UBS Oconnor LLC Raises Position in Four Corners Property Trust Inc (NYSE:FCPT)

UBS Oconnor LLC grew its holdings in Four Corners Property Trust Inc (NYSE:FCPT) by 41.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 337,000 shares of the financial services provider’s stock after purchasing an additional 99,300 shares during the quarter. UBS Oconnor LLC owned about 0.49% of Four Corners Property Trust worth $9,210,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Marshall Wace North America L.P. lifted its stake in Four Corners Property Trust by 37.8% in the 1st quarter. Marshall Wace North America L.P. now owns 2,328 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 638 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Four Corners Property Trust in the 2nd quarter worth approximately $128,000. Raymond James Trust N.A. lifted its stake in Four Corners Property Trust by 9.4% in the 2nd quarter. Raymond James Trust N.A. now owns 7,594 shares of the financial services provider’s stock worth $208,000 after purchasing an additional 654 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Four Corners Property Trust in the 2nd quarter worth approximately $208,000. Finally, Teza Capital Management LLC purchased a new position in Four Corners Property Trust in the 2nd quarter worth approximately $216,000. 91.50% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have weighed in on the stock. Janney Montgomery Scott assumed coverage on shares of Four Corners Property Trust in a research note on Friday, June 21st. They issued a “buy” rating and a $32.00 target price on the stock. Zacks Investment Research lowered shares of Four Corners Property Trust from a “hold” rating to a “sell” rating in a research note on Wednesday. ValuEngine downgraded shares of Four Corners Property Trust from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, Berenberg Bank upgraded shares of Four Corners Property Trust from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $31.40.

Shares of NYSE FCPT traded up $0.02 during midday trading on Thursday, reaching $28.48. 12,872 shares of the stock were exchanged, compared to its average volume of 292,054. The company has a 50 day simple moving average of $28.03 and a 200 day simple moving average of $28.29. The stock has a market capitalization of $1.94 billion, a P/E ratio of 20.21 and a beta of 0.16. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.77 and a current ratio of 3.77. Four Corners Property Trust Inc has a twelve month low of $24.58 and a twelve month high of $29.85.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.10). The firm had revenue of $39.57 million for the quarter, compared to analyst estimates of $40.64 million. Four Corners Property Trust had a return on equity of 10.75% and a net margin of 48.31%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 EPS. On average, research analysts expect that Four Corners Property Trust Inc will post 1.32 earnings per share for the current year.

Four Corners Property Trust Company 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.

Further Reading: Why do analysts give a neutral rating?

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

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