abrdn plc Acquires 6,501 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

abrdn plc boosted its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 35.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 24,640 shares of the financial services provider’s stock after purchasing an additional 6,501 shares during the period. abrdn plc’s holdings in Four Corners Property Trust were worth $677,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. FMR LLC grew its stake in Four Corners Property Trust by 30.6% during the third quarter. FMR LLC now owns 13,930,746 shares of the financial services provider’s stock worth $408,310,000 after buying an additional 3,268,064 shares during the last quarter. Heitman Real Estate Securities LLC bought a new stake in Four Corners Property Trust during the third quarter worth about $24,863,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Four Corners Property Trust by 539.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 687,318 shares of the financial services provider’s stock worth $20,145,000 after buying an additional 579,849 shares during the last quarter. Bank of Montreal Can grew its stake in Four Corners Property Trust by 1,867.7% during the third quarter. Bank of Montreal Can now owns 228,987 shares of the financial services provider’s stock worth $6,771,000 after buying an additional 217,350 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in Four Corners Property Trust by 212.5% during the third quarter. Jane Street Group LLC now owns 255,275 shares of the financial services provider’s stock worth $7,482,000 after buying an additional 173,598 shares during the last quarter. Institutional investors own 98.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FCPT. Barclays decreased their price objective on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. 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 objective on the stock. Finally, JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $30.40.

Four Corners Property Trust Price Performance

Shares of FCPT stock opened at $27.78 on Tuesday. Four Corners Property Trust, Inc. has a 1 year low of $22.38 and a 1 year high of $30.93. The firm’s 50 day moving average is $27.73 and its 200-day moving average is $28.22. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 25.96 and a beta of 1.14. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38.

Four Corners Property Trust Profile

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.