Cullen Frost Bankers Inc. Sells 533 Shares of Four Corners Property Trust Inc (NYSE:FCPT)

Cullen Frost Bankers Inc. reduced its position in shares of Four Corners Property Trust Inc (NYSE:FCPT) by 2.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 23,461 shares of the financial services provider’s stock after selling 533 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Four Corners Property Trust were worth $664,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its holdings in shares of Four Corners Property Trust by 2.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 20,502 shares of the financial services provider’s stock worth $581,000 after buying an additional 468 shares during the period. 6 Meridian boosted its holdings in Four Corners Property Trust by 2.0% in the 2nd quarter. 6 Meridian now owns 25,958 shares of the financial services provider’s stock valued at $709,000 after purchasing an additional 507 shares during the period. Marshall Wace North America L.P. boosted its holdings 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 valued at $69,000 after purchasing an additional 638 shares during the period. Raymond James Trust N.A. boosted its holdings 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 valued at $208,000 after purchasing an additional 654 shares during the period. Finally, Arizona State Retirement System boosted its holdings in Four Corners Property Trust by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 106,106 shares of the financial services provider’s stock valued at $2,900,000 after purchasing an additional 668 shares during the period. 91.70% of the stock is owned by institutional investors and hedge funds.

A number of analysts have weighed in on FCPT shares. Zacks Investment Research downgraded shares of Four Corners Property Trust from a “hold” rating to a “sell” rating in a report on Wednesday, September 18th. Berenberg Bank raised shares of Four Corners Property Trust from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, ValuEngine downgraded shares of Four Corners Property Trust from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.40.

Shares of Four Corners Property Trust stock opened at $27.11 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.41 and a quick ratio of 3.41. Four Corners Property Trust Inc has a fifty-two week low of $24.97 and a fifty-two week high of $29.85. The firm has a fifty day moving average price of $28.34 and a two-hundred day moving average price of $28.18. The company has a market cap of $1.89 billion, a PE ratio of 19.23 and a beta of 0.15.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). Four Corners Property Trust had a net margin of 47.59% and a return on equity of 10.90%. The company had revenue of $40.18 million during the quarter, compared to the consensus estimate of $40.49 million. Analysts expect that Four Corners Property Trust Inc will post 1.32 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were paid a $0.2875 dividend. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.24%. Four Corners Property Trust’s dividend payout ratio is currently 81.56%.

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.

Further Reading: What is Call Option Volume?

Want to see what other hedge funds are holding FCPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Four Corners Property Trust Inc (NYSE:FCPT).

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

Receive News & Ratings for Four Corners Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Four Corners Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.