Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Acquired by Meritage Portfolio Management

Meritage Portfolio Management grew its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 12.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 17,243 shares of the financial services provider’s stock after buying an additional 1,870 shares during the period. Meritage Portfolio Management’s holdings in Four Corners Property Trust were worth $468,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Truvestments Capital LLC purchased a new stake in shares of Four Corners Property Trust in the 3rd quarter valued at $51,000. Eagle Bay Advisors LLC raised its holdings in shares of Four Corners Property Trust by 25.0% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,125 shares of the financial services provider’s stock valued at $58,000 after buying an additional 425 shares during the period. KBC Group NV raised its holdings in shares of Four Corners Property Trust by 50.4% in the 4th quarter. KBC Group NV now owns 3,702 shares of the financial services provider’s stock valued at $100,000 after buying an additional 1,240 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Four Corners Property Trust by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock valued at $106,000 after buying an additional 921 shares during the period. Finally, Vestcor Inc purchased a new stake in shares of Four Corners Property Trust in the 3rd quarter valued at $109,000. Institutional investors and hedge funds own 98.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on FCPT. Barclays cut 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. UBS Group began coverage on Four Corners Property Trust in a report on Thursday, November 14th. They set a “buy” rating and a $33.00 price target on the stock. Finally, JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Four Corners Property Trust has an average rating of “Moderate Buy” and an average price target of $30.40.

Four Corners Property Trust Trading Down 0.0 %

FCPT opened at $27.98 on Friday. Four Corners Property Trust, Inc. has a one year low of $22.38 and a one year high of $30.93. The company has a market cap of $2.71 billion, a P/E ratio of 26.15 and a beta of 1.14. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.17. The business’s 50-day simple moving average is $27.79 and its 200-day simple moving average is $28.20.

Four Corners Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.355 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.08%. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s dividend payout ratio is presently 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.