Geode Capital Management LLC Purchases 98,120 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Geode Capital Management LLC boosted its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,455,295 shares of the financial services provider's stock after acquiring an additional 98,120 shares during the period. Geode Capital Management LLC owned 2.54% of Four Corners Property Trust worth $66,651,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in FCPT. 1620 Investment Advisors Inc. grew its stake in shares of Four Corners Property Trust by 4.1% in the fourth quarter. 1620 Investment Advisors Inc. now owns 9,138 shares of the financial services provider's stock worth $248,000 after acquiring an additional 363 shares during the last quarter. Arizona State Retirement System lifted its position in shares of 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 worth $730,000 after acquiring an additional 406 shares during the period. Eagle Bay Advisors LLC boosted its stake in Four Corners Property Trust by 25.0% during the fourth quarter. Eagle Bay Advisors LLC now owns 2,125 shares of the financial services provider's stock worth $58,000 after buying an additional 425 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Four Corners Property Trust by 1.0% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 45,170 shares of the financial services provider's stock worth $1,226,000 after purchasing an additional 469 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Four Corners Property Trust by 10.4% during the fourth quarter. Signaturefd LLC now owns 6,141 shares of the financial services provider's stock worth $167,000 after purchasing an additional 579 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Monday, March 10th. JMP Securities reiterated a "market perform" rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. Finally, 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 research report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Four Corners Property Trust currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.20.

Four Corners Property Trust Stock Up 1.4 %

FCPT traded up $0.40 on Friday, hitting $28.19. 539,892 shares of the company were exchanged, compared to its average volume of 613,235. Four Corners Property Trust, Inc. has a 12 month low of $22.54 and a 12 month high of $30.93. The company has a market cap of $2.82 billion, a PE ratio of 26.34 and a beta of 0.93. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.11 and a current ratio of 0.11. The stock's fifty day moving average is $28.02 and its 200-day moving average is $28.13.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its quarterly 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%. Equities research analysts predict that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders 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 5.04%. The ex-dividend date of this dividend was Monday, March 31st. Four Corners Property Trust's dividend payout ratio (DPR) 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.