Wells Fargo & Company MN raised its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 16.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 184,931 shares of the financial services provider’s stock after buying an additional 25,800 shares during the period. Wells Fargo & Company MN owned about 0.30% of Four Corners Property Trust worth $4,608,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FCPT. Schwab Charles Investment Management Inc. lifted its position in Four Corners Property Trust by 4.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 264,026 shares of the financial services provider’s stock valued at $6,630,000 after buying an additional 11,454 shares in the last quarter. SG Americas Securities LLC acquired a new position in Four Corners Property Trust during the second quarter valued at approximately $106,000. Comerica Bank lifted its position in Four Corners Property Trust by 11.1% during the second quarter. Comerica Bank now owns 63,816 shares of the financial services provider’s stock valued at $1,607,000 after buying an additional 6,357 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in Four Corners Property Trust by 13.6% during the second quarter. BNP Paribas Arbitrage SA now owns 36,992 shares of the financial services provider’s stock valued at $929,000 after buying an additional 4,428 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its position in Four Corners Property Trust by 3.5% during the second quarter. State Board of Administration of Florida Retirement System now owns 43,642 shares of the financial services provider’s stock valued at $1,096,000 after buying an additional 1,492 shares in the last quarter. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) opened at $25.26 on Friday. The stock has a market cap of $1,540.00 and a P/E ratio of 17.91. Four Corners Property Trust, Inc. has a 12 month low of $20.23 and a 12 month high of $26.96.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.35%. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.24. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 78.01%.

A number of brokerages have weighed in on FCPT. BidaskClub cut shares of Four Corners Property Trust from a “hold” rating to a “sell” rating in a research report on Thursday, September 28th. Ladenburg Thalmann Financial Services reiterated a “buy” rating and set a $28.00 price objective (up previously from $27.00) on shares of Four Corners Property Trust in a research note on Friday, September 22nd. Finally, Zacks Investment Research lowered shares of Four Corners Property Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, November 22nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $27.25.

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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.

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

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