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

Crestline Management LP acquired a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 58,507 shares of the financial services provider’s stock, valued at approximately $1,588,000.

Several other hedge funds also recently made changes to their positions in FCPT. Vanguard Group Inc. increased its stake in shares of 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 worth $295,146,000 after acquiring an additional 240,230 shares during the period. Invesco Ltd. increased its position in Four Corners Property Trust by 2.9% during the 4th quarter. Invesco Ltd. now owns 3,072,755 shares of the financial services provider’s stock worth $83,395,000 after purchasing an additional 85,476 shares during the period. Geode Capital Management LLC raised its stake 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 buying an additional 98,120 shares in the last quarter. Capital International Investors raised its stake in shares of Four Corners Property Trust by 25.4% during the 4th quarter. Capital International Investors now owns 2,267,422 shares of the financial services provider’s stock worth $61,538,000 after buying 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% in 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 buying an additional 48,319 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on FCPT shares. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. Wells Fargo & Company increased their price target on shares of 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 decreased 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 report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.20.

Four Corners Property Trust Trading Down 0.7 %

NYSE:FCPT opened at $27.58 on Friday. Four Corners Property Trust, Inc. has a 52-week low of $23.70 and a 52-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 stock has a fifty day simple moving average of $27.97 and a 200-day simple moving average of $28.02. The company has a market capitalization of $2.77 billion, a PE ratio of 25.77 and a beta of 0.86.

Four Corners Property Trust (NYSE:FCPT) last announced 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. The company had revenue of $71.48 million during 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 firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 earnings per share. On average, equities research analysts expect that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders 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 yield of 5.15%. The ex-dividend date of this dividend was Monday, March 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 132.71%.

Four Corners Property Trust 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.