Vanguard Group Inc. Purchases 240,230 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Vanguard Group Inc. lifted its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,874,938 shares of the financial services provider's stock after acquiring an additional 240,230 shares during the quarter. Vanguard Group Inc. owned approximately 11.24% of Four Corners Property Trust worth $295,146,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Four Corners Property Trust by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,357,175 shares of the financial services provider's stock worth $69,101,000 after purchasing an additional 27,552 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Four Corners Property Trust by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,822,422 shares of the financial services provider's stock worth $49,463,000 after buying an additional 48,319 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Four Corners Property Trust by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,612,978 shares of the financial services provider's stock worth $43,776,000 after buying an additional 94,903 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in Four Corners Property Trust by 2.4% in the fourth quarter. William Blair Investment Management LLC now owns 1,399,446 shares of the financial services provider's stock valued at $37,981,000 after buying an additional 33,450 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Four Corners Property Trust by 1.3% in the fourth quarter. Bank of New York Mellon Corp now owns 891,425 shares of the financial services provider's stock valued at $24,193,000 after buying an additional 11,131 shares during the period. Institutional investors own 98.66% of the company's stock.

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Four Corners Property Trust Trading Up 3.3 %

Four Corners Property Trust stock traded up $0.86 during mid-day trading on Wednesday, hitting $26.92. 1,170,444 shares of the company's stock were exchanged, compared to its average volume of 613,287. 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 has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $2.69 billion, a P/E ratio of 25.16 and a beta of 0.93. The company's 50 day simple moving average is $28.07 and its 200-day simple moving average is $28.20.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.16. Four Corners Property Trust had a return on equity of 7.54% and a net margin of 37.48%. On average, equities analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 5.27%. The ex-dividend date is Monday, March 31st. Four Corners Property Trust's dividend payout ratio (DPR) is presently 132.71%.

Analyst Ratings Changes

Several brokerages have commented on FCPT. Barclays dropped their target price on shares of Four Corners Property Trust from $31.00 to $30.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Wells Fargo & Company upped their price objective on Four Corners Property Trust from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Monday, March 10th. Finally, JMP Securities reissued a "market perform" rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Four Corners Property Trust has a consensus rating of "Moderate Buy" and an average price target of $30.20.

Four Corners Property Trust Profile

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.