Principal Financial Group Inc. Acquires 48,319 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Principal Financial Group Inc. boosted its position in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 2.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,822,422 shares of the financial services provider's stock after purchasing an additional 48,319 shares during the period. Principal Financial Group Inc. owned about 1.88% of Four Corners Property Trust worth $49,463,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Rhumbline Advisers lifted its holdings in Four Corners Property Trust by 2.2% during the 4th quarter. Rhumbline Advisers now owns 319,567 shares of the financial services provider's stock valued at $8,673,000 after purchasing an additional 6,931 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Four Corners Property Trust by 16.2% during the 4th quarter. Van ECK Associates Corp now owns 18,327 shares of the financial services provider's stock worth $497,000 after buying an additional 2,560 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Four Corners Property Trust by 4.5% during the 4th quarter. Louisiana State Employees Retirement System now owns 46,800 shares of the financial services provider's stock worth $1,270,000 after buying an additional 2,000 shares during the last quarter. Entropy Technologies LP acquired a new stake in Four Corners Property Trust during the fourth quarter worth approximately $419,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in Four Corners Property Trust by 7.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 106,360 shares of the financial services provider's stock worth $2,887,000 after acquiring an additional 7,479 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on FCPT shares. JMP Securities reissued a "market perform" rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. UBS Group assumed coverage on 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, Barclays dropped their target price on Four Corners Property Trust from $31.00 to $30.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $30.40.

Four Corners Property Trust Price Performance

NYSE FCPT traded up $0.24 during trading on Friday, hitting $27.95. 807,863 shares of the company's stock were exchanged, compared to its average volume of 501,731. 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 company has a market cap of $2.79 billion, a PE ratio of 26.12 and a beta of 1.14. Four Corners Property Trust, Inc. has a fifty-two week low of $22.38 and a fifty-two week high of $30.93. The stock's 50 day moving average price is $27.52 and its two-hundred day moving average price is $28.25.

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

About Four Corners Property Trust

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.