Thrivent Financial for Lutherans Grows Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

Thrivent Financial for Lutherans increased its position in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 6.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 349,221 shares of the financial services provider's stock after purchasing an additional 20,028 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.36% of Four Corners Property Trust worth $10,236,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in FCPT. Boston Trust Walden Corp boosted its position in shares of Four Corners Property Trust by 18.7% in the 2nd quarter. Boston Trust Walden Corp now owns 1,216,760 shares of the financial services provider's stock worth $30,017,000 after purchasing an additional 191,259 shares in the last quarter. Creative Planning grew its stake in shares of Four Corners Property Trust by 13.3% in the third quarter. Creative Planning now owns 28,159 shares of the financial services provider's stock worth $825,000 after acquiring an additional 3,315 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Four Corners Property Trust by 1.1% in the first quarter. Vanguard Group Inc. now owns 10,635,297 shares of the financial services provider's stock worth $260,246,000 after acquiring an additional 116,453 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Four Corners Property Trust by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider's stock worth $51,996,000 after purchasing an additional 102,662 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Four Corners Property Trust in the 3rd quarter worth about $243,000. 98.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FCPT has been the subject of a number of analyst reports. 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 set a $32.00 target price (up from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. Evercore ISI boosted their price target on Four Corners Property Trust from $26.00 to $28.00 and gave the stock an "in-line" rating in a research note on Wednesday, August 28th. Raymond James boosted 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. Finally, UBS Group assumed coverage on shares of Four Corners Property Trust in a report on Thursday, November 14th. They set a "buy" rating and a $33.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Four Corners Property Trust currently has an average rating of "Moderate Buy" and a consensus price target of $30.50.

Four Corners Property Trust Stock Performance

Shares of FCPT traded up $0.08 during trading hours on Friday, hitting $29.25. The stock had a trading volume of 426,455 shares, compared to its average volume of 514,233. The firm has a market capitalization of $2.83 billion, a PE ratio of 27.43 and a beta of 1.11. 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 12 month low of $22.38 and a 12 month high of $30.93. The stock has a fifty day moving average price of $28.88 and a 200 day moving average price of $26.97.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $66.79 million during the quarter, compared to the consensus estimate of $63.50 million. During the same quarter last year, the company earned $0.42 EPS. Four Corners Property Trust's revenue for the quarter was up 3.0% on a year-over-year basis. 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. Stockholders of record on Tuesday, December 31st will be paid a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 4.85%. This is a positive change from Four Corners Property Trust's previous quarterly dividend of $0.35. The ex-dividend date is Tuesday, December 31st. Four Corners Property Trust's dividend payout ratio is 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.