Rhumbline Advisers Has $8.67 Million Stock Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

Rhumbline Advisers grew its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319,567 shares of the financial services provider’s stock after acquiring an additional 6,931 shares during the period. Rhumbline Advisers owned 0.33% of Four Corners Property Trust worth $8,673,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC grew its stake in Four Corners Property Trust by 30.6% in the third quarter. FMR LLC now owns 13,930,746 shares of the financial services provider’s stock valued at $408,310,000 after purchasing an additional 3,268,064 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Four Corners Property Trust by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,357,175 shares of the financial services provider’s stock valued at $69,101,000 after buying an additional 27,552 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Four Corners Property Trust by 6.1% in the third quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider’s stock valued at $51,996,000 after buying an additional 102,662 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Four Corners Property Trust by 4.4% during the third 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 during the last quarter. Finally, Heitman Real Estate Securities LLC acquired a new position in Four Corners Property Trust during the third quarter worth $24,863,000. Institutional investors and hedge funds own 98.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FCPT. UBS Group assumed coverage on shares of Four Corners Property Trust in a research note on Thursday, November 14th. They issued a “buy” rating and a $33.00 price target for the company. Barclays dropped their target price on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Finally, JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Four Corners Property Trust has an average rating of “Moderate Buy” and an average target price of $30.40.

Four Corners Property Trust Price Performance

NYSE:FCPT opened at $28.24 on Tuesday. The company has a market cap of $2.82 billion, a P/E ratio of 26.39 and a beta of 1.14. The firm’s fifty day moving average price is $27.51 and its two-hundred day moving average price is $28.27. 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 0.36, a current ratio of 0.11 and a quick ratio of 0.11.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.16. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. Equities analysts expect that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Profile

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.