Connor Clark & Lunn Investment Management Ltd. Sells 15,939 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Connor Clark & Lunn Investment Management Ltd. decreased its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 10.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 143,691 shares of the financial services provider's stock after selling 15,939 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.15% of Four Corners Property Trust worth $3,900,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Thrivent Financial for Lutherans raised its position in Four Corners Property Trust by 6.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 349,221 shares of the financial services provider's stock valued at $10,236,000 after purchasing an additional 20,028 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Four Corners Property Trust by 91.2% in the fourth quarter. SG Americas Securities LLC now owns 9,872 shares of the financial services provider's stock valued at $268,000 after purchasing an additional 4,708 shares in the last quarter. 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 holdings in 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 valued at $24,193,000 after buying an additional 11,131 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Four Corners Property Trust by 6.3% in the fourth 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 acquiring an additional 94,903 shares during the last quarter. 98.66% of the stock is owned by institutional investors.

Remove Ads

Four Corners Property Trust Trading Up 1.4 %

Four Corners Property Trust stock traded up $0.39 during mid-day trading on Thursday, hitting $28.49. 887,176 shares of the company's stock were exchanged, compared to its average volume of 544,433. 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 quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $2.85 billion, a P/E ratio of 26.63 and a beta of 1.16. The company's 50 day simple moving average is $27.92 and its 200-day simple moving average is $28.40.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share for the quarter, beating 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, equities analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

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

Analyst Upgrades and Downgrades

FCPT has been the topic of a number of analyst reports. JMP Securities reissued a "market perform" rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. Barclays cut their target price 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 boosted their target price on Four Corners Property Trust from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Monday, March 10th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Four Corners Property Trust currently has an average rating of "Moderate Buy" and an average target price of $30.20.

Four Corners Property Trust Company 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.