William Blair Investment Management LLC Has $37.98 Million Stock Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

William Blair Investment Management LLC grew its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,399,446 shares of the financial services provider’s stock after purchasing an additional 33,450 shares during the quarter. William Blair Investment Management LLC owned about 1.45% of Four Corners Property Trust worth $37,981,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in FCPT. FMR LLC lifted its stake in shares of Four Corners Property Trust by 30.6% in the 3rd quarter. FMR LLC now owns 13,930,746 shares of the financial services provider’s stock valued at $408,310,000 after purchasing an additional 3,268,064 shares during the period. Heitman Real Estate Securities LLC acquired a new position in shares of Four Corners Property Trust in the 3rd quarter valued at $24,863,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Four Corners Property Trust by 539.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 687,318 shares of the financial services provider’s stock valued at $20,145,000 after purchasing an additional 579,849 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Four Corners Property Trust in the 4th quarter valued at $12,845,000. Finally, Bank of Montreal Can lifted its stake in shares of Four Corners Property Trust by 1,867.7% in the 3rd quarter. Bank of Montreal Can now owns 228,987 shares of the financial services provider’s stock valued at $6,771,000 after purchasing an additional 217,350 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.

Analyst Upgrades and Downgrades

FCPT has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on Four Corners Property Trust from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, March 10th. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. Finally, Barclays dropped their price objective on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Four Corners Property Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.20.

Four Corners Property Trust Price Performance

FCPT stock opened at $28.23 on Tuesday. The stock has a 50-day moving average price of $27.87 and a two-hundred day moving average price of $28.40. The stock has a market cap of $2.82 billion, a PE ratio of 26.38 and a beta of 1.16. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.36. Four Corners Property Trust, Inc. has a 1 year low of $22.38 and a 1 year high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.16. Four Corners Property Trust had a return on equity of 7.54% and a net margin of 37.48%. Equities analysts forecast that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date is Monday, March 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 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.