MML Investors Services LLC Buys 635 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

MML Investors Services LLC boosted its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,881 shares of the financial services provider’s stock after purchasing an additional 635 shares during the period. MML Investors Services LLC’s holdings in Four Corners Property Trust were worth $348,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Jane Street Group LLC raised its stake in shares of Four Corners Property Trust by 212.5% during the 3rd quarter. Jane Street Group LLC now owns 255,275 shares of the financial services provider’s stock worth $7,482,000 after purchasing an additional 173,598 shares in the last quarter. Stifel Financial Corp increased its holdings in Four Corners Property Trust by 15.7% during the third quarter. Stifel Financial Corp now owns 23,370 shares of the financial services provider’s stock worth $685,000 after buying an additional 3,175 shares during the last quarter. Heitman Real Estate Securities LLC bought a new stake in Four Corners Property Trust during the third quarter worth $24,863,000. Kestra Investment Management LLC bought a new stake in Four Corners Property Trust during the third quarter worth $308,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Four Corners Property Trust by 539.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 687,318 shares of the financial services provider’s stock valued at $20,145,000 after acquiring an additional 579,849 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors.

Four Corners Property Trust Stock Performance

FCPT opened at $27.65 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.17 and a quick ratio of 0.17. The business has a fifty day simple moving average of $28.55 and a 200 day simple moving average of $27.69. Four Corners Property Trust, Inc. has a 1 year low of $22.38 and a 1 year high of $30.93. The company has a market capitalization of $2.67 billion, a PE ratio of 25.84 and a beta of 1.12.

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 net margin of 37.27% and a return on equity of 7.68%. The business had revenue of $66.79 million during the quarter, compared to analyst estimates of $63.50 million. During the same quarter last year, the company posted $0.42 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. 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 business also recently declared 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 boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. This represents a $1.42 annualized dividend and a dividend yield of 5.14%. The ex-dividend date of this dividend is Tuesday, December 31st. Four Corners Property Trust’s payout ratio is 132.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Barclays began coverage on shares of Four Corners Property Trust in a report on Tuesday, December 17th. They issued an “equal weight” rating and a $31.00 target price on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $32.00 price objective (up 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 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 reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a report on Tuesday, December 10th. Finally, UBS Group started coverage on shares of Four Corners Property Trust in a report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Four Corners Property Trust has an average rating of “Moderate Buy” and a consensus price target of $30.60.

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.