wells Fargo & Company reissued an "overweight" rating and set 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 boosted their price objective on shares of 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. Finally, Evercore ISI boosted their price objective on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the company an "in-line" rating in a research note on Wednesday, August 28th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.50.

Four Corners Property Trust Company Profile

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.