Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its position in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 6.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,774,103 shares of the financial services provider's stock after purchasing an additional 102,662 shares during the quarter. Principal Financial Group Inc. owned approximately 1.93% of Four Corners Property Trust worth $51,996,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Covestor Ltd increased its holdings in shares of Four Corners Property Trust by 23.2% during the first quarter. Covestor Ltd now owns 2,493 shares of the financial services provider's stock valued at $61,000 after acquiring an additional 470 shares in the last quarter. Blue Trust Inc. grew its position in 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 last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 valued at $106,000 after purchasing an additional 921 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Four Corners Property Trust by 24.0% in the third quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider's stock worth $123,000 after buying an additional 814 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in shares of Four Corners Property Trust by 491.0% during the first quarter. Lazard Asset Management LLC now owns 7,973 shares of the financial services provider's stock worth $195,000 after buying an additional 6,624 shares during the period. 98.66% of the stock is owned by hedge funds and other institutional investors.

Four Corners Property Trust Stock Performance

Shares of NYSE FCPT traded down $0.08 during trading on Monday, reaching $27.97. 492,754 shares of the company traded hands, compared to its average volume of 506,821. The stock has a market cap of $2.71 billion, a P/E ratio of 26.14 and a beta of 1.11. The firm's fifty day simple moving average is $29.00 and its 200 day simple moving average is $26.75. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38. Four Corners Property Trust, Inc. has a 12-month low of $21.60 and a 12-month high of $30.93.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.14). The company had revenue of $66.79 million during the quarter, compared to analyst estimates of $63.50 million. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The company's revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 earnings per share. As a group, 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date was Monday, September 30th. Four Corners Property Trust's dividend payout ratio (DPR) is presently 128.97%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FCPT. Raymond James raised their target price on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 21st. JMP Securities restated a "market perform" rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Wells Fargo & Company reiterated an "overweight" rating and issued a $32.00 target price (up previously from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. Finally, Evercore ISI raised 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 research report on Wednesday, August 28th.

Four Corners Property Trust Profile

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.