Intech Investment Management LLC Takes $725,000 Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Intech Investment Management LLC purchased a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 24,742 shares of the financial services provider's stock, valued at approximately $725,000.

Several other large investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Four Corners Property Trust by 211.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 159,630 shares of the financial services provider's stock worth $4,679,000 after purchasing an additional 108,345 shares during the period. Quest Partners LLC purchased a new position in Four Corners Property Trust during the 3rd quarter worth approximately $1,720,000. Thrivent Financial for Lutherans raised its position in Four Corners Property Trust by 6.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 349,221 shares of the financial services provider's stock worth $10,236,000 after buying an additional 20,028 shares during the last quarter. Natixis Advisors LLC lifted its stake in Four Corners Property Trust by 4.6% during the 3rd quarter. Natixis Advisors LLC now owns 31,209 shares of the financial services provider's stock valued at $915,000 after acquiring an additional 1,377 shares during the period. Finally, Metis Global Partners LLC purchased a new stake in shares of Four Corners Property Trust in the 3rd quarter valued at $280,000. Hedge funds and other institutional investors own 98.66% of the company's stock.

Analyst Ratings Changes

FCPT has been the subject of several recent research reports. JMP Securities reissued a "market perform" rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Wells Fargo & Company reissued an "overweight" rating and issued a $32.00 price objective (up previously from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Raymond James boosted their price target on Four Corners Property Trust from $27.00 to $29.00 and gave the company an "outperform" rating in a report on Wednesday, August 21st. UBS Group initiated coverage on shares of Four Corners Property Trust in a report on Thursday, November 14th. They set a "buy" rating and a $33.00 target price for the company. Finally, Evercore ISI increased their price target on shares of 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. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.50.

Four Corners Property Trust Price Performance

Four Corners Property Trust stock traded up $0.17 during trading on Friday, reaching $29.71. The company had a trading volume of 475,496 shares, compared to its average volume of 515,026. 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 firm's 50-day simple moving average is $28.78 and its 200 day simple moving average is $27.19. The firm has a market capitalization of $2.87 billion, a PE 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 released its earnings results on Wednesday, October 30th. The financial services provider reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.14). Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. The company had revenue of $66.79 million for the quarter, compared to analysts' expectations of $63.50 million. During the same period in the prior year, the firm earned $0.42 EPS. The firm's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities research analysts anticipate 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 4.78%. This is a boost from Four Corners Property Trust's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Tuesday, December 31st. Four Corners Property Trust's payout ratio is presently 132.71%.

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.