Envestnet Asset Management Inc. Grows Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Envestnet Asset Management Inc. raised its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 8.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 471,955 shares of the financial services provider’s stock after purchasing an additional 34,980 shares during the quarter. Envestnet Asset Management Inc. owned 0.51% of Four Corners Property Trust worth $11,643,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Boston Trust Walden Corp lifted its stake in shares of Four Corners Property Trust by 18.7% during the 2nd quarter. Boston Trust Walden Corp now owns 1,216,760 shares of the financial services provider’s stock worth $30,017,000 after acquiring an additional 191,259 shares during the last quarter. Vanguard Group Inc. increased its stake in Four Corners Property Trust by 1.1% in the first quarter. Vanguard Group Inc. now owns 10,635,297 shares of the financial services provider’s stock worth $260,246,000 after purchasing an additional 116,453 shares during the period. Norges Bank bought a new stake in shares of Four Corners Property Trust during the fourth quarter worth $14,546,000. PNC Financial Services Group Inc. boosted its stake in shares of Four Corners Property Trust by 31.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,626 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 2,551 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of Four Corners Property Trust by 50.0% in the fourth quarter. Wells Fargo & Company MN now owns 609,208 shares of the financial services provider’s stock worth $15,413,000 after purchasing an additional 203,047 shares during the last quarter. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Stock Down 0.5 %

Four Corners Property Trust stock opened at $29.56 on Thursday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.43. The firm has a market cap of $2.74 billion, a P/E ratio of 27.63 and a beta of 1.10. The business has a fifty day moving average of $28.09 and a two-hundred day moving average of $25.61. Four Corners Property Trust, Inc. has a twelve month low of $20.51 and a twelve month high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). The company had revenue of $66.48 million for the quarter, compared to the consensus estimate of $63.70 million. Four Corners Property Trust had a net margin of 37.01% and a return on equity of 7.72%. Four Corners Property Trust’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. On average, analysts forecast that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.345 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.38 dividend on an annualized basis and a yield of 4.67%. Four Corners Property Trust’s payout ratio is 128.97%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Evercore ISI boosted 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. Wells Fargo & Company raised Four Corners Property Trust to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Raymond James lifted their target price on Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.00.

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.