Crossmark Global Holdings Inc. Takes $229,000 Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Crossmark Global Holdings Inc. acquired a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,812 shares of the financial services provider’s stock, valued at approximately $229,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FCPT. Covestor Ltd lifted its holdings in shares of 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 in the last quarter. Blue Trust Inc. boosted its holdings in shares of Four Corners Property Trust by 1,469.1% in the second quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock valued at $91,000 after buying an additional 3,467 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Four Corners Property Trust by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock valued at $106,000 after buying an additional 921 shares during the period. GAMMA Investing LLC increased its position in shares of Four Corners Property Trust by 24.0% during the third quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock worth $123,000 after acquiring an additional 814 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of Four Corners Property Trust by 491.0% during the first quarter. Lazard Asset Management LLC now owns 7,973 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 6,624 shares during the period. 98.66% of the stock is owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Performance

Shares of NYSE FCPT opened at $28.74 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a 50 day moving average price of $28.93 and a 200 day moving average price of $26.87. The stock has a market capitalization of $2.78 billion, a PE ratio of 26.88 and a beta of 1.11. Four Corners Property Trust, Inc. has a 52 week low of $22.38 and a 52 week high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.14). Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The firm had revenue of $66.79 million during the quarter, compared to the consensus estimate of $63.50 million. During the same period in the prior year, the business posted $0.42 earnings per share. Four Corners Property Trust’s quarterly revenue was up 3.0% compared to the same quarter last year. Analysts predict that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current fiscal year.

Four Corners Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.94%. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Tuesday, December 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 132.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FCPT shares. 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 report on Wednesday, August 28th. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Wells Fargo & Company restated an “overweight” rating and issued a $32.00 target price (up previously from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. Raymond James raised their price target on shares of 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. Finally, UBS Group initiated coverage on shares of Four Corners Property Trust in a research report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $30.50.

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.