Exchange Traded Concepts LLC Has $2.29 Million Stock Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

Exchange Traded Concepts LLC reduced its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 6.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 84,486 shares of the financial services provider’s stock after selling 5,927 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Four Corners Property Trust were worth $2,293,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of FCPT. Inspire Investing LLC lifted its position in Four Corners Property Trust by 20.2% during the fourth quarter. Inspire Investing LLC now owns 18,898 shares of the financial services provider’s stock worth $513,000 after purchasing an additional 3,179 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Four Corners Property Trust by 91.2% during the 4th quarter. SG Americas Securities LLC now owns 9,872 shares of the financial services provider’s stock worth $268,000 after acquiring an additional 4,708 shares during the period. Ballentine Partners LLC bought a new stake in shares of Four Corners Property Trust during the 4th quarter worth approximately $277,000. Eagle Bay Advisors LLC boosted its position in shares of Four Corners Property Trust by 25.0% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,125 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 425 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Four Corners Property Trust by 24.3% in the fourth quarter. GAMMA Investing LLC now owns 5,226 shares of the financial services provider’s stock valued at $142,000 after acquiring an additional 1,021 shares during the last quarter. Institutional investors own 98.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on FCPT. UBS Group assumed coverage on Four Corners Property Trust in a report on Thursday, November 14th. They issued a “buy” rating and a $33.00 target price on the stock. Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 target price (up previously from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. Barclays assumed coverage on shares of Four Corners Property Trust in a report on Tuesday, December 17th. They issued an “equal weight” rating and a $31.00 target price for the company. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.60.

Four Corners Property Trust Stock Performance

Shares of FCPT stock opened at $27.64 on Monday. The business’s 50-day moving average price is $28.05 and its 200-day moving average price is $28.14. 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 current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 25.84 and a beta of 1.13.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). The business had revenue of $66.79 million for the quarter, compared to the consensus estimate of $63.50 million. Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 earnings per share. Equities research analysts forecast that Four Corners Property Trust, Inc. will post 1.62 EPS for the current year.

Four Corners Property Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.355 per share. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.35. This represents a $1.42 annualized dividend and a yield of 5.14%. The ex-dividend date was Tuesday, December 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 132.71%.

About Four Corners Property Trust

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.