Natixis Advisors LLC Has $915,000 Stake in Four Corners Property Trust, Inc. (NYSE:FCPT)

Natixis Advisors LLC raised its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 4.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,209 shares of the financial services provider’s stock after acquiring an additional 1,377 shares during the quarter. Natixis Advisors LLC’s holdings in Four Corners Property Trust were worth $915,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Blue Trust Inc. grew 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 purchasing an additional 3,467 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Four Corners Property Trust by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock worth $106,000 after buying an additional 921 shares during the period. GAMMA Investing LLC increased its stake in shares of Four Corners Property Trust by 24.0% in the 3rd quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 814 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Four Corners Property Trust by 491.0% during the 1st quarter. Lazard Asset Management LLC now owns 7,973 shares of the financial services provider’s stock valued at $195,000 after acquiring an additional 6,624 shares during the period. Finally, Cape ANN Savings Bank bought a new position in Four Corners Property Trust during the third quarter worth $200,000. 98.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FCPT shares. Wells Fargo & Company reiterated an “overweight” rating and set a $32.00 price objective (up previously from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Evercore ISI raised 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 report on Wednesday, August 28th. Raymond James increased their price objective on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. UBS Group started coverage on Four Corners Property Trust in a research report on Thursday, November 14th. They set a “buy” rating and a $33.00 target price on the stock. Finally, JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $30.50.

Four Corners Property Trust Stock Performance

FCPT stock opened at $29.54 on Thursday. The business has a 50 day moving average of $28.81 and a 200-day moving average of $27.12. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38. Four Corners Property Trust, Inc. has a 12-month low of $22.38 and a 12-month high of $30.93. The firm has a market cap of $2.86 billion, a PE ratio of 27.50 and a beta of 1.11.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Wednesday, October 30th. 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 $66.79 million during the quarter, compared to analysts’ expectations of $63.50 million. Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. Four Corners Property Trust’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share. As a group, sell-side analysts expect that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current year.

Four Corners Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 4.81%. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Tuesday, December 31st. Four Corners Property Trust’s dividend payout ratio is 132.71%.

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.