BNP Paribas Financial Markets Sells 3,375 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

BNP Paribas Financial Markets lessened its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 14.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,662 shares of the financial services provider’s stock after selling 3,375 shares during the quarter. BNP Paribas Financial Markets’ holdings in Four Corners Property Trust were worth $606,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Truvestments Capital LLC bought a new position in Four Corners Property Trust in the third quarter worth approximately $51,000. Blue Trust Inc. grew its position in shares of 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 worth $91,000 after buying an additional 3,467 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 raised its holdings in shares of 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 acquiring an additional 814 shares in the last quarter. Finally, Cape ANN Savings Bank purchased a new stake in Four Corners Property Trust in the third quarter worth about $200,000. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FCPT. UBS Group started coverage on Four Corners Property Trust in a report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price target on the stock. Evercore ISI raised their price target on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Wells Fargo & Company reaffirmed 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 report on Tuesday, October 1st. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Tuesday. Finally, Raymond James lifted 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. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.50.

Four Corners Property Trust Trading Down 0.1 %

FCPT opened at $28.90 on Friday. The stock has a market capitalization of $2.80 billion, a PE ratio of 27.01 and a beta of 1.12. Four Corners Property Trust, Inc. has a one year low of $22.38 and a one year high of $30.93. 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 business’s 50 day moving average price is $28.72 and its 200 day moving average price is $27.46.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, October 30th. 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 7.68% and a net margin of 37.27%. The firm had revenue of $66.79 million for the quarter, compared to analysts’ expectations of $63.50 million. During the same quarter in the prior year, the business earned $0.42 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, equities research analysts expect that Four Corners Property Trust, Inc. will post 1.66 EPS for the current year.

Four Corners Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.355 per share. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.42 annualized dividend and a dividend yield of 4.91%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 132.71%.

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.