Pinebridge Investments L.P. Has $36,000 Stock Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Pinebridge Investments L.P. raised its position in Four Corners Property Trust, Inc. (NYSE:FCPTGet Rating) by 347.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,341 shares of the financial services provider’s stock after acquiring an additional 1,041 shares during the period. Pinebridge Investments L.P.’s holdings in Four Corners Property Trust were worth $36,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FCPT. Truist Financial Corp raised its holdings in shares of Four Corners Property Trust by 4.3% in the 1st quarter. Truist Financial Corp now owns 34,566 shares of the financial services provider’s stock worth $935,000 after buying an additional 1,435 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Four Corners Property Trust by 1.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 23,073 shares of the financial services provider’s stock worth $624,000 after buying an additional 398 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Four Corners Property Trust by 5.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 11,146 shares of the financial services provider’s stock worth $301,000 after buying an additional 578 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Four Corners Property Trust by 4.0% in the 1st quarter. Verdence Capital Advisors LLC now owns 12,175 shares of the financial services provider’s stock worth $329,000 after buying an additional 468 shares in the last quarter. Finally, Jackson Creek Investment Advisors LLC raised its holdings in shares of Four Corners Property Trust by 6.7% in the 1st quarter. Jackson Creek Investment Advisors LLC now owns 39,164 shares of the financial services provider’s stock worth $1,059,000 after buying an additional 2,462 shares in the last quarter. 94.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FCPT shares. Robert W. Baird dropped their target price on Four Corners Property Trust from $30.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, October 7th. Raymond James decreased their price target on Four Corners Property Trust from $30.00 to $28.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 4th. Berenberg Bank lowered Four Corners Property Trust from a “buy” rating to a “hold” rating and decreased their price target for the stock from $31.00 to $30.00 in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. StockNews.com initiated coverage on Four Corners Property Trust in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Janney Montgomery Scott lowered Four Corners Property Trust to a “neutral” rating in a research report on Tuesday, August 9th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $28.33.

Four Corners Property Trust Stock Down 0.7 %

Shares of FCPT opened at $26.37 on Thursday. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 21.44 and a beta of 0.88. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.51 and a current ratio of 3.51. The business’s fifty day moving average price is $25.21 and its two-hundred day moving average price is $26.65. Four Corners Property Trust, Inc. has a 52 week low of $22.67 and a 52 week high of $30.13.

Four Corners Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were given a $0.333 dividend. This represents a $1.33 dividend on an annualized basis and a yield of 5.05%. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, September 29th. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 108.13%.

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.

See Also

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

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