Nomura Asset Management Co. Ltd. Increases Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Nomura Asset Management Co. Ltd. increased its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 116,480 shares of the financial services provider’s stock after acquiring an additional 2,600 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.12% of Four Corners Property Trust worth $3,414,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. grew its position in shares of Four Corners Property Trust by 1,469.1% in the second quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 3,467 shares during the period. Boston Trust Walden Corp increased its stake in shares of Four Corners Property Trust by 18.7% during the 2nd quarter. Boston Trust Walden Corp now owns 1,216,760 shares of the financial services provider’s stock valued at $30,017,000 after acquiring an additional 191,259 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Four Corners Property Trust by 3.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 46,300 shares of the financial services provider’s stock valued at $1,142,000 after acquiring an additional 1,400 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Four Corners Property Trust by 2.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 986,291 shares of the financial services provider’s stock worth $24,332,000 after acquiring an additional 22,792 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Four Corners Property Trust by 5.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,403 shares of the financial services provider’s stock worth $1,836,000 after acquiring an additional 3,597 shares during the last quarter. 98.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on FCPT. Evercore ISI upped their price target on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Raymond James increased their target price on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. UBS Group assumed coverage on Four Corners Property Trust in a research report on Thursday, November 14th. They set a “buy” rating and a $33.00 price target for the company. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a report on Tuesday. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $32.00 target price (up previously from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Four Corners Property Trust has a consensus rating of “Moderate Buy” and an average price target of $30.50.

Four Corners Property Trust Stock Down 0.6 %

Shares of NYSE FCPT opened at $28.73 on Friday. The stock has a fifty day moving average price of $28.73 and a 200 day moving average price of $27.49. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38. Four Corners Property Trust, Inc. has a 12-month low of $22.38 and a 12-month high of $30.93. The company has a market cap of $2.78 billion, a P/E ratio of 26.85 and a beta of 1.12.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.14). The company had revenue of $66.79 million for the quarter, compared to analysts’ expectations of $63.50 million. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 earnings per share. Research analysts anticipate that Four Corners Property Trust, Inc. will post 1.66 EPS for the current fiscal year.

Four Corners Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.355 per share. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend is Tuesday, December 31st. Four Corners Property Trust’s payout ratio is presently 128.97%.

About Four Corners Property Trust

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.