Pensionfund DSM Netherlands Sells 7,000 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Pensionfund DSM Netherlands lessened its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 20.0% during the fourth quarter, Holdings Channel reports. The fund owned 28,000 shares of the financial services provider’s stock after selling 7,000 shares during the period. Pensionfund DSM Netherlands’ holdings in Four Corners Property Trust were worth $760,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Four Corners Property Trust by 24.3% in the 4th quarter. GAMMA Investing LLC now owns 5,226 shares of the financial services provider’s stock worth $142,000 after buying an additional 1,021 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Four Corners Property Trust by 13.5% in the third quarter. JPMorgan Chase & Co. now owns 392,448 shares of the financial services provider’s stock worth $11,503,000 after buying an additional 46,732 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Four Corners Property Trust by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider’s stock valued at $51,996,000 after acquiring an additional 102,662 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in Four Corners Property Trust by 44.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 27,967 shares of the financial services provider’s stock valued at $818,000 after acquiring an additional 8,666 shares during the period. Finally, Geode Capital Management LLC grew its position in Four Corners Property Trust by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,357,175 shares of the financial services provider’s stock worth $69,101,000 after acquiring an additional 27,552 shares during the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Wall Street Analyst Weigh In

FCPT has been the subject of several research analyst reports. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a report on Tuesday, December 10th. Barclays started coverage on Four Corners Property Trust in a report on Tuesday, December 17th. They set an “equal weight” rating and a $31.00 price target on the stock. Wells Fargo & Company restated an “overweight” rating and set a $32.00 target price (up previously from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. Finally, UBS Group initiated coverage on shares of Four Corners Property Trust in a research note on Thursday, November 14th. They set a “buy” rating and a $33.00 price target on the stock. Three equities research 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 presently has an average rating of “Moderate Buy” and an average target price of $30.60.

Four Corners Property Trust Price Performance

NYSE FCPT traded down $0.09 on Monday, hitting $27.07. The company had a trading volume of 25,584 shares, compared to its average volume of 460,219. The company has a market capitalization of $2.62 billion, a PE ratio of 25.30 and a beta of 1.13. Four Corners Property Trust, Inc. has a 12-month low of $22.38 and a 12-month high of $30.93. The company’s fifty day moving average price is $28.25 and its 200-day moving average price is $27.84. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.17 and a quick ratio of 0.17.

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 the consensus estimate 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 firm had revenue of $66.79 million during the quarter, compared to analysts’ expectations of $63.50 million. During the same quarter last year, the business earned $0.42 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts predict that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current year.

Four Corners Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.355 dividend. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.42 dividend on an annualized basis and a yield of 5.25%. Four Corners Property Trust’s dividend payout ratio is presently 132.71%.

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.