Pinebridge Investments L.P. grew its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 1.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,908 shares of the financial services provider’s stock after buying an additional 97 shares during the quarter. Pinebridge Investments L.P.’s holdings in Four Corners Property Trust were worth $198,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Four Corners Property Trust by 13,867.2% in the 1st quarter. BlackRock Inc. now owns 8,766,236 shares of the financial services provider’s stock valued at $200,133,000 after purchasing an additional 8,703,473 shares in the last quarter. FMR LLC increased its stake in shares of Four Corners Property Trust by 832.7% in the 1st quarter. FMR LLC now owns 860,141 shares of the financial services provider’s stock valued at $19,637,000 after purchasing an additional 767,921 shares in the last quarter. Citadel Advisors LLC increased its stake in shares of Four Corners Property Trust by 471.1% in the 1st quarter. Citadel Advisors LLC now owns 516,681 shares of the financial services provider’s stock valued at $11,796,000 after purchasing an additional 426,213 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Four Corners Property Trust by 71.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 711,233 shares of the financial services provider’s stock valued at $16,237,000 after purchasing an additional 295,835 shares in the last quarter. Finally, Driehaus Capital Management LLC purchased a new position in shares of Four Corners Property Trust in the 1st quarter valued at about $5,486,000. 87.80% of the stock is owned by institutional investors and hedge funds.

Shares of Four Corners Property Trust, Inc. (FCPT) opened at 25.53 on Friday. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 18.84 and a beta of 0.13. The firm’s 50-day moving average price is $25.22 and its 200 day moving average price is $24.40. Four Corners Property Trust, Inc. has a 1-year low of $16.71 and a 1-year high of $25.94.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.01). Four Corners Property Trust had a net margin of 63.74% and a return on equity of 17.21%. The company had revenue of $33.20 million for the quarter, compared to analyst estimates of $33.33 million. During the same quarter in the previous year, the business posted $0.33 earnings per share. Four Corners Property Trust’s revenue was up 7.5% on a year-over-year basis. Equities research analysts expect that Four Corners Property Trust, Inc. will post $1.03 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a dividend of $0.243 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.81%. Four Corners Property Trust’s payout ratio is 71.85%.

FCPT has been the subject of several recent analyst reports. Zacks Investment Research upgraded Four Corners Property Trust from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Wednesday, July 12th. Canaccord Genuity initiated coverage on Four Corners Property Trust in a research note on Tuesday, July 18th. They issued a “hold” rating and a $26.00 price target for the company. BidaskClub lowered Four Corners Property Trust from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Four Corners Property Trust in a research note on Thursday, August 3rd. Finally, UBS AG upgraded Four Corners Property Trust from a “market perform” rating to an “outperform” rating in a research note on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $27.00.

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Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc is a self-administered company and real estate investment trust (REIT), which owns, acquires and leases properties for use in the restaurant and food service related industries. The Company operates through two segments: real estate operations and restaurant operations.

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Institutional Ownership by Quarter for Four Corners Property Trust (NYSE:FCPT)

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