Cerity Partners LLC Increases Stake in Four Corners Property Trust, Inc. (NYSE:FCPT)

Cerity Partners LLC raised its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 19.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,655 shares of the financial services provider’s stock after acquiring an additional 2,689 shares during the quarter. Cerity Partners LLC’s holdings in Four Corners Property Trust were worth $488,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Blue Trust Inc. lifted its stake in shares of Four Corners Property Trust by 1,469.1% in 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. Mirae Asset Global Investments Co. Ltd. grew its position in Four Corners Property Trust by 34.8% during 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 holdings in Four Corners Property Trust by 24.0% in the third quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock valued at $123,000 after buying an additional 814 shares in the last quarter. Cape ANN Savings Bank acquired a new position in shares of Four Corners Property Trust in the third quarter worth about $200,000. Finally, ZWJ Investment Counsel Inc. acquired a new position in shares of Four Corners Property Trust in the third quarter worth about $208,000. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Stock Performance

Shares of NYSE:FCPT opened at $29.17 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.17 and a quick ratio of 0.17. Four Corners Property Trust, Inc. has a 1 year low of $22.38 and a 1 year high of $30.93. The firm has a market capitalization of $2.82 billion, a PE ratio of 27.26 and a beta of 1.12. The business’s 50 day moving average price is $28.73 and its 200-day moving average price is $27.35.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). The firm had revenue of $66.79 million during the quarter, compared to analysts’ expectations of $63.50 million. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 EPS. As a group, equities research analysts expect 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. Investors of record on Tuesday, December 31st will be paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 4.87%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s dividend payout ratio is currently 128.97%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FCPT. UBS Group assumed coverage on Four Corners Property Trust in a research report on Thursday, November 14th. They set a “buy” rating and a $33.00 target price on the stock. Evercore ISI boosted their price objective on 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 reiterated 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. Raymond James boosted 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 report on Wednesday, August 21st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Four Corners Property Trust currently has a consensus rating of “Moderate Buy” and an average price target of $30.50.

Four Corners Property Trust Company 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.