Pensionfund Sabic Decreases Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

Pensionfund Sabic lowered its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 15.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 14,000 shares of the financial services provider’s stock after selling 2,500 shares during the quarter. Pensionfund Sabic’s holdings in Four Corners Property Trust were worth $410,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Earnest Partners LLC increased its position in shares of Four Corners Property Trust by 31.3% during the second quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider’s stock worth $78,667,000 after purchasing an additional 759,749 shares in the last quarter. William Blair Investment Management LLC increased its position in Four Corners Property Trust by 26.7% during the first quarter. William Blair Investment Management LLC now owns 1,410,376 shares of the financial services provider’s stock worth $34,512,000 after buying an additional 297,300 shares during the period. Vanguard Group Inc. lifted its stake in Four Corners Property Trust by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 10,518,844 shares of the financial services provider’s stock valued at $266,127,000 after buying an additional 294,240 shares during the last quarter. Boston Trust Walden Corp boosted its holdings in shares of Four Corners Property Trust by 18.7% in the second quarter. Boston Trust Walden Corp now owns 1,216,760 shares of the financial services provider’s stock valued at $30,017,000 after acquiring an additional 191,259 shares during the period. Finally, Westwood Holdings Group Inc. grew its position in shares of Four Corners Property Trust by 3.7% during the first quarter. Westwood Holdings Group Inc. now owns 2,619,070 shares of the financial services provider’s stock worth $64,089,000 after acquiring an additional 93,552 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Stock Up 0.1 %

FCPT stock opened at $28.64 on Friday. The stock has a market capitalization of $2.63 billion, a PE ratio of 26.77 and a beta of 1.10. The company has a fifty day moving average of $28.48 and a 200-day moving average of $25.96. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.13 and a current ratio of 0.13. Four Corners Property Trust, Inc. has a one year low of $20.51 and a one year high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). The business had revenue of $66.48 million during the quarter, compared to analysts’ expectations of $63.70 million. Four Corners Property Trust had a net margin of 37.01% and a return on equity of 7.72%. Four Corners Property Trust’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 EPS. As a group, analysts expect that Four Corners Property Trust, Inc. will post 1.66 EPS for the current year.

Four Corners Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.345 per share. The ex-dividend date is Monday, September 30th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 4.82%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 128.97%.

Wall Street Analyst Weigh In

Several analysts recently commented on FCPT shares. Evercore ISI upped their price target on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $32.00 target price (up from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Raymond James raised their price target on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.67.

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.