BlackRock Inc. raised its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 1.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,850,671 shares of the financial services provider’s stock after buying an additional 84,435 shares during the quarter. BlackRock Inc. owned about 14.46% of Four Corners Property Trust worth $222,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in FCPT. TIAA CREF Investment Management LLC grew its holdings in shares of Four Corners Property Trust by 0.9% in the second quarter. TIAA CREF Investment Management LLC now owns 589,847 shares of the financial services provider’s stock valued at $14,811,000 after purchasing an additional 5,118 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of Four Corners Property Trust by 0.3% in the second quarter. Teachers Advisors LLC now owns 1,222,191 shares of the financial services provider’s stock valued at $30,689,000 after purchasing an additional 3,332 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Four Corners Property Trust by 0.7% in the second quarter. Alliancebernstein L.P. now owns 117,106 shares of the financial services provider’s stock valued at $2,941,000 after purchasing an additional 788 shares in the last quarter. Old Mutual Global Investors UK Ltd. grew its holdings in shares of Four Corners Property Trust by 3,225.9% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 181,030 shares of the financial services provider’s stock valued at $4,545,000 after purchasing an additional 175,587 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of Four Corners Property Trust by 6.8% in the second quarter. Swiss National Bank now owns 99,907 shares of the financial services provider’s stock valued at $2,509,000 after purchasing an additional 6,400 shares in the last quarter. 87.80% of the stock is owned by institutional investors and hedge funds.

Four Corners Property Trust, Inc. (NYSE:FCPT) opened at 25.39 on Friday. The firm’s 50-day moving average is $25.23 and its 200 day moving average is $24.42. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 18.74 and a beta of 0.13. Four Corners Property Trust, Inc. has a 1-year low of $16.71 and a 1-year high of $25.94.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.01). The company had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $33.33 million. Four Corners Property Trust had a net margin of 63.74% and a return on equity of 17.21%. 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 company earned $0.33 earnings per share. Equities analysts anticipate that Four Corners Property Trust, Inc. will post $1.03 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a $0.243 dividend. This represents a $0.97 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Thursday, September 28th. Four Corners Property Trust’s payout ratio is currently 71.85%.

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A number of research analysts recently weighed in on FCPT shares. Zacks Investment Research lowered shares of Four Corners Property Trust from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Four Corners Property Trust in a report on Thursday, August 3rd. BidaskClub lowered shares of Four Corners Property Trust from a “hold” rating to a “sell” rating in a report on Thursday, September 28th. Raymond James Financial, Inc. raised shares of Four Corners Property Trust from a “market perform” rating to a “buy” rating and set a $26.00 target price for the company in a report on Tuesday, August 15th. Finally, UBS AG raised shares of Four Corners Property Trust from a “market perform” rating to an “outperform” rating in a report on Tuesday, August 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $27.00.

About Four Corners Property Trust

Four Corners Property Trust, Inc is a self-administered company and real estate investment trust (REIT), which owns, acquires and leases properties for use in the restaurant and food service related industries. The Company operates through two segments: real estate operations and restaurant operations.

Institutional Ownership by Quarter for Four Corners Property Trust (NYSE:FCPT)

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