Mirae Asset Global Investments Co. Ltd. Increases Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

Mirae Asset Global Investments Co. Ltd. raised its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 34.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,570 shares of the financial services provider’s stock after purchasing an additional 921 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Four Corners Property Trust were worth $106,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Larson Financial Group LLC raised its holdings in shares of Four Corners Property Trust by 25,000.0% during the 1st quarter. Larson Financial Group LLC now owns 1,004 shares of the financial services provider’s stock valued at $25,000 after buying an additional 1,000 shares during the period. Covestor Ltd boosted its stake in shares of Four Corners Property Trust by 23.2% in the first quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 470 shares during the period. Blue Trust Inc. grew its holdings 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 in the last quarter. GAMMA Investing LLC grew its holdings in Four Corners Property Trust by 24.0% during the 3rd quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 814 shares in the last quarter. Finally, Lazard Asset Management LLC lifted 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 worth $195,000 after buying an additional 6,624 shares in the last quarter. 98.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FCPT shares. Evercore ISI lifted their target price on Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Raymond James increased their price objective on shares of 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 reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st.

Four Corners Property Trust Stock Up 1.3 %

FCPT stock opened at $27.72 on Tuesday. The firm has a fifty day moving average price of $29.03 and a two-hundred day moving average price of $26.56. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.17 and a quick ratio of 0.13. Four Corners Property Trust, Inc. has a 1-year low of $21.60 and a 1-year high of $30.93. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 25.91 and a beta of 1.11.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The company had revenue of $66.79 million during the quarter, compared to the consensus estimate of $63.50 million. During the same quarter in the previous year, the business posted $0.42 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Research analysts predict that Four Corners Property Trust, Inc. will post 1.66 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend was Monday, September 30th. Four Corners Property Trust’s dividend payout ratio (DPR) is 128.97%.

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.