Cape ANN Savings Bank Acquires New Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Cape ANN Savings Bank bought a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,833 shares of the financial services provider’s stock, valued at approximately $200,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Covestor Ltd raised its stake in Four Corners Property Trust by 23.2% during the first quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 470 shares during the period. GAMMA Investing LLC increased its holdings in shares of 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 worth $123,000 after buying an additional 814 shares during the last quarter. Arizona State Retirement System raised its position in shares of 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 period. Larson Financial Group LLC boosted its holdings in Four Corners Property Trust by 25,000.0% in the first quarter. Larson Financial Group LLC now owns 1,004 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Texas Permanent School Fund Corp grew its position in Four Corners Property Trust by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 79,262 shares of the financial services provider’s stock valued at $1,940,000 after acquiring an additional 1,028 shares during the period. 98.66% of the stock is owned by hedge funds and other institutional investors.

Four Corners Property Trust Price Performance

FCPT stock opened at $28.52 on Wednesday. The stock has a 50-day simple moving average of $28.43 and a 200-day simple moving average of $25.92. The firm has a market cap of $2.62 billion, a P/E ratio of 26.65 and a beta of 1.10. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.13 and a current ratio of 0.13. Four Corners Property Trust, Inc. has a 1 year low of $20.51 and a 1 year 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 (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.14). Four Corners Property Trust had a net margin of 37.01% and a return on equity of 7.72%. The firm had revenue of $66.48 million during the quarter, compared to analyst estimates of $63.70 million. During the same period last year, the business earned $0.42 EPS. The firm’s revenue was up 9.5% compared to the same quarter last year. On average, equities analysts predict 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 declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a yield of 4.84%. The ex-dividend date of this dividend is Monday, September 30th. Four Corners Property Trust’s dividend payout ratio (DPR) is 128.97%.

Analyst Upgrades and Downgrades

FCPT has been the topic of a number of research reports. Raymond James raised their price objective on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Wells Fargo & Company restated an “overweight” rating and issued a $32.00 price target (up previously from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Evercore ISI boosted their price objective on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Finally, JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Four Corners Property Trust presently has a consensus rating of “Moderate Buy” and an average price target of $29.67.

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.