Resona Asset Management Co. Ltd. Invests $1.05 Million in Four Corners Property Trust, Inc. (NYSE:FCPT)

Resona Asset Management Co. Ltd. bought a new stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 38,344 shares of the financial services provider's stock, valued at approximately $1,051,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FCPT. Wells Fargo & Company MN grew its position in shares of Four Corners Property Trust by 0.9% during the 4th quarter. Wells Fargo & Company MN now owns 543,746 shares of the financial services provider's stock valued at $14,757,000 after acquiring an additional 4,832 shares during the period. Centersquare Investment Management LLC increased its holdings in shares of Four Corners Property Trust by 5.5% in the fourth quarter. Centersquare Investment Management LLC now owns 21,666 shares of the financial services provider's stock worth $588,000 after purchasing an additional 1,120 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of 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. Franklin Resources Inc. raised its stake in Four Corners Property Trust by 32.1% during the fourth quarter. Franklin Resources Inc. now owns 37,574 shares of the financial services provider's stock valued at $1,020,000 after purchasing an additional 9,120 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new stake in shares of Four Corners Property Trust during the 4th quarter valued at about $299,000. Institutional investors own 98.66% of the company's stock.

Four Corners Property Trust Stock Up 0.8 %

FCPT traded up $0.23 during trading on Wednesday, hitting $27.97. The stock had a trading volume of 43,800 shares, compared to its average volume of 788,852. The stock has a 50 day simple moving average of $28.02 and a two-hundred day simple moving average of $28.14. Four Corners Property Trust, Inc. has a twelve month low of $22.38 and a twelve month high of $30.93. The company has a market capitalization of $2.80 billion, a PE ratio of 26.14 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.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.16. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. On average, research analysts predict that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.08%. 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 Analyst Weigh In

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

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.