abrdn plc Increases Stake in Four Corners Property Trust, Inc. (NYSE:FCPT)

abrdn plc lifted its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 10.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,139 shares of the financial services provider’s stock after purchasing an additional 1,731 shares during the quarter. abrdn plc’s holdings in Four Corners Property Trust were worth $532,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Four Corners Property Trust by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 10,635,297 shares of the financial services provider’s stock valued at $260,246,000 after purchasing an additional 116,453 shares during the last quarter. Earnest Partners LLC raised its position in shares of Four Corners Property Trust by 31.3% in the 2nd quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider’s stock valued at $78,667,000 after purchasing an additional 759,749 shares during the last quarter. Westwood Holdings Group Inc. raised its position in shares of Four Corners Property Trust by 3.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,619,070 shares of the financial services provider’s stock valued at $64,089,000 after purchasing an additional 93,552 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Four Corners Property Trust by 26.7% in the 1st quarter. William Blair Investment Management LLC now owns 1,410,376 shares of the financial services provider’s stock valued at $34,512,000 after purchasing an additional 297,300 shares during the last quarter. Finally, Boston Trust Walden Corp raised its position in shares of Four Corners Property Trust by 9.5% in the 3rd quarter. Boston Trust Walden Corp now owns 1,332,684 shares of the financial services provider’s stock valued at $39,061,000 after purchasing an additional 115,924 shares during the last quarter. 98.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FCPT shares. Evercore ISI raised their price target on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Wells Fargo & Company reissued an “overweight” rating and set a $32.00 price target (up from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Finally, Raymond James raised their price target on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st.

Four Corners Property Trust Price Performance

Shares of NYSE FCPT opened at $27.72 on Tuesday. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 25.91 and a beta of 1.11. Four Corners Property Trust, Inc. has a 12 month low of $21.60 and a 12 month high of $30.93. The firm’s 50 day simple moving average is $29.03 and its 200-day simple moving average is $26.56. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.17 and a quick ratio of 0.13.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). The firm had revenue of $66.79 million for the quarter, compared to analyst estimates of $63.50 million. Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. Four Corners Property Trust’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. Analysts expect that Four Corners Property Trust, Inc. will post 1.66 EPS for the current year.

Four Corners Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.345 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 4.98%. Four Corners Property Trust’s payout ratio is 128.97%.

Four Corners Property Trust Company 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.