Northern Trust Corp Purchases 385,013 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Northern Trust Corp grew its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 40.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,330,086 shares of the financial services provider's stock after purchasing an additional 385,013 shares during the quarter. Northern Trust Corp owned approximately 1.38% of Four Corners Property Trust worth $36,099,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its position in Four Corners Property Trust by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 10,874,938 shares of the financial services provider's stock valued at $295,146,000 after acquiring an additional 240,230 shares during the last quarter. Invesco Ltd. increased its position in shares of Four Corners Property Trust by 2.9% during the fourth quarter. Invesco Ltd. now owns 3,072,755 shares of the financial services provider's stock worth $83,395,000 after acquiring an additional 85,476 shares during the period. Geode Capital Management LLC grew its holdings in Four Corners Property Trust by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 2,455,295 shares of the financial services provider's stock worth $66,651,000 after acquiring an additional 98,120 shares in the last quarter. Capital International Investors boosted its position in Four Corners Property Trust by 25.4% during the fourth quarter. Capital International Investors now owns 2,267,422 shares of the financial services provider's stock valued at $61,538,000 after purchasing an additional 459,542 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Four Corners Property Trust by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,822,422 shares of the financial services provider's stock valued at $49,463,000 after purchasing an additional 48,319 shares during the last quarter. Institutional investors own 98.66% of the company's stock.

Four Corners Property Trust Stock Performance

FCPT stock traded down $0.47 during midday trading on Tuesday, reaching $26.86. The company had a trading volume of 526,833 shares, compared to its average volume of 627,096. Four Corners Property Trust, Inc. has a fifty-two week low of $23.70 and a fifty-two week high of $30.93. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $2.70 billion, a PE ratio of 25.10 and a beta of 0.86. The stock has a 50 day moving average price of $27.88 and a 200 day moving average price of $27.98.

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

Four Corners Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.355 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.29%. Four Corners Property Trust's payout ratio is 132.71%.

Analysts Set New Price Targets

FCPT has been the subject of several analyst reports. UBS Group decreased their target price on shares of Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating for the company in a research note on Tuesday. JMP Securities reiterated a "market perform" rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. Barclays cut their target price 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 note on Tuesday, February 4th. Finally, Wells Fargo & Company raised their price target on 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.60.

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.