Nomura Asset Management Co. Ltd. Acquires 13,020 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Nomura Asset Management Co. Ltd. raised its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 11.2% in the 4th quarter, HoldingsChannel reports. The firm owned 129,500 shares of the financial services provider’s stock after purchasing an additional 13,020 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Four Corners Property Trust were worth $3,515,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of FCPT. New Age Alpha Advisors LLC acquired a new position in Four Corners Property Trust during the 4th quarter worth about $3,720,000. Norges Bank acquired a new position in shares of Four Corners Property Trust during the fourth quarter worth approximately $7,254,000. JPMorgan Chase & Co. lifted its position in shares of Four Corners Property Trust by 6.3% during the fourth quarter. JPMorgan Chase & Co. now owns 417,304 shares of the financial services provider’s stock worth $11,326,000 after purchasing an additional 24,856 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Four Corners Property Trust by 7.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 63,406 shares of the financial services provider’s stock valued at $1,722,000 after purchasing an additional 4,437 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Four Corners Property Trust by 1.1% in the fourth quarter. Prudential Financial Inc. now owns 97,975 shares of the financial services provider’s stock valued at $2,765,000 after purchasing an additional 1,022 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Stock Down 0.1 %

NYSE:FCPT opened at $28.69 on Wednesday. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.36. Four Corners Property Trust, Inc. has a 12-month low of $22.38 and a 12-month high of $30.93. The stock’s fifty day simple moving average is $28.15 and its 200-day simple moving average is $28.35. The firm has a market capitalization of $2.87 billion, a P/E ratio of 26.81 and a beta of 1.16.

Four Corners Property Trust (NYSE:FCPT) last issued 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 research analysts expect that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 4.95%. The ex-dividend date is Monday, March 31st. Four Corners Property Trust’s dividend payout ratio is currently 132.71%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wells Fargo & Company increased their price objective on Four Corners Property Trust from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, March 10th. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Finally, Barclays cut their target price on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Four Corners Property Trust presently has a consensus rating of “Moderate Buy” and an average target price of $30.20.

Four Corners Property Trust Profile

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.