Rhumbline Advisers Decreases Position in Four Corners Property Trust, Inc. $FCPT

Rhumbline Advisers decreased its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 2.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 312,601 shares of the financial services provider’s stock after selling 6,966 shares during the quarter. Rhumbline Advisers owned approximately 0.31% of Four Corners Property Trust worth $8,972,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FCPT. Zimmer Partners LP purchased a new stake in Four Corners Property Trust during the fourth quarter worth approximately $38,512,000. Massachusetts Financial Services Co. MA purchased a new stake in Four Corners Property Trust in the first quarter valued at approximately $33,515,000. Nuveen LLC purchased a new stake in Four Corners Property Trust in the first quarter valued at approximately $18,291,000. Cbre Investment Management Listed Real Assets LLC lifted its stake in Four Corners Property Trust by 63.1% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,342,834 shares of the financial services provider’s stock valued at $38,539,000 after buying an additional 519,633 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in Four Corners Property Trust in the first quarter valued at approximately $14,350,000. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Trading Down 1.3%

Shares of FCPT stock opened at $25.68 on Thursday. The business’s fifty day moving average price is $26.04 and its 200 day moving average price is $27.16. Four Corners Property Trust, Inc. has a 1-year low of $25.00 and a 1-year high of $30.93. The firm has a market capitalization of $2.68 billion, a PE ratio of 23.78 and a beta of 0.86. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.12 and a quick ratio of 0.12.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. Four Corners Property Trust had a return on equity of 7.40% and a net margin of 37.87%.The firm had revenue of $72.84 million for the quarter, compared to analyst estimates of $70.27 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. Four Corners Property Trust’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, sell-side analysts forecast that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Analysts Set New Price Targets

FCPT has been the subject of a number of research reports. Wells Fargo & Company reduced their price objective on Four Corners Property Trust from $30.00 to $29.00 and set an “overweight” rating for the company in a research note on Wednesday, August 27th. Barclays reduced their price objective on Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 20th. Raymond James Financial dropped their target price on Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday, July 31st. Finally, UBS Group boosted their target price on Four Corners Property Trust from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, August 15th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Four Corners Property Trust has an average rating of “Moderate Buy” and an average price target of $29.50.

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.