Graham Capital Management L.P. acquired a new stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT – Free Report) in the third quarter, Holdings Channel.com reports. The firm acquired 16,754 shares of the financial services provider’s stock, valued at approximately $372,000.
Other institutional investors have also modified their holdings of the company. FMR LLC grew its position in shares of Four Corners Property Trust by 12.1% during the 3rd quarter. FMR LLC now owns 9,831,411 shares of the financial services provider’s stock valued at $218,159,000 after acquiring an additional 1,061,170 shares during the period. Norges Bank acquired a new stake in shares of Four Corners Property Trust during the 4th quarter valued at about $22,201,000. Millennium Management LLC grew its position in shares of Four Corners Property Trust by 3,063.1% during the 2nd quarter. Millennium Management LLC now owns 822,438 shares of the financial services provider’s stock valued at $21,869,000 after acquiring an additional 796,437 shares during the period. BlackRock Inc. grew its position in shares of Four Corners Property Trust by 3.7% during the 2nd quarter. BlackRock Inc. now owns 15,934,776 shares of the financial services provider’s stock valued at $404,743,000 after acquiring an additional 564,173 shares during the period. Finally, Balyasny Asset Management LLC acquired a new stake in shares of Four Corners Property Trust during the 3rd quarter valued at about $10,213,000. Hedge funds and other institutional investors own 93.46% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on FCPT shares. Raymond James lowered their price objective on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a report on Monday, January 8th. Wells Fargo & Company lifted their price objective on Four Corners Property Trust from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th.
Get Our Latest Stock Report on Four Corners Property Trust
Four Corners Property Trust Trading Up 3.3 %
FCPT opened at $24.55 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.12 and a quick ratio of 0.12. The company’s 50 day simple moving average is $23.96 and its two-hundred day simple moving average is $23.55. Four Corners Property Trust, Inc. has a 1-year low of $20.51 and a 1-year high of $27.60. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 22.73 and a beta of 1.00.
Four Corners Property Trust (NYSE:FCPT – Get Free Report) last released its earnings results on Thursday, February 15th. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.13). Four Corners Property Trust had a return on equity of 7.78% and a net margin of 38.04%. The business had revenue of $65.14 million during the quarter, compared to analysts’ expectations of $65.23 million. During the same period last year, the business earned $0.41 earnings per share. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. Analysts expect that Four Corners Property Trust, Inc. will post 1.64 EPS for the current fiscal year.
Four Corners Property Trust Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a dividend yield of 5.62%. The ex-dividend date is Wednesday, March 27th. Four Corners Property Trust’s payout ratio is presently 127.78%.
Four Corners Property Trust Company Profile
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.
See Also
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