Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Acquired by Earnest Partners LLC

Earnest Partners LLC increased its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 31.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,188,779 shares of the financial services provider’s stock after purchasing an additional 759,749 shares during the quarter. Earnest Partners LLC owned approximately 3.47% of Four Corners Property Trust worth $78,667,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its stake in Four Corners Property Trust by 25,000.0% in the 1st quarter. Larson Financial Group LLC now owns 1,004 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,000 shares in the last quarter. Covestor Ltd lifted its position in Four Corners Property Trust by 23.2% during the first quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock worth $61,000 after buying an additional 470 shares in the last quarter. Blue Trust Inc. boosted its stake in Four Corners Property Trust by 1,469.1% during the second quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock worth $91,000 after buying an additional 3,467 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Four Corners Property Trust by 491.0% in the 1st quarter. Lazard Asset Management LLC now owns 7,973 shares of the financial services provider’s stock valued at $195,000 after buying an additional 6,624 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Four Corners Property Trust by 31.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,626 shares of the financial services provider’s stock worth $269,000 after acquiring an additional 2,551 shares during the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Trading Down 0.4 %

Shares of FCPT stock opened at $29.45 on Friday. Four Corners Property Trust, Inc. has a 1-year low of $20.51 and a 1-year high of $30.93. The firm has a market cap of $2.73 billion, a PE ratio of 27.52 and a beta of 1.10. The company has a 50-day moving average of $28.13 and a two-hundred day moving average of $25.64. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.13 and a quick ratio of 0.13.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). The company had revenue of $66.48 million for the quarter, compared to analysts’ expectations of $63.70 million. Four Corners Property Trust had a return on equity of 7.72% and a net margin of 37.01%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 EPS. On average, analysts predict that Four Corners Property Trust, Inc. will post 1.66 EPS for the current year.

Four Corners Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.345 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 4.69%. Four Corners Property Trust’s payout ratio is presently 128.97%.

Analyst Ratings Changes

FCPT has been the topic of several recent research reports. Wells Fargo & Company raised shares of Four Corners Property Trust to a “strong-buy” rating in a research report on Monday, August 12th. Evercore ISI increased their price target on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Finally, Raymond James upped their price objective on Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Four Corners Property Trust presently has a consensus rating of “Moderate Buy” and an average target price of $27.00.

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.