Aptus Capital Advisors LLC Buys 13,506 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Aptus Capital Advisors LLC grew its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 15.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,841 shares of the financial services provider’s stock after acquiring an additional 13,506 shares during the quarter. Aptus Capital Advisors LLC owned 0.11% of Four Corners Property Trust worth $2,926,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Versor Investments LP bought a new stake in shares of Four Corners Property Trust in the 3rd quarter valued at about $387,000. Meritage Portfolio Management increased its stake in shares of Four Corners Property Trust by 9.4% in the 3rd quarter. Meritage Portfolio Management now owns 15,373 shares of the financial services provider’s stock valued at $451,000 after acquiring an additional 1,318 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Four Corners Property Trust in the 3rd quarter valued at about $229,000. Verdence Capital Advisors LLC increased its stake in shares of Four Corners Property Trust by 4.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 12,298 shares of the financial services provider’s stock valued at $360,000 after acquiring an additional 527 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake 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 valued at $51,996,000 after acquiring an additional 102,662 shares during the last quarter. 98.66% of the stock is owned by institutional investors.

Four Corners Property Trust Trading Down 0.1 %

NYSE:FCPT opened at $27.89 on Thursday. Four Corners Property Trust, Inc. has a twelve month low of $22.38 and a twelve month high of $30.93. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average price of $28.97 and a two-hundred day moving average price of $26.79. The company has a market cap of $2.70 billion, a P/E ratio of 26.07 and a beta of 1.11.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm 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 earned $0.42 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts expect that Four Corners Property Trust, Inc. will post 1.66 EPS for the current fiscal year.

Four Corners Property Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.355 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.42 dividend on an annualized basis and a yield of 5.09%. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s dividend payout ratio is 132.71%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $32.00 price target (up from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. 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 note on Wednesday, August 21st. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Finally, Evercore ISI increased their target price 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.

Four Corners Property Trust 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.