Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Purchased by Fmr LLC

FMR LLC grew its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 30.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,930,746 shares of the financial services provider's stock after purchasing an additional 3,268,064 shares during the period. FMR LLC owned approximately 14.40% of Four Corners Property Trust worth $408,310,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new stake in shares of Four Corners Property Trust in the third quarter valued at approximately $51,000. Mirae Asset Global Investments Co. Ltd. boosted 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 worth $106,000 after purchasing an additional 921 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Four Corners Property Trust by 1,469.1% during the 2nd quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider's stock worth $91,000 after purchasing an additional 3,467 shares during the period. GAMMA Investing LLC increased its holdings in shares of 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 valued at $123,000 after purchasing an additional 814 shares in the last quarter. Finally, Cape ANN Savings Bank acquired a new stake in shares of Four Corners Property Trust in the third quarter valued at about $200,000. Institutional investors and hedge funds own 98.66% of the company's stock.

Four Corners Property Trust Price Performance

NYSE:FCPT traded up $0.17 during trading hours on Friday, reaching $29.71. 475,496 shares of the company traded hands, compared to its average volume of 515,026. 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's 50-day moving average is $28.78 and its 200-day moving average is $27.19. The stock has a market cap of $2.87 billion, a P/E ratio of 27.77 and a beta of 1.11. Four Corners Property Trust, Inc. has a 1-year low of $22.38 and a 1-year high of $30.93.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.14). The company had revenue of $66.79 million during the quarter, compared to analysts' expectations of $63.50 million. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The firm's revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 earnings per share. Equities research analysts expect 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 declared 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 is an increase from Four Corners Property Trust's previous quarterly dividend of $0.35. This represents a $1.42 annualized dividend and a yield of 4.78%. Four Corners Property Trust's payout ratio is 128.97%.

Analysts Set New Price Targets

FCPT has been the topic of a number of research analyst reports. Wells Fargo & Company restated an "overweight" rating and set a $32.00 target price (up from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. 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. Raymond James lifted their price objective on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an "outperform" rating in a report on Wednesday, August 21st. JMP Securities reissued a "market perform" rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Finally, UBS Group initiated coverage on Four Corners Property Trust in a research note on Thursday, November 14th. They set a "buy" rating and a $33.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price 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.