Sumitomo Mitsui Trust Holdings Inc. Acquires 6,271 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 6.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,975 shares of the financial services provider’s stock after purchasing an additional 6,271 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Four Corners Property Trust were worth $2,706,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of 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 in the last quarter. Northern Trust Corp lifted its position in shares of 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 in the last quarter. FMR LLC lifted its position in shares of Four Corners Property Trust by 12.1% in the third quarter. FMR LLC now owns 9,831,411 shares of the financial services provider’s stock worth $218,159,000 after purchasing an additional 1,061,170 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Four Corners Property Trust by 34.9% in the third quarter. Deutsche Bank AG now owns 507,017 shares of the financial services provider’s stock worth $11,251,000 after purchasing an additional 131,262 shares in the last quarter. Finally, Invesco Ltd. raised its position in 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 worth $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 research firms have issued reports on FCPT. Raymond James dropped their price target on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, January 8th. Wells Fargo & Company upped their price target on shares of Four Corners Property Trust from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th.

Four Corners Property Trust Stock Performance

NYSE FCPT opened at $23.61 on Thursday. The firm has a market capitalization of $2.17 billion, a P/E ratio of 21.86 and a beta of 1.00. The firm’s fifty day moving average price is $23.85 and its two-hundred day moving average price is $23.58. Four Corners Property Trust, Inc. has a 1 year low of $20.51 and a 1 year high of $27.60. 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 (NYSE:FCPT) last issued its quarterly earnings data on Thursday, February 15th. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.13). The company had revenue of $65.14 million during the quarter, compared to the consensus estimate of $65.23 million. Four Corners Property Trust had a net margin of 38.04% and a return on equity of 7.78%. Four Corners Property Trust’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 earnings per share. As a group, research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 5.85%. The ex-dividend date was Wednesday, March 27th. Four Corners Property Trust’s payout ratio is presently 127.78%.

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.