Crestline Management LP Acquires New Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Crestline Management LP acquired a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 58,507 shares of the financial services provider's stock, valued at approximately $1,588,000. Crestline Management LP owned 0.06% of Four Corners Property Trust at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in shares of Four Corners Property Trust by 234.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the financial services provider's stock worth $32,000 after acquiring an additional 817 shares during the period. Smartleaf Asset Management LLC increased its holdings in 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 during the period. VSM Wealth Advisory LLC acquired a new stake in Four Corners Property Trust in the 4th quarter valued at about $39,000. Synergy Investment Management LLC purchased a new position in shares of Four Corners Property Trust in the 4th quarter valued at about $48,000. Finally, Quarry LP purchased a new position in shares of Four Corners Property Trust in the 4th quarter valued at about $49,000. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Four Corners Property Trust Stock Up 0.6%

FCPT stock traded up $0.17 during trading on Friday, hitting $27.75. 469,126 shares of the company's stock were exchanged, compared to its average volume of 626,724. The business has a 50-day moving average price of $27.95 and a two-hundred day moving average price of $28.00. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 25.93 and a beta of 0.86. Four Corners Property Trust, Inc. has a 52-week low of $23.70 and a 52-week high of $30.93.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. The business had revenue of $71.48 million for the quarter, compared to analysts' expectations of $67.17 million. Four Corners Property Trust had a return on equity of 7.54% and a net margin of 37.48%. The business's revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 earnings per share. As a group, equities research analysts expect that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date of this dividend was Monday, March 31st. Four Corners Property Trust's dividend payout ratio is currently 132.71%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the stock an "overweight" rating in a research note on Monday, March 10th. Barclays dropped their price objective on shares of Four Corners Property Trust from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $30.20.

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.