Zurcher Kantonalbank Zurich Cantonalbank Purchases 33,062 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 71.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,493 shares of the financial services provider’s stock after purchasing an additional 33,062 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Four Corners Property Trust were worth $2,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Four Corners Property Trust by 1.0% in the third quarter. Vanguard Group Inc. now owns 10,224,604 shares of the financial services provider’s stock worth $226,884,000 after purchasing an additional 102,504 shares during the last quarter. Northern Trust Corp lifted its stake in Four Corners Property Trust by 4.5% in the third quarter. Northern Trust Corp now owns 1,163,576 shares of the financial services provider’s stock worth $25,820,000 after purchasing an additional 50,303 shares during the last quarter. FMR LLC raised its stake 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 valued at $218,159,000 after acquiring an additional 1,061,170 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Four Corners Property Trust by 34.9% during the third quarter. Deutsche Bank AG now owns 507,017 shares of the financial services provider’s stock valued at $11,251,000 after acquiring an additional 131,262 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Four Corners Property Trust by 3.3% during the third quarter. Invesco Ltd. now owns 2,253,418 shares of the financial services provider’s stock valued at $50,003,000 after acquiring an additional 72,055 shares in the last quarter. Institutional investors own 98.66% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on FCPT shares. Raymond James decreased their price target on shares of 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 lifted their price target on shares of 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 Price Performance

NYSE FCPT opened at $23.67 on Wednesday. The firm’s fifty day simple moving average is $23.83 and its two-hundred day simple moving average is $23.56. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.35. Four Corners Property Trust, Inc. has a 12-month low of $20.51 and a 12-month high of $27.60. The firm has a market capitalization of $2.18 billion, a P/E ratio of 21.92 and a beta of 1.00.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Thursday, February 15th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.13). Four Corners Property Trust had a return on equity of 7.78% and a net margin of 38.04%. The firm had revenue of $65.14 million during the quarter, compared to analysts’ expectations of $65.23 million. During the same period in the prior year, the firm posted $0.41 earnings per share. Four Corners Property Trust’s revenue for the quarter was up 13.6% compared to the same quarter last year. Analysts forecast that Four Corners Property Trust, Inc. will post 1.64 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.345 dividend. This represents a $1.38 annualized dividend and a yield of 5.83%. The ex-dividend date was Wednesday, March 27th. Four Corners Property Trust’s dividend payout ratio is currently 127.78%.

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.