Cornercap Investment Counsel Inc. Takes Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Cornercap Investment Counsel Inc. acquired a new position in Four Corners Property Trust, Inc. (NYSE:FCPT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,010 shares of the financial services provider’s stock, valued at approximately $299,000.

Other institutional investors also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. grew its position in shares of Four Corners Property Trust by 11.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 129,500 shares of the financial services provider’s stock worth $3,515,000 after buying an additional 13,020 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in Four Corners Property Trust in the fourth quarter worth about $3,720,000. Norges Bank bought a new position in Four Corners Property Trust during the 4th quarter worth about $7,254,000. JPMorgan Chase & Co. increased its position in Four Corners Property Trust by 6.3% during the 4th quarter. JPMorgan Chase & Co. now owns 417,304 shares of the financial services provider’s stock valued at $11,326,000 after purchasing an additional 24,856 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Four Corners Property Trust by 7.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 63,406 shares of the financial services provider’s stock valued at $1,722,000 after purchasing an additional 4,437 shares in the last quarter. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Four Corners Property Trust Price Performance

NYSE FCPT opened at $28.52 on Friday. The firm’s fifty day simple moving average is $28.11 and its two-hundred day simple moving average is $28.37. The firm has a market capitalization of $2.85 billion, a P/E ratio of 26.65 and a beta of 1.16. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.36. Four Corners Property Trust, Inc. has a 12-month low of $22.38 and a 12-month high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.16. Four Corners Property Trust had a return on equity of 7.54% and a net margin of 37.48%. Analysts forecast that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Monday, March 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 132.71%.

Wall Street Analyst Weigh In

FCPT has been the topic of a number of recent research reports. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. Barclays dropped their target price on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company boosted their price target on Four Corners Property Trust from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, March 10th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Four Corners Property Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.20.

About Four Corners Property Trust

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.