Barclays PLC Increases Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Barclays PLC grew its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 109.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 156,021 shares of the financial services provider’s stock after acquiring an additional 81,565 shares during the period. Barclays PLC’s holdings in Four Corners Property Trust were worth $4,572,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Truvestments Capital LLC purchased a new position in shares of Four Corners Property Trust in the third quarter worth $51,000. Mirae Asset Global Investments Co. Ltd. raised its position in Four Corners Property Trust by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock worth $106,000 after buying an additional 921 shares during the last quarter. GAMMA Investing LLC lifted its stake in Four Corners Property Trust by 24.0% during the 3rd quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 814 shares during the period. Cape ANN Savings Bank purchased a new stake in shares of Four Corners Property Trust during the 3rd quarter valued at about $200,000. Finally, ZWJ Investment Counsel Inc. bought a new stake in shares of Four Corners Property Trust in the third quarter worth approximately $208,000. 98.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FCPT has been the topic of several research analyst reports. Evercore ISI increased their price target on Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Barclays started coverage on shares of Four Corners Property Trust in a research report on Tuesday, December 17th. They issued an “equal weight” rating and a $31.00 price target on the stock. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Tuesday, December 10th. UBS Group initiated coverage on Four Corners Property Trust in a report on Thursday, November 14th. They issued a “buy” rating and a $33.00 target price on the stock. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $32.00 price target (up previously from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.60.

Four Corners Property Trust Trading Up 1.6 %

Shares of FCPT stock opened at $27.16 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a fifty day simple moving average of $28.62 and a two-hundred day simple moving average of $27.63. The firm has a market capitalization of $2.63 billion, a PE ratio of 25.38 and a beta of 1.12. Four Corners Property Trust, Inc. has a 52-week low of $22.38 and a 52-week high of $30.93.

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 (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.14). Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. The business had revenue of $66.79 million for the quarter, compared to analysts’ expectations of $63.50 million. During the same quarter in the prior year, the business posted $0.42 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, analysts predict 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. Stockholders of record on Tuesday, December 31st will be issued a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 5.23%. The ex-dividend date is Tuesday, December 31st. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s payout ratio is 132.71%.

About Four Corners Property Trust

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.