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

Northern Trust Corp boosted its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 40.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,330,086 shares of the financial services provider’s stock after purchasing an additional 385,013 shares during the period. Northern Trust Corp owned 1.38% of Four Corners Property Trust worth $36,099,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Four Corners Property Trust by 2.3% during the 4th 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. raised its position in shares of Four Corners Property Trust by 2.9% in the fourth quarter. Invesco Ltd. now owns 3,072,755 shares of the financial services provider’s stock valued at $83,395,000 after purchasing an additional 85,476 shares during the period. Geode Capital Management LLC lifted 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 during the last quarter. Capital International Investors boosted its holdings 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 during the period. Finally, Principal Financial Group Inc. raised its holdings in 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 acquiring an additional 48,319 shares during the period. 98.66% of the stock is currently owned by institutional investors.

Four Corners Property Trust Stock Performance

Shares of NYSE:FCPT opened at $27.75 on Friday. The company’s 50 day simple moving average is $27.95 and its 200 day simple moving average is $28.01. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.11 and a quick ratio of 0.11. Four Corners Property Trust, Inc. has a 1 year low of $23.70 and a 1 year high of $30.93. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 25.93 and a beta of 0.86.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. The business had revenue of $71.48 million for the quarter, compared to analyst estimates of $67.17 million. Four Corners Property Trust had a return on equity of 7.54% and a net margin of 37.48%. Four Corners Property Trust’s revenue was up 7.5% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. As a group, research analysts predict that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The business 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. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.42 annualized dividend and a dividend yield of 5.12%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 132.71%.

Analyst Upgrades and Downgrades

FCPT has been the subject of several recent research reports. Barclays reduced their price target 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 target on shares of 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 reissued 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.