Truvestments Capital LLC Buys Shares of 1,749 Four Corners Property Trust, Inc. (NYSE:FCPT)

Truvestments Capital LLC bought a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT) in the third quarter, HoldingsChannel reports. The institutional investor bought 1,749 shares of the financial services provider’s stock, valued at approximately $51,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Verdence Capital Advisors LLC lifted its holdings in Four Corners Property Trust by 4.5% in the third quarter. Verdence Capital Advisors LLC now owns 12,298 shares of the financial services provider’s stock valued at $360,000 after acquiring an additional 527 shares during the period. GAMMA Investing LLC increased its position in shares of Four Corners Property Trust by 24.0% in the third quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock valued at $123,000 after buying an additional 814 shares in the last quarter. Arizona State Retirement System increased its position in shares of Four Corners Property Trust by 3.5% in the second quarter. Arizona State Retirement System now owns 25,753 shares of the financial services provider’s stock valued at $635,000 after buying an additional 863 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Four Corners Property Trust by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock valued at $106,000 after buying an additional 921 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Four Corners Property Trust by 8.2% in the second quarter. Van ECK Associates Corp now owns 14,037 shares of the financial services provider’s stock valued at $346,000 after buying an additional 1,059 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Trading Up 0.4 %

Four Corners Property Trust stock opened at $29.54 on Thursday. The stock has a market cap of $2.86 billion, a PE ratio of 27.61 and a beta of 1.11. The stock has a 50-day moving average price of $28.81 and a 200 day moving average price of $27.12. Four Corners Property Trust, Inc. has a 52 week low of $22.38 and a 52 week 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.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly 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 business had revenue of $66.79 million during 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 firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 EPS. Equities research analysts predict that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current fiscal year.

Four Corners Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.355 dividend. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.42 annualized dividend and a yield of 4.81%. Four Corners Property Trust’s payout ratio is 132.71%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FCPT. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Evercore ISI raised their price target on Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Wells Fargo & Company restated an “overweight” rating and issued a $32.00 price target (up previously from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. UBS Group began coverage on Four Corners Property Trust in a research report on Thursday, November 14th. They set a “buy” rating and a $33.00 price objective for the company. Finally, Raymond James lifted their price objective 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. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.50.

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.