Zurcher Kantonalbank Zurich Cantonalbank Raises Stake in Four Corners Property Trust, Inc. (NYSE:FCPT)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 4.9% during the third quarter, Holdings Channel.com reports. The firm owned 78,030 shares of the financial services provider’s stock after acquiring an additional 3,627 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Four Corners Property Trust were worth $2,287,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in shares of Four Corners Property Trust by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,801 shares of the financial services provider’s stock worth $1,513,000 after purchasing an additional 3,268 shares in the last quarter. Blue Trust Inc. boosted its holdings in Four Corners Property Trust by 1,469.1% in the second quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 3,467 shares in the last quarter. Boston Trust Walden Corp grew its stake in shares of Four Corners Property Trust by 18.7% in the second quarter. Boston Trust Walden Corp now owns 1,216,760 shares of the financial services provider’s stock worth $30,017,000 after acquiring an additional 191,259 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Four Corners Property Trust by 3.1% during the second quarter. Louisiana State Employees Retirement System now owns 46,300 shares of the financial services provider’s stock valued at $1,142,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Four Corners Property Trust by 2.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 986,291 shares of the financial services provider’s stock worth $24,332,000 after purchasing an additional 22,792 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Analyst Upgrades and Downgrades

FCPT has been the subject of a number of analyst reports. Wells Fargo & Company restated an “overweight” rating and set a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. UBS Group started coverage on Four Corners Property Trust in a research report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price objective on the stock. Evercore ISI increased their target price on Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Finally, Raymond James boosted their price target on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Four Corners Property Trust has a consensus rating of “Moderate Buy” and an average price target of $30.50.

Four Corners Property Trust Stock Down 0.4 %

Shares of Four Corners Property Trust stock opened at $28.83 on Wednesday. Four Corners Property Trust, Inc. has a twelve month low of $22.38 and a twelve month high of $30.93. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38. The company’s 50 day moving average is $28.75 and its 200 day moving average is $27.27. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 26.94 and a beta of 1.12.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.14). The firm had revenue of $66.79 million for the quarter, compared to the consensus estimate of $63.50 million. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. Four Corners Property Trust’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 earnings per share. Research analysts anticipate that Four Corners Property Trust, Inc. will post 1.66 EPS for the current year.

Four Corners Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 4.93%. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. The ex-dividend date is Tuesday, December 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 128.97%.

About Four Corners Property Trust

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.