Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Purchased by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lifted its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 4.6% during the 4th quarter, HoldingsChannel reports. The fund owned 203,635 shares of the financial services provider’s stock after purchasing an additional 9,026 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Four Corners Property Trust were worth $5,527,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FCPT. Stifel Financial Corp grew its stake in Four Corners Property Trust by 15.7% during the 3rd quarter. Stifel Financial Corp now owns 23,370 shares of the financial services provider’s stock valued at $685,000 after acquiring an additional 3,175 shares in the last quarter. MML Investors Services LLC raised its position in Four Corners Property Trust by 5.6% in the third quarter. MML Investors Services LLC now owns 11,881 shares of the financial services provider’s stock valued at $348,000 after purchasing an additional 635 shares during the period. Barclays PLC lifted its holdings in shares of Four Corners Property Trust by 109.5% in the 3rd quarter. Barclays PLC now owns 156,021 shares of the financial services provider’s stock worth $4,572,000 after acquiring an additional 81,565 shares during the last quarter. Principal Financial Group Inc. raised its position in Four Corners Property Trust by 6.1% in the third quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider’s stock valued at $51,996,000 after purchasing an additional 102,662 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Four Corners Property Trust by 13.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 392,448 shares of the financial services provider’s stock valued at $11,503,000 after acquiring an additional 46,732 shares during the period. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FCPT. Wells Fargo & Company upped their price objective on Four Corners Property Trust from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, March 10th. Barclays cut their target price on 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. Finally, JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Four Corners Property Trust presently has an average rating of “Moderate Buy” and a consensus price target of $30.20.

Four Corners Property Trust Stock Performance

NYSE FCPT opened at $28.38 on Thursday. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 26.52 and a beta of 0.93. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average of $28.06 and a 200-day moving average of $28.11. Four Corners Property Trust, Inc. has a fifty-two week low of $23.25 and a fifty-two week high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.44 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%. As a group, analysts predict that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date was Monday, March 31st. Four Corners Property Trust’s payout ratio is 132.71%.

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.