Cornercap Investment Counsel Inc. Acquires New Shares in Four Corners Property Trust, Inc. (NYSE:FCPT)

Cornercap Investment Counsel Inc. bought a new position in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,010 shares of the financial services provider's stock, valued at approximately $299,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its position in shares of Four Corners Property Trust by 234.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the financial services provider's stock worth $32,000 after buying an additional 817 shares during the period. Smartleaf Asset Management LLC boosted its position in Four Corners Property Trust by 165.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,379 shares of the financial services provider's stock worth $38,000 after acquiring an additional 860 shares during the period. VSM Wealth Advisory LLC bought a new position in shares of Four Corners Property Trust in the fourth quarter worth $39,000. Synergy Investment Management LLC bought a new position in Four Corners Property Trust during the 4th quarter valued at $48,000. Finally, Eagle Bay Advisors LLC boosted its holdings in Four Corners Property Trust by 25.0% during the fourth quarter. Eagle Bay Advisors LLC now owns 2,125 shares of the financial services provider's stock worth $58,000 after buying an additional 425 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FCPT shares. JMP Securities restated a "market perform" rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Wells Fargo & Company upped their price target on shares of 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. Finally, Barclays cut their target price on shares of 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Four Corners Property Trust currently has an average rating of "Moderate Buy" and an average price target of $30.20.

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Four Corners Property Trust Stock Up 0.8 %

Four Corners Property Trust stock traded up $0.22 during trading hours on Thursday, hitting $28.68. The company had a trading volume of 241,694 shares, compared to its average volume of 586,619. Four Corners Property Trust, Inc. has a fifty-two week low of $22.38 and a fifty-two week high of $30.93. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.11 and a quick ratio of 0.11. The firm has a market capitalization of $2.87 billion, a P/E ratio of 26.80 and a beta of 0.93. The firm's fifty day moving average is $28.17 and its 200-day moving average is $28.35.

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 net margin of 37.48% and a return on equity of 7.54%. On average, research analysts forecast that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.355 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.42 annualized dividend and a dividend yield of 4.95%. Four Corners Property Trust's payout ratio is 132.71%.

Four Corners Property Trust Profile

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.