Nomura Asset Management Co. Ltd. Purchases 2,870 Shares of Four Corners Property Trust, Inc. $FCPT

Nomura Asset Management Co. Ltd. raised its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 142,580 shares of the financial services provider’s stock after buying an additional 2,870 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.14% of Four Corners Property Trust worth $3,837,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Cerity Partners LLC lifted its holdings in Four Corners Property Trust by 11.2% during the first quarter. Cerity Partners LLC now owns 15,527 shares of the financial services provider’s stock worth $446,000 after acquiring an additional 1,567 shares during the period. New York State Common Retirement Fund raised its stake in shares of Four Corners Property Trust by 4.7% during the 1st quarter. New York State Common Retirement Fund now owns 41,943 shares of the financial services provider’s stock valued at $1,204,000 after purchasing an additional 1,900 shares during the period. CWM LLC lifted its holdings in Four Corners Property Trust by 15.0% during the 1st quarter. CWM LLC now owns 2,975 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 389 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of Four Corners Property Trust by 154.8% in the first quarter. Allianz Asset Management GmbH now owns 56,305 shares of the financial services provider’s stock valued at $1,616,000 after acquiring an additional 34,205 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in Four Corners Property Trust in the 1st quarter valued at $292,000. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FCPT shares. Barclays decreased their price target on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Monday, October 20th. Robert W. Baird set a $29.00 price objective on shares of Four Corners Property Trust in a research report on Wednesday, October 29th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $27.00 price target (down previously from $29.00) on shares of Four Corners Property Trust in a research note on Thursday, September 11th. UBS Group increased their price objective on Four Corners Property Trust from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Four Corners Property Trust in a report on Tuesday, October 14th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $28.80.

Insiders Place Their Bets

In related news, Director Douglas B. Hansen acquired 1,984 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were bought at an average price of $23.64 per share, with a total value of $46,901.76. Following the completion of the transaction, the director directly owned 78,247 shares in the company, valued at $1,849,759.08. This trade represents a 2.60% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Niccole Stewart sold 3,950 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $25.30, for a total value of $99,935.00. Following the sale, the chief accounting officer owned 27,502 shares of the company’s stock, valued at approximately $695,800.60. This represents a 12.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.20% of the company’s stock.

Four Corners Property Trust Price Performance

NYSE:FCPT opened at $24.00 on Friday. The business’s 50-day simple moving average is $24.29 and its two-hundred day simple moving average is $25.81. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.39. Four Corners Property Trust, Inc. has a 52 week low of $23.05 and a 52 week high of $30.12. The stock has a market cap of $2.55 billion, a PE ratio of 22.01 and a beta of 0.88.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. The business had revenue of $74.15 million during the quarter, compared to the consensus estimate of $71.86 million. Four Corners Property Trust had a net margin of 38.04% and a return on equity of 7.39%. The business’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 EPS. As a group, analysts forecast that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.3665 per share. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.36. This represents a $1.47 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Wednesday, December 31st. Four Corners Property Trust’s payout ratio is presently 130.28%.

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.