GAMMA Investing LLC Grows Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

GAMMA Investing LLC grew its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 24.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,226 shares of the financial services provider’s stock after acquiring an additional 1,021 shares during the quarter. GAMMA Investing LLC’s holdings in Four Corners Property Trust were worth $142,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Natixis Advisors LLC raised its position in Four Corners Property Trust by 37.6% during the second quarter. Natixis Advisors LLC now owns 29,832 shares of the financial services provider’s stock valued at $736,000 after purchasing an additional 8,146 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Four Corners Property Trust by 0.7% during the 2nd quarter. Rhumbline Advisers now owns 335,493 shares of the financial services provider’s stock valued at $8,277,000 after buying an additional 2,328 shares in the last quarter. Arizona State Retirement System lifted its position in Four Corners Property Trust by 3.5% in the 2nd quarter. Arizona State Retirement System now owns 25,753 shares of the financial services provider’s stock worth $635,000 after buying an additional 863 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in Four Corners Property Trust by 44.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 45,529 shares of the financial services provider’s stock worth $1,123,000 after buying an additional 14,037 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Four Corners Property Trust by 8.0% in the second quarter. Envestnet Asset Management Inc. now owns 471,955 shares of the financial services provider’s stock worth $11,643,000 after buying an additional 34,980 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Analyst Upgrades and Downgrades

FCPT has been the topic of several research reports. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research note on Tuesday, December 10th. UBS Group initiated coverage on shares of Four Corners Property Trust in a research report on Thursday, November 14th. They issued a “buy” rating and a $33.00 target price on the stock. Barclays initiated coverage on shares of Four Corners Property Trust in a research note on Tuesday, December 17th. They issued an “equal weight” rating and a $31.00 price target for the company. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $30.60.

Four Corners Property Trust Trading Up 0.4 %

Shares of FCPT opened at $26.87 on Friday. The stock has a market capitalization of $2.60 billion, a P/E ratio of 25.11 and a beta of 1.13. Four Corners Property Trust, Inc. has a twelve month low of $22.38 and a twelve month high of $30.93. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38. The firm has a fifty day simple moving average of $28.18 and a two-hundred day simple moving average of $27.89.

Four Corners Property Trust (NYSE:FCPT) last posted 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 return on equity of 7.68% and a net margin of 37.27%. The firm 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 company posted $0.42 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, research analysts anticipate that Four Corners Property Trust, Inc. will post 1.66 EPS 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. Stockholders of record on Tuesday, December 31st will be given a $0.355 dividend. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.35. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date is Tuesday, December 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 132.71%.

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.