State Street Corp Sells 20,825 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

State Street Corp reduced its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,348,824 shares of the financial services provider's stock after selling 20,825 shares during the period. State Street Corp owned about 5.53% of Four Corners Property Trust worth $158,615,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Truvestments Capital LLC purchased a new stake in shares of Four Corners Property Trust in the third quarter worth approximately $51,000. Blue Trust Inc. increased its stake 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 buying an additional 3,467 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Four Corners Property Trust by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider's stock worth $106,000 after buying an additional 921 shares in the last quarter. GAMMA Investing LLC boosted its stake 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 valued at $123,000 after buying an additional 814 shares during the period. Finally, Cape ANN Savings Bank purchased a new position in shares of Four Corners Property Trust during the 3rd quarter valued at $200,000. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Performance

Shares of FCPT stock traded down $0.18 during trading on Friday, reaching $28.73. The company had a trading volume of 843,821 shares, compared to its average volume of 513,345. The firm's 50 day simple moving average is $28.73 and its two-hundred day simple moving average is $27.49. 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 one year low of $22.38 and a one year high of $30.93. The company has a market capitalization of $2.78 billion, a PE ratio of 26.85 and a beta of 1.12.

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 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.14). The company had revenue of $66.79 million for 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 for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $0.42 EPS. Sell-side analysts forecast that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current year.

Four Corners Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 4.94%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Four Corners Property Trust's previous quarterly dividend of $0.35. Four Corners Property Trust's dividend payout ratio (DPR) is 128.97%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FCPT shares. Raymond James lifted their price objective on Four Corners Property Trust from $27.00 to $29.00 and gave the company an "outperform" rating in a research report on Wednesday, August 21st. Wells Fargo & Company reiterated an "overweight" rating and set a $32.00 price target (up from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. JMP Securities restated a "market perform" rating on shares of Four Corners Property Trust in a report on Tuesday. Evercore ISI raised their price objective on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the company an "in-line" rating in a research report on Wednesday, August 28th. Finally, UBS Group initiated coverage on shares of Four Corners Property Trust in a research report on Thursday, November 14th. They issued a "buy" rating and a $33.00 target price for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $30.50.

Four Corners Property Trust Company 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.