William Blair Investment Management LLC boosted its position in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,399,446 shares of the financial services provider's stock after buying an additional 33,450 shares during the period. William Blair Investment Management LLC owned approximately 1.45% of Four Corners Property Trust worth $37,981,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Four Corners Property Trust by 234.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 817 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Four Corners Property Trust by 165.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,379 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 860 shares during the period. Truvestments Capital LLC purchased a new stake in Four Corners Property Trust in the 3rd quarter valued at approximately $51,000. Synergy Investment Management LLC acquired a new position in Four Corners Property Trust during the 4th quarter worth approximately $48,000. Finally, Eagle Bay Advisors LLC raised its stake in shares of Four Corners Property Trust by 25.0% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,125 shares of the financial services provider's stock worth $58,000 after buying an additional 425 shares in the last quarter. 98.66% of the stock is currently owned by hedge funds and other institutional investors.
Four Corners Property Trust Price Performance
Shares of FCPT stock traded down $0.39 during mid-day trading on Friday, reaching $28.13. The stock had a trading volume of 1,906,506 shares, compared to its average volume of 735,674. The company has a market cap of $2.81 billion, a P/E ratio of 26.29 and a beta of 1.16. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.36. Four Corners Property Trust, Inc. has a 12-month low of $22.38 and a 12-month high of $30.93. The business has a 50-day simple moving average of $27.95 and a 200 day simple moving average of $28.40.
Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its earnings results 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%. On average, sell-side analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.
Four Corners Property Trust Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend is Monday, March 31st. Four Corners Property Trust's payout ratio is currently 132.71%.
Analysts Set New Price Targets
A number of research firms recently weighed in on FCPT. Barclays decreased their price target on Four Corners Property Trust from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. JMP Securities reaffirmed a "market perform" rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. Finally, Wells Fargo & Company increased their price target on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Monday, March 10th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $30.20.
Get Our Latest Stock Analysis on FCPT
About Four Corners Property Trust
(
Free Report)
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.
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