Municipal Employees Retirement System of Michigan increased its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 63.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,036 shares of the financial services provider’s stock after purchasing an additional 8,900 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Four Corners Property Trust were worth $574,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. grew its position in Four Corners Property Trust by 1.0% during the second quarter. BlackRock Inc. now owns 8,850,671 shares of the financial services provider’s stock worth $222,241,000 after buying an additional 84,435 shares during the period. Vanguard Group Inc. grew its position in shares of Four Corners Property Trust by 3.2% in the second quarter. Vanguard Group Inc. now owns 7,691,152 shares of the financial services provider’s stock valued at $193,125,000 after purchasing an additional 236,781 shares during the last quarter. FMR LLC grew its position in shares of Four Corners Property Trust by 265.8% in the second quarter. FMR LLC now owns 3,146,106 shares of the financial services provider’s stock valued at $78,999,000 after purchasing an additional 2,285,965 shares during the last quarter. Prudential Financial Inc. grew its position in shares of Four Corners Property Trust by 8.4% in the third quarter. Prudential Financial Inc. now owns 1,935,717 shares of the financial services provider’s stock valued at $48,239,000 after purchasing an additional 150,436 shares during the last quarter. Finally, State Street Corp grew its position in shares of Four Corners Property Trust by 6.7% in the second quarter. State Street Corp now owns 1,745,481 shares of the financial services provider’s stock valued at $43,831,000 after purchasing an additional 109,180 shares during the last quarter. 86.45% of the stock is owned by hedge funds and other institutional investors.

FCPT has been the topic of several research reports. Zacks Investment Research lowered shares of Four Corners Property Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. BidaskClub lowered shares of Four Corners Property Trust from a “hold” rating to a “sell” rating in a research report on Thursday, September 28th. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Four Corners Property Trust in a research report on Friday, November 3rd. Raymond James Financial upgraded shares of Four Corners Property Trust from a “market perform” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Tuesday, August 15th. Finally, UBS upgraded shares of Four Corners Property Trust from a “market perform” rating to an “outperform” rating in a research report on Tuesday, August 15th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Four Corners Property Trust presently has a consensus rating of “Buy” and an average target price of $27.25.

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) opened at $26.03 on Monday. Four Corners Property Trust, Inc. has a 1 year low of $18.51 and a 1 year high of $26.75. The stock has a market cap of $1,592.93, a P/E ratio of 19.42 and a beta of 0.12.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be given a dividend of $0.275 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.10 dividend on an annualized basis and a yield of 4.23%. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.24. Four Corners Property Trust’s dividend payout ratio (DPR) is 68.79%.

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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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