Beacon Pointe Advisors LLC Takes Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Beacon Pointe Advisors LLC acquired a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 11,941 shares of the financial services provider's stock, valued at approximately $324,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. boosted its position in shares of Four Corners Property Trust by 4.1% during the 4th quarter. 1620 Investment Advisors Inc. now owns 9,138 shares of the financial services provider's stock valued at $248,000 after acquiring an additional 363 shares during the last quarter. Arizona State Retirement System boosted its holdings in Four Corners Property Trust by 1.5% in the 4th quarter. Arizona State Retirement System now owns 26,893 shares of the financial services provider's stock valued at $730,000 after purchasing an additional 406 shares during the last quarter. Eagle Bay Advisors LLC grew its stake 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. Mariner LLC increased its holdings in shares of Four Corners Property Trust by 2.8% during the 4th quarter. Mariner LLC now owns 17,098 shares of the financial services provider's stock worth $464,000 after buying an additional 467 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Four Corners Property Trust by 1.0% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 45,170 shares of the financial services provider's stock valued at $1,226,000 after buying an additional 469 shares during the period. Institutional investors and hedge funds own 98.66% of the company's stock.

Analyst Upgrades and Downgrades

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

Four Corners Property Trust Price Performance

FCPT stock opened at $27.91 on Monday. The business's fifty day moving average price is $28.05 and its 200 day moving average price is $28.05. Four Corners Property Trust, Inc. has a 12-month low of $23.70 and a 12-month high of $30.93. The company has a market capitalization of $2.79 billion, a PE ratio of 26.08 and a beta of 0.86. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 37.48% and a return on equity of 7.54%. The business's quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 earnings per share. On average, sell-side analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.355 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.42 annualized dividend and a yield of 5.09%. Four Corners Property Trust's dividend payout ratio is presently 132.71%.

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.

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