Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 4.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,324,966 shares of the financial services provider’s stock after buying an additional 51,140 shares during the quarter. Dimensional Fund Advisors LP owned 1.44% of Four Corners Property Trust worth $32,687,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Larson Financial Group LLC raised its holdings in shares of Four Corners Property Trust by 25,000.0% during the first quarter. Larson Financial Group LLC now owns 1,004 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 1,000 shares during the period. Covestor Ltd raised its stake in Four Corners Property Trust by 23.2% during the 1st quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 470 shares during the period. Blue Trust Inc. raised its stake in Four Corners Property Trust by 1,469.1% during the 2nd quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 3,467 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Four Corners Property Trust by 491.0% in the first quarter. Lazard Asset Management LLC now owns 7,973 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 6,624 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Four Corners Property Trust by 31.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,626 shares of the financial services provider’s stock worth $269,000 after buying an additional 2,551 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Stock Performance

Shares of FCPT stock opened at $29.31 on Wednesday. Four Corners Property Trust, Inc. has a fifty-two week low of $20.51 and a fifty-two week high of $30.93. The stock’s 50-day moving average is $28.23 and its two-hundred day moving average is $25.74. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market cap of $2.70 billion, a P/E ratio of 27.39 and a beta of 1.10.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.14). The business had revenue of $66.48 million for the quarter, compared to the consensus estimate 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 was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 EPS. Analysts predict that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend is Monday, September 30th. Four Corners Property Trust’s payout ratio is presently 128.97%.

Analysts Set New Price Targets

Several research analysts recently weighed in on FCPT shares. Raymond James upped their price target on Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Evercore ISI raised their price target on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Four Corners Property Trust currently has an average rating of “Hold” and an average price target of $28.75.

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.