Renaissance Group LLC Sells 406 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Renaissance Group LLC trimmed its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 4.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,528 shares of the financial services provider’s stock after selling 406 shares during the quarter. Renaissance Group LLC’s holdings in Four Corners Property Trust were worth $231,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FCPT. EverSource Wealth Advisors LLC grew its position in shares of Four Corners Property Trust by 234.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 817 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Four Corners Property Trust by 165.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,379 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 860 shares in the last quarter. VSM Wealth Advisory LLC bought a new position in Four Corners Property Trust during the 4th quarter worth approximately $39,000. Synergy Investment Management LLC acquired a new position in shares of Four Corners Property Trust in the fourth quarter valued at $48,000. Finally, Eagle Bay Advisors LLC lifted its holdings in shares of Four Corners Property Trust by 25.0% in the fourth quarter. Eagle Bay Advisors LLC now owns 2,125 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on FCPT shares. Wells Fargo & Company raised their price objective on Four Corners Property Trust from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, March 10th. Barclays dropped their target price on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Four Corners Property Trust presently has an average rating of “Moderate Buy” and a consensus price target of $30.20.

Four Corners Property Trust Trading Up 3.3 %

FCPT opened at $26.92 on Thursday. The stock has a fifty day moving average price of $28.07 and a 200-day moving average price of $28.20. Four Corners Property Trust, Inc. has a 12 month low of $22.38 and a 12 month high of $30.93. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 25.16 and a beta of 0.93. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.36.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results 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, equities research analysts anticipate 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date is Monday, March 31st. Four Corners Property Trust’s dividend payout ratio is presently 132.71%.

Four Corners Property Trust Company 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.