Zurcher Kantonalbank Zurich Cantonalbank Buys 22,678 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 29.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 100,708 shares of the financial services provider’s stock after purchasing an additional 22,678 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Four Corners Property Trust were worth $2,733,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of FCPT. Thrivent Financial for Lutherans raised its holdings in Four Corners Property Trust by 6.1% during the third quarter. Thrivent Financial for Lutherans now owns 349,221 shares of the financial services provider’s stock valued at $10,236,000 after acquiring an additional 20,028 shares during the period. SG Americas Securities LLC raised its holdings in Four Corners Property Trust by 91.2% during the fourth quarter. SG Americas Securities LLC now owns 9,872 shares of the financial services provider’s stock valued at $268,000 after acquiring an additional 4,708 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Four Corners Property Trust by 211.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 159,630 shares of the financial services provider’s stock valued at $4,679,000 after acquiring an additional 108,345 shares during the period. Geode Capital Management LLC raised its holdings in Four Corners Property Trust by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,357,175 shares of the financial services provider’s stock valued at $69,101,000 after acquiring an additional 27,552 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Four Corners Property Trust by 1.3% during the fourth quarter. Bank of New York Mellon Corp now owns 891,425 shares of the financial services provider’s stock valued at $24,193,000 after acquiring an additional 11,131 shares during the period. 98.66% of the stock is owned by institutional investors.

Four Corners Property Trust Trading Up 1.6 %

Shares of Four Corners Property Trust stock opened at $27.95 on Friday. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 26.12 and a beta of 1.16. The business has a 50-day moving average price of $27.85 and a 200-day moving average price of $28.40. 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 twelve month low of $22.38 and a twelve month high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate 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 anticipate that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.355 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.42 annualized dividend and a yield of 5.08%. Four Corners Property Trust’s dividend payout ratio is currently 132.71%.

Analysts Set New Price Targets

A number of equities research analysts have commented on FCPT shares. Wells Fargo & Company raised their price target on Four Corners Property Trust from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, March 10th. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Finally, Barclays decreased their price target on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.