Sanctuary Advisors LLC Purchases New Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

Sanctuary Advisors LLC purchased a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,301 shares of the financial services provider’s stock, valued at approximately $452,000.

Several other hedge funds have also made changes to their positions in the company. Algert Global LLC purchased a new stake in shares of Four Corners Property Trust in the 2nd quarter valued at approximately $229,000. The Manufacturers Life Insurance Company increased its stake in Four Corners Property Trust by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,170 shares of the financial services provider’s stock valued at $1,238,000 after buying an additional 2,063 shares during the period. Earnest Partners LLC increased its stake in Four Corners Property Trust by 31.3% in the 2nd quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider’s stock valued at $78,667,000 after buying an additional 759,749 shares during the period. AQR Capital Management LLC increased its stake in Four Corners Property Trust by 14.4% in the 2nd quarter. AQR Capital Management LLC now owns 22,485 shares of the financial services provider’s stock valued at $555,000 after buying an additional 2,825 shares during the period. Finally, Marshall Wace LLP increased its stake in Four Corners Property Trust by 14.3% in the 2nd quarter. Marshall Wace LLP now owns 606,053 shares of the financial services provider’s stock valued at $14,951,000 after buying an additional 75,911 shares during the period. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Stock Performance

Shares of FCPT opened at $29.73 on Thursday. The company’s fifty day moving average is $28.58 and its 200-day moving average is $26.08. Four Corners Property Trust, Inc. has a 12 month low of $20.51 and a 12 month high of $30.93. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 27.79 and a beta of 1.10. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.43.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.14). Four Corners Property Trust had a return on equity of 7.72% and a net margin of 37.01%. The business had revenue of $66.48 million for the quarter, compared to analyst estimates of $63.70 million. During the same quarter last year, the company earned $0.42 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities analysts expect that Four Corners Property Trust, Inc. will post 1.66 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.345 per share. The ex-dividend date was Monday, September 30th. This represents a $1.38 annualized dividend and a dividend yield of 4.64%. Four Corners Property Trust’s dividend payout ratio (DPR) is 128.97%.

Analyst Ratings Changes

FCPT has been the topic of several research reports. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Evercore ISI upped their price objective on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Raymond James upped their price objective on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 price objective (up previously from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Four Corners Property Trust currently has an average rating of “Moderate Buy” and an average price target of $29.67.

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.