Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 6.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,774,103 shares of the financial services provider’s stock after buying an additional 102,662 shares during the period. Principal Financial Group Inc. owned about 1.83% of Four Corners Property Trust worth $51,996,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Verdence Capital Advisors LLC raised its holdings in Four Corners Property Trust by 4.5% in the third quarter. Verdence Capital Advisors LLC now owns 12,298 shares of the financial services provider’s stock valued at $360,000 after acquiring an additional 527 shares in the last quarter. MML Investors Services LLC boosted its stake in Four Corners Property Trust by 5.6% in the third quarter. MML Investors Services LLC now owns 11,881 shares of the financial services provider’s stock valued at $348,000 after acquiring an additional 635 shares in the last quarter. GAMMA Investing LLC boosted its position 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 purchasing an additional 814 shares during the period. Arizona State Retirement System grew its position in shares of Four Corners Property Trust by 3.5% during the second quarter. Arizona State Retirement System now owns 25,753 shares of the financial services provider’s stock worth $635,000 after acquiring an additional 863 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in 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 purchasing an additional 921 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on FCPT shares. Barclays began coverage on Four Corners Property Trust in a research report on Tuesday, December 17th. They issued an “equal weight” rating and a $31.00 price target on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a report on Tuesday, December 10th. Evercore ISI upped their target price on shares of 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. UBS Group assumed coverage on Four Corners Property Trust in a report on Thursday, November 14th. They issued a “buy” rating and a $33.00 target price on the stock. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. Three investment 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, Four Corners Property Trust has a consensus rating of “Moderate Buy” and an average price target of $30.60.

Four Corners Property Trust Trading Up 1.6 %

Shares of Four Corners Property Trust stock opened at $27.16 on Monday. The business’s fifty day moving average is $28.62 and its two-hundred day moving average is $27.65. Four Corners Property Trust, Inc. has a fifty-two week low of $22.38 and a fifty-two week high of $30.93. The firm has a market cap of $2.63 billion, a PE ratio of 25.38 and a beta of 1.12. 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 (NYSE:FCPT) last posted 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). Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. The company had revenue of $66.79 million for the quarter, compared to analysts’ expectations of $63.50 million. During the same period in the prior year, the business earned $0.42 EPS. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. Analysts anticipate that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current year.

Four Corners Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 5.23%. This is a boost 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 payout ratio is 132.71%.

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.