Charles Schwab Investment Management Inc. Has $44.50 Million Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

Charles Schwab Investment Management Inc. boosted its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 4.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,518,075 shares of the financial services provider’s stock after purchasing an additional 63,856 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.57% of Four Corners Property Trust worth $44,495,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Verdence Capital Advisors LLC increased its stake in shares of Four Corners Property Trust by 4.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 12,298 shares of the financial services provider’s stock valued at $360,000 after acquiring an additional 527 shares during the last quarter. GAMMA Investing LLC raised its holdings in 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 worth $123,000 after purchasing an additional 814 shares during the period. Arizona State Retirement System boosted its position in shares of Four Corners Property Trust by 3.5% during the second quarter. Arizona State Retirement System now owns 25,753 shares of the financial services provider’s stock worth $635,000 after purchasing an additional 863 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position 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 worth $106,000 after purchasing an additional 921 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Four Corners Property Trust by 8.2% in the 2nd quarter. Van ECK Associates Corp now owns 14,037 shares of the financial services provider’s stock valued at $346,000 after buying an additional 1,059 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on FCPT. Raymond James lifted their target price on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. UBS Group began coverage on Four Corners Property Trust in a research report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price objective for the company. Evercore ISI raised their target price on shares of 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 research note on Wednesday, August 28th. Finally, Wells Fargo & Company reissued an “overweight” rating and set 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. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.50.

Four Corners Property Trust Trading Up 0.6 %

NYSE:FCPT opened at $29.71 on Monday. The company has a market cap of $2.87 billion, a P/E ratio of 27.77 and a beta of 1.11. Four Corners Property Trust, Inc. has a twelve month low of $22.38 and a twelve month high of $30.93. The business has a 50 day moving average price of $28.78 and a two-hundred day moving average price of $27.22. 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 (NYSE:FCPT) last released its 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 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 the consensus estimate of $63.50 million. During the same period last year, the business posted $0.42 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, analysts expect 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 4.78%. The ex-dividend date of this dividend 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 128.97%.

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.