HighTower Advisors LLC Has $464,000 Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

HighTower Advisors LLC decreased its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 5.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,538 shares of the financial services provider’s stock after selling 920 shares during the quarter. HighTower Advisors LLC’s holdings in Four Corners Property Trust were worth $464,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. FMR LLC raised its holdings in shares of Four Corners Property Trust by 30.6% in the 3rd quarter. FMR LLC now owns 13,930,746 shares of the financial services provider’s stock worth $408,310,000 after buying an additional 3,268,064 shares in the last quarter. Earnest Partners LLC grew its position in Four Corners Property Trust by 31.3% during the 2nd quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider’s stock worth $78,667,000 after acquiring an additional 759,749 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Four Corners Property Trust by 6.1% during the third quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider’s stock worth $51,996,000 after purchasing an additional 102,662 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Four Corners Property Trust by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,518,075 shares of the financial services provider’s stock worth $44,495,000 after buying an additional 63,856 shares in the last quarter. Finally, Boston Trust Walden Corp raised its stake in shares of Four Corners Property Trust by 9.5% in the third quarter. Boston Trust Walden Corp now owns 1,332,684 shares of the financial services provider’s stock worth $39,061,000 after acquiring an additional 115,924 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. UBS Group began 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 for the company. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research report on Tuesday, December 10th. 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 report on Tuesday, October 1st. Barclays initiated coverage on Four Corners Property Trust in a report on Tuesday. They set an “equal weight” rating and a $31.00 target price on the stock. Finally, Evercore ISI upped their price target on 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. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.60.

Four Corners Property Trust Trading Up 1.6 %

Shares of NYSE:FCPT opened at $27.16 on Friday. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 25.38 and a beta of 1.12. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38. Four Corners Property Trust, Inc. has a 12 month low of $22.38 and a 12 month high of $30.93. The company’s fifty day simple moving average is $28.62 and its 200 day simple moving average is $27.61.

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 for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $63.50 million. During the same period last year, the company earned $0.42 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. As a group, research analysts forecast that Four Corners Property Trust, Inc. will post 1.66 EPS for the current fiscal year.

Four Corners Property Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.23%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s dividend payout ratio is presently 132.71%.

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.