Synergy Investment Management LLC Makes New Investment in Four Corners Property Trust, Inc. (NYSE:FCPT)

Synergy Investment Management LLC purchased a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,770 shares of the financial services provider’s stock, valued at approximately $48,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Four Corners Property Trust in the third quarter valued at about $243,000. Van ECK Associates Corp grew its stake in shares of Four Corners Property Trust by 12.3% in the third quarter. Van ECK Associates Corp now owns 15,767 shares of the financial services provider’s stock valued at $462,000 after buying an additional 1,730 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Four Corners Property Trust by 6.1% in the third quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider’s stock valued at $51,996,000 after buying an additional 102,662 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in shares of Four Corners Property Trust by 4.5% in the third quarter. Verdence Capital Advisors LLC now owns 12,298 shares of the financial services provider’s stock valued at $360,000 after buying an additional 527 shares in the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Four Corners Property Trust in the third quarter valued at about $229,000. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Trading Up 1.4 %

Shares of FCPT opened at $28.99 on Thursday. The company has a market capitalization of $2.90 billion, a P/E ratio of 27.10 and a beta of 1.16. 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 debt-to-equity ratio of 0.36, a quick ratio of 0.11 and a current ratio of 0.11. The stock has a 50-day moving average price of $27.67 and a 200 day moving average price of $28.34.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.44 EPS for the quarter, beating 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%. Sell-side analysts forecast that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FCPT shares. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. Barclays lowered their target price on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, UBS Group began coverage on Four Corners Property Trust in a report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price target for the company. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.40.

About Four Corners Property Trust

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.