Four Corners Property Trust, Inc. (NYSE:FCPT) Stock Position Decreased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 20.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,021 shares of the financial services provider’s stock after selling 8,183 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Four Corners Property Trust were worth $939,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Larson Financial Group LLC increased its stake in shares of Four Corners Property Trust by 25,000.0% during the first quarter. Larson Financial Group LLC now owns 1,004 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 1,000 shares during the period. Covestor Ltd raised its holdings in shares of 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 valued at $61,000 after acquiring an additional 470 shares during the period. Blue Trust Inc. raised its stake in Four Corners Property Trust by 1,469.1% during the 2nd quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 3,467 shares during the period. GAMMA Investing LLC raised its position in Four Corners Property Trust by 24.0% during the third quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock valued at $123,000 after buying an additional 814 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in shares of 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 purchasing an additional 6,624 shares during the period. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Trading Down 1.1 %

FCPT stock opened at $27.56 on Friday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $29.02 and its 200-day moving average is $26.47. Four Corners Property Trust, Inc. has a 1-year low of $20.89 and a 1-year high of $30.93. The firm has a market cap of $2.54 billion, a P/E ratio of 25.76 and a beta of 1.10.

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

Four Corners Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.345 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.38 annualized dividend and a dividend yield of 5.01%. Four Corners Property Trust’s dividend payout ratio is currently 128.97%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FCPT. Raymond James boosted their target price on Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Wells Fargo & Company restated an “overweight” rating and set a $32.00 target price (up from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Finally, Evercore ISI increased their price objective on Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th.

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.