Bank of New York Mellon Corp Has $24.19 Million Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

Bank of New York Mellon Corp lifted its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 891,425 shares of the financial services provider’s stock after buying an additional 11,131 shares during the quarter. Bank of New York Mellon Corp owned about 0.92% of Four Corners Property Trust worth $24,193,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of FCPT. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Four Corners Property Trust during the third quarter worth $243,000. Van ECK Associates Corp grew its holdings in Four Corners Property Trust by 12.3% in the third quarter. Van ECK Associates Corp now owns 15,767 shares of the financial services provider’s stock worth $462,000 after purchasing an additional 1,730 shares during the period. Principal Financial Group Inc. grew its holdings in 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 worth $51,996,000 after purchasing an additional 102,662 shares during the period. Verdence Capital Advisors LLC grew its holdings in Four Corners Property Trust by 4.5% in the third quarter. Verdence Capital Advisors LLC now owns 12,298 shares of the financial services provider’s stock worth $360,000 after purchasing an additional 527 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new stake in Four Corners Property Trust in the third quarter worth $229,000. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on FCPT. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Barclays reduced their price target on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, UBS Group began 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 target for the company. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Four Corners Property Trust presently has an average rating of “Moderate Buy” and a consensus target price of $30.40.

Four Corners Property Trust Stock Up 1.8 %

Shares of NYSE FCPT opened at $29.31 on Monday. The stock has a market capitalization of $2.93 billion, a P/E ratio of 27.39 and a beta of 1.16. The company has a 50-day moving average price of $27.76 and a 200-day moving average price of $28.39. 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 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 released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share 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%. On average, equities research analysts forecast that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

About Four Corners Property Trust

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.