Mutual of America Capital Management LLC Sells 1,182 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Mutual of America Capital Management LLC lessened its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 7.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,938 shares of the financial services provider’s stock after selling 1,182 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Four Corners Property Trust were worth $409,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Boston Trust Walden Corp increased its position in 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 worth $30,017,000 after purchasing an additional 191,259 shares during the last quarter. Creative Planning increased its position in Four Corners Property Trust by 13.3% during the third quarter. Creative Planning now owns 28,159 shares of the financial services provider’s stock valued at $825,000 after acquiring an additional 3,315 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Four Corners Property Trust by 1.1% in the first quarter. Vanguard Group Inc. now owns 10,635,297 shares of the financial services provider’s stock valued at $260,246,000 after acquiring an additional 116,453 shares during the period. Principal Financial Group Inc. grew its holdings in Four Corners Property Trust by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider’s stock valued at $51,996,000 after purchasing an additional 102,662 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Four Corners Property Trust in the 3rd quarter worth about $243,000. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Price Performance

Shares of FCPT opened at $29.54 on Thursday. 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 company has a 50 day moving average price of $28.81 and a 200-day moving average price of $27.12. Four Corners Property Trust, Inc. has a fifty-two week low of $22.38 and a fifty-two week high of $30.93. The stock has a market capitalization of $2.86 billion, a PE ratio of 27.61 and a beta of 1.11.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.14). Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. The firm had revenue of $66.79 million during the quarter, compared to analysts’ expectations of $63.50 million. During the same period in the prior year, the firm posted $0.42 earnings per share. Four Corners Property Trust’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.355 dividend. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.35. The ex-dividend date is Tuesday, December 31st. This represents a $1.42 dividend on an annualized basis and a yield of 4.81%. Four Corners Property Trust’s dividend payout ratio (DPR) is 132.71%.

Analyst Upgrades and Downgrades

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

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.