Quest Partners LLC Purchases Shares of 58,699 Four Corners Property Trust, Inc. (NYSE:FCPT)

Quest Partners LLC bought a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 58,699 shares of the financial services provider's stock, valued at approximately $1,720,000. Quest Partners LLC owned approximately 0.06% of Four Corners Property Trust at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd boosted its holdings in shares of Four Corners Property Trust by 23.2% in the 1st quarter. Covestor Ltd now owns 2,493 shares of the financial services provider's stock valued at $61,000 after buying an additional 470 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of 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 buying an additional 921 shares in the last quarter. Blue Trust Inc. lifted its holdings in Four Corners Property Trust by 1,469.1% in the 2nd quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider's stock valued at $91,000 after purchasing an additional 3,467 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Four Corners Property Trust by 24.0% during the 3rd quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider's stock worth $123,000 after purchasing an additional 814 shares during the last quarter. Finally, Cape ANN Savings Bank acquired a new stake in shares of Four Corners Property Trust during the 3rd quarter worth about $200,000. 98.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Four Corners Property Trust Trading Up 1.2 %

Shares of NYSE FCPT traded up $0.34 during midday trading on Tuesday, hitting $29.10. The stock had a trading volume of 673,570 shares, compared to its average volume of 515,646. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.17 and a quick ratio of 0.17. 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's 50-day simple moving average is $28.93 and its 200 day simple moving average is $26.87. The firm has a market cap of $2.81 billion, a P/E ratio of 26.86 and a beta of 1.11.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.14). Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The company had revenue of $66.79 million for the quarter, compared to analyst estimates of $63.50 million. During the same period last year, the company posted $0.42 earnings per share. The business's revenue for the quarter was up 3.0% on a year-over-year basis. Research analysts anticipate that Four Corners Property Trust, Inc. will post 1.66 EPS for the current year.

Four Corners Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.355 per share. This is a positive change from Four Corners Property Trust's previous quarterly dividend of $0.35. This represents a $1.42 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date of this dividend is Tuesday, December 31st. Four Corners Property Trust's payout ratio is currently 128.97%.

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.