ZWJ Investment Counsel Inc. Takes $208,000 Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

ZWJ Investment Counsel Inc. purchased a new stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,094 shares of the financial services provider’s stock, valued at approximately $208,000.

A number of other hedge funds have also recently made changes to their positions in the company. Earnest Partners LLC raised its position in shares of Four Corners Property Trust by 31.3% during the second quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider’s stock worth $78,667,000 after acquiring an additional 759,749 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Four Corners Property Trust by 26.7% during the first quarter. William Blair Investment Management LLC now owns 1,410,376 shares of the financial services provider’s stock worth $34,512,000 after acquiring an additional 297,300 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Four Corners Property Trust by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 10,518,844 shares of the financial services provider’s stock worth $266,127,000 after acquiring an additional 294,240 shares during the last quarter. Boston Trust Walden Corp raised its position in shares of Four Corners Property Trust by 18.7% during the second quarter. Boston Trust Walden Corp now owns 1,216,760 shares of the financial services provider’s stock worth $30,017,000 after acquiring an additional 191,259 shares during the last quarter. Finally, Westwood Holdings Group Inc. raised its position in shares of Four Corners Property Trust by 3.7% during the first quarter. Westwood Holdings Group Inc. now owns 2,619,070 shares of the financial services provider’s stock worth $64,089,000 after acquiring an additional 93,552 shares during the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Evercore ISI raised their price objective on 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 lifted their target price on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 target price (up from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.67.

Four Corners Property Trust Trading Down 0.8 %

Shares of FCPT stock opened at $29.45 on Friday. The company has a market cap of $2.71 billion, a P/E ratio of 27.52 and a beta of 1.10. Four Corners Property Trust, Inc. has a fifty-two week low of $20.51 and a fifty-two week high of $30.93. The stock has a 50 day simple moving average of $28.69 and a two-hundred day simple moving average of $26.13. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.13 and a current ratio of 0.13.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.14). The firm had revenue of $66.48 million for the quarter, compared to the consensus estimate of $63.70 million. Four Corners Property Trust had a net margin of 37.01% and a return on equity of 7.72%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. Research analysts forecast that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.345 per share. The ex-dividend date was Monday, September 30th. This represents a $1.38 annualized dividend and a dividend yield of 4.69%. Four Corners Property Trust’s dividend payout ratio is 128.97%.

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.