Franklin Resources Inc. Acquires 9,120 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Franklin Resources Inc. grew its stake in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 32.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,574 shares of the financial services provider's stock after buying an additional 9,120 shares during the period. Franklin Resources Inc.'s holdings in Four Corners Property Trust were worth $1,020,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Stifel Financial Corp lifted its holdings in shares of Four Corners Property Trust by 15.7% during the third quarter. Stifel Financial Corp now owns 23,370 shares of the financial services provider's stock worth $685,000 after buying an additional 3,175 shares during the last quarter. MML Investors Services LLC boosted its holdings in Four Corners Property Trust by 5.6% in the 3rd quarter. MML Investors Services LLC now owns 11,881 shares of the financial services provider's stock valued at $348,000 after purchasing an additional 635 shares during the period. Barclays PLC grew its position in Four Corners Property Trust by 109.5% in the 3rd quarter. Barclays PLC now owns 156,021 shares of the financial services provider's stock worth $4,572,000 after purchasing an additional 81,565 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Four Corners Property Trust by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,357,175 shares of the financial services provider's stock worth $69,101,000 after purchasing an additional 27,552 shares during the period. Finally, Sanctuary Advisors LLC raised its position in shares of Four Corners Property Trust by 44.9% during the third quarter. Sanctuary Advisors LLC now owns 27,967 shares of the financial services provider's stock valued at $818,000 after buying an additional 8,666 shares during the last quarter. Institutional investors own 98.66% of the company's stock.

Four Corners Property Trust Price Performance

Shares of FCPT traded up $0.40 during mid-day trading on Friday, hitting $28.19. 539,892 shares of the company traded hands, compared to its average volume of 613,099. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average of $28.03 and a 200 day moving average of $28.11. Four Corners Property Trust, Inc. has a one year low of $22.89 and a one year high of $30.93. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 26.34 and a beta of 0.93.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last released its earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share (EPS) 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%. As a group, equities analysts expect that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.04%. The ex-dividend date of this dividend was Monday, March 31st. Four Corners Property Trust's payout ratio is 132.71%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. JMP Securities reaffirmed a "market perform" rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Wells Fargo & Company increased their price objective on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Monday, March 10th. Finally, Barclays lowered 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 analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Four Corners Property Trust presently has a consensus rating of "Moderate Buy" and an average target price of $30.20.

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.