abrdn plc Increases Stake in Four Corners Property Trust, Inc. (NYSE:FCPT)

abrdn plc increased its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPTGet Rating) by 4.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 17,142 shares of the financial services provider’s stock after purchasing an additional 792 shares during the period. abrdn plc’s holdings in Four Corners Property Trust were worth $459,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in FCPT. Pinebridge Investments L.P. purchased a new stake in shares of Four Corners Property Trust in the 4th quarter valued at approximately $41,000. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Four Corners Property Trust by 211.7% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,780 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 1,209 shares during the last quarter. UMB Bank N A MO purchased a new stake in shares of Four Corners Property Trust in the 4th quarter valued at approximately $75,000. Point72 Hong Kong Ltd purchased a new stake in shares of Four Corners Property Trust in the 4th quarter valued at approximately $113,000. Finally, Schroder Investment Management Group increased its position in shares of Four Corners Property Trust by 30.7% in the 4th quarter. Schroder Investment Management Group now owns 5,992 shares of the financial services provider’s stock valued at $176,000 after purchasing an additional 1,409 shares during the last quarter. 92.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Raymond James increased their price objective on shares of Four Corners Property Trust from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, July 8th. Janney Montgomery Scott downgraded shares of Four Corners Property Trust from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a research report on Monday. Berenberg Bank downgraded shares of Four Corners Property Trust from a “buy” rating to a “hold” rating and dropped their target price for the company from $31.00 to $30.00 in a research report on Tuesday. They noted that the move was a valuation call. Finally, Credit Suisse Group initiated coverage on shares of Four Corners Property Trust in a research report on Wednesday, June 22nd. They issued a “neutral” rating and a $26.00 target price on the stock. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $29.75.

Four Corners Property Trust Stock Down 1.2 %

Shares of NYSE:FCPT opened at $28.18 on Thursday. The stock has a market cap of $2.30 billion, a P/E ratio of 23.29 and a beta of 0.86. The firm has a fifty day moving average price of $27.26 and a 200 day moving average price of $27.10. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.85 and a quick ratio of 2.85. Four Corners Property Trust, Inc. has a 1-year low of $24.24 and a 1-year high of $30.13.

Four Corners Property Trust (NYSE:FCPTGet Rating) last issued its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.12). Four Corners Property Trust had a return on equity of 10.01% and a net margin of 44.68%. During the same quarter last year, the firm posted $0.38 EPS. Sell-side analysts predict that Four Corners Property Trust, Inc. will post 1.59 EPS for the current year.

Four Corners Property Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were paid a dividend of $0.3325 per share. This represents a $1.33 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend was Wednesday, June 29th. Four Corners Property Trust’s dividend payout ratio is currently 109.92%.

Four Corners Property Trust Company Profile

(Get Rating)

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant 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.

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Institutional Ownership by Quarter for Four Corners Property Trust (NYSE:FCPT)

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