Daiwa Securities Group Inc. Sells 1,359 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Daiwa Securities Group Inc. decreased its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 4.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,524 shares of the financial services provider’s stock after selling 1,359 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Four Corners Property Trust were worth $696,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Four Corners Property Trust by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 10,224,604 shares of the financial services provider’s stock worth $226,884,000 after acquiring 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 3rd 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 period. FMR LLC lifted its position in shares of Four Corners Property Trust by 12.1% in the 3rd 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 during the period. Deutsche Bank AG boosted 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 purchasing an additional 131,262 shares in the last quarter. Finally, Invesco Ltd. increased its holdings 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 valued at $50,003,000 after buying an additional 72,055 shares during the period. 98.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Four Corners Property Trust Stock Performance

Shares of FCPT stock opened at $23.49 on Friday. Four Corners Property Trust, Inc. has a 12-month low of $20.51 and a 12-month high of $27.60. The business’s fifty day simple moving average is $23.86 and its 200-day simple moving average is $23.58. 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 company has a market cap of $2.16 billion, a PE ratio of 21.75 and a beta of 1.00.

Four Corners Property Trust (NYSE:FCPT) last announced its 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 net margin of 38.04% and a return on equity of 7.78%. The business had revenue of $65.14 million for the quarter, compared to analyst estimates of $65.23 million. During the same period in the prior year, the company earned $0.41 earnings per share. The company’s quarterly revenue was up 13.6% on a year-over-year basis. Analysts expect that Four Corners Property Trust, Inc. will post 1.64 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date of this dividend was Wednesday, March 27th. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 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.