DekaBank Deutsche Girozentrale Buys 37,855 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

DekaBank Deutsche Girozentrale boosted its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 180.7% in the fourth quarter, Holdings Channel reports. The firm owned 58,806 shares of the financial services provider’s stock after acquiring an additional 37,855 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Four Corners Property Trust were worth $1,481,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of FCPT. FMR LLC lifted its holdings in shares of Four Corners Property Trust by 12.1% during the third quarter. FMR LLC now owns 9,831,411 shares of the financial services provider’s stock worth $218,159,000 after buying an additional 1,061,170 shares during the last quarter. Norges Bank acquired a new position in shares of Four Corners Property Trust during the fourth quarter worth approximately $22,201,000. Millennium Management LLC lifted its holdings in shares of Four Corners Property Trust by 3,063.1% during the second quarter. Millennium Management LLC now owns 822,438 shares of the financial services provider’s stock worth $21,869,000 after buying an additional 796,437 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Four Corners Property Trust by 3.7% during the second quarter. BlackRock Inc. now owns 15,934,776 shares of the financial services provider’s stock worth $404,743,000 after buying an additional 564,173 shares during the last quarter. Finally, Balyasny Asset Management LLC acquired a new position in shares of Four Corners Property Trust in the third quarter valued at $10,213,000. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FCPT has been the subject of a number of recent research reports. Raymond James cut their target price on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, January 8th. Wells Fargo & Company upped their target price on Four Corners Property Trust from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th.

Four Corners Property Trust Stock Performance

Shares of NYSE FCPT opened at $23.34 on Monday. The business has a fifty day simple moving average of $23.85 and a 200 day simple moving average of $23.53. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 21.61 and a beta of 1.00. Four Corners Property Trust, Inc. has a one year low of $20.51 and a one year high of $27.60.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results on Thursday, February 15th. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.13). Four Corners Property Trust had a net margin of 38.04% and a return on equity of 7.78%. The company had revenue of $65.14 million during the quarter, compared to the consensus estimate of $65.23 million. During the same quarter last year, the company earned $0.41 earnings per share. The business’s revenue was up 13.6% on a year-over-year basis. Sell-side analysts expect that Four Corners Property Trust, Inc. will post 1.64 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be given a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date is Wednesday, March 27th. Four Corners Property Trust’s dividend payout ratio (DPR) is 127.78%.

Four Corners Property Trust 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.