Sumitomo Mitsui Trust Holdings Inc. Has $2.71 Million Stock Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 106,975 shares of the financial services provider’s stock after purchasing an additional 6,271 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.12% of Four Corners Property Trust worth $2,706,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Four Corners Property Trust by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 10,224,604 shares of the financial services provider’s stock valued at $226,884,000 after buying an additional 102,504 shares during the last quarter. Northern Trust Corp grew its stake in Four Corners Property Trust by 4.5% in the 3rd quarter. Northern Trust Corp now owns 1,163,576 shares of the financial services provider’s stock valued at $25,820,000 after buying an additional 50,303 shares during the last quarter. FMR LLC grew its stake in Four Corners Property Trust by 12.1% in the 3rd quarter. FMR LLC now owns 9,831,411 shares of the financial services provider’s stock valued at $218,159,000 after buying an additional 1,061,170 shares during the last quarter. Deutsche Bank AG grew its stake in Four Corners Property Trust by 34.9% in the 3rd quarter. Deutsche Bank AG now owns 507,017 shares of the financial services provider’s stock valued at $11,251,000 after buying an additional 131,262 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Four Corners Property Trust by 3.3% in the 3rd quarter. Invesco Ltd. now owns 2,253,418 shares of the financial services provider’s stock valued at $50,003,000 after buying an additional 72,055 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Four Corners Property Trust from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. Raymond James decreased their price target on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, January 8th.

Four Corners Property Trust Stock Performance

NYSE FCPT opened at $23.61 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.12 and a quick ratio of 0.12. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 21.86 and a beta of 1.00. The company’s fifty day moving average is $23.85 and its two-hundred day moving average is $23.58. Four Corners Property Trust, Inc. has a 52-week low of $20.51 and a 52-week high of $27.60.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Thursday, February 15th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.13). The company had revenue of $65.14 million during the quarter, compared to analyst estimates of $65.23 million. Four Corners Property Trust had a return on equity of 7.78% and a net margin of 38.04%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. Equities research analysts forecast that Four Corners Property Trust, Inc. will post 1.64 EPS for the current year.

Four Corners Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 5.85%. The ex-dividend date of this dividend was Wednesday, March 27th. Four Corners Property Trust’s payout ratio is 127.78%.

About Four Corners Property Trust

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.