Four Corners Property Trust Inc (NYSE:FCPT) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN increased its holdings in Four Corners Property Trust Inc (NYSE:FCPT) by 13.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,445,977 shares of the financial services provider’s stock after purchasing an additional 169,943 shares during the period. Wells Fargo & Company MN’s holdings in Four Corners Property Trust were worth $42,801,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund purchased a new position in shares of Four Corners Property Trust during the 4th quarter valued at about $26,000. Royal London Asset Management Ltd. purchased a new position in shares of Four Corners Property Trust during the 1st quarter valued at about $26,000. NumerixS Investment Technologies Inc lifted its position in shares of Four Corners Property Trust by 50.0% during the 4th quarter. NumerixS Investment Technologies Inc now owns 1,200 shares of the financial services provider’s stock valued at $31,000 after buying an additional 400 shares in the last quarter. Lindbrook Capital LLC purchased a new position in shares of Four Corners Property Trust during the 4th quarter valued at about $32,000. Finally, Osborn Williams & Donohoe LLC purchased a new position in Four Corners Property Trust in the 1st quarter worth approximately $101,000. Institutional investors own 89.89% of the company’s stock.

Shares of NYSE FCPT traded up $0.33 during mid-day trading on Wednesday, reaching $28.15. 9,474 shares of the company were exchanged, compared to its average volume of 370,026. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.78 and a quick ratio of 5.78. The stock has a market capitalization of $1.91 billion, a P/E ratio of 19.87 and a beta of 0.27. Four Corners Property Trust Inc has a 1 year low of $22.64 and a 1 year high of $29.85.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.10). The company had revenue of $39.60 million for the quarter, compared to analysts’ expectations of $39.84 million. Four Corners Property Trust had a return on equity of 12.63% and a net margin of 56.35%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 earnings per share. As a group, equities research analysts anticipate that Four Corners Property Trust Inc will post 1.44 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.287 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Thursday, June 27th. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 81.56%.

Several equities analysts have recently weighed in on the company. Zacks Investment Research downgraded Four Corners Property Trust from a “buy” rating to a “hold” rating in a research report on Thursday, February 14th. Barclays assumed coverage on Four Corners Property Trust in a research report on Wednesday, May 15th. They issued an “equal weight” rating and a $29.00 price objective on the stock. Boenning Scattergood set a $30.00 price objective on Four Corners Property Trust and gave the company a “buy” rating in a research report on Friday, February 15th. Finally, Berenberg Bank assumed coverage on Four Corners Property Trust in a research report on Tuesday, April 23rd. They issued a “hold” rating and a $36.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Four Corners Property Trust presently has an average rating of “Hold” and an average target price of $30.40.

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Four Corners Property Trust Profile

FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio primarily by acquiring additional real estate to lease, on a net basis, for use in the restaurant and food industry.

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Institutional Ownership by Quarter for Four Corners Property Trust (NYSE:FCPT)

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