Exchange Traded Concepts LLC Has $2.29 Million Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Exchange Traded Concepts LLC lessened its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 84,486 shares of the financial services provider’s stock after selling 5,927 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.09% of Four Corners Property Trust worth $2,293,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. FMR LLC increased its position in shares of Four Corners Property Trust by 30.6% in the third quarter. FMR LLC now owns 13,930,746 shares of the financial services provider’s stock valued at $408,310,000 after acquiring an additional 3,268,064 shares during the last quarter. Heitman Real Estate Securities LLC bought a new position in Four Corners Property Trust in the third quarter valued at approximately $24,863,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Four Corners Property Trust by 539.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 687,318 shares of the financial services provider’s stock worth $20,145,000 after purchasing an additional 579,849 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Four Corners Property Trust by 1,867.7% during the 3rd quarter. Bank of Montreal Can now owns 228,987 shares of the financial services provider’s stock worth $6,771,000 after purchasing an additional 217,350 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of Four Corners Property Trust by 212.5% during the 3rd quarter. Jane Street Group LLC now owns 255,275 shares of the financial services provider’s stock worth $7,482,000 after purchasing an additional 173,598 shares in the last quarter. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Price Performance

NYSE:FCPT opened at $27.64 on Monday. The company has a market cap of $2.67 billion, a P/E ratio of 25.84 and a beta of 1.13. The firm’s fifty day moving average price is $28.05 and its two-hundred day moving average price is $28.14. 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 debt-to-equity ratio of 0.38, a current ratio of 0.17 and a quick ratio of 0.17.

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 company had revenue of $66.79 million during 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%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 earnings per share. Equities analysts expect that Four Corners Property Trust, Inc. will post 1.62 earnings per share for the current year.

Four Corners Property Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.355 per share. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. This represents a $1.42 annualized dividend and a yield of 5.14%. The ex-dividend date of this dividend was Tuesday, December 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 132.71%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on FCPT shares. Barclays began coverage on shares of Four Corners Property Trust in a research note on Tuesday, December 17th. They issued an “equal weight” rating and a $31.00 target price for the company. UBS Group started coverage on shares of Four Corners Property Trust in a research note on Thursday, November 14th. They set a “buy” rating and a $33.00 price objective on the stock. Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 target price (up from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. Finally, JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Four Corners Property Trust has a consensus rating of “Moderate Buy” and a consensus target price of $30.60.

About Four Corners Property Trust

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.