Bank of America Corp DE increased its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 55.0% during the first quarter, Holdings Channel reports. The institutional investor owned 136,746 shares of the financial services provider’s stock after buying an additional 48,526 shares during the period. Bank of America Corp DE’s holdings in Four Corners Property Trust were worth $3,122,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. increased its position in shares of Four Corners Property Trust by 5.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 252,572 shares of the financial services provider’s stock worth $5,767,000 after buying an additional 13,829 shares in the last quarter. BlackRock Inc. increased its position in shares of Four Corners Property Trust by 13,867.2% in the first quarter. BlackRock Inc. now owns 8,766,236 shares of the financial services provider’s stock worth $200,133,000 after buying an additional 8,703,473 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Four Corners Property Trust during the first quarter worth approximately $1,301,000. Citadel Advisors LLC increased its position in shares of Four Corners Property Trust by 471.1% in the first quarter. Citadel Advisors LLC now owns 516,681 shares of the financial services provider’s stock worth $11,796,000 after buying an additional 426,213 shares in the last quarter. Finally, UBS Group AG increased its position in shares of Four Corners Property Trust by 17.6% in the first quarter. UBS Group AG now owns 46,182 shares of the financial services provider’s stock worth $1,054,000 after buying an additional 6,925 shares in the last quarter. 87.90% of the stock is owned by institutional investors and hedge funds.

Four Corners Property Trust, Inc. (NYSE:FCPT) traded up 0.45% during midday trading on Monday, reaching $24.39. The company had a trading volume of 35,867 shares. The firm’s 50-day moving average price is $25.33 and its 200 day moving average price is $23.27. The firm has a market capitalization of $1.46 billion, a PE ratio of 18.80 and a beta of 0.15. Four Corners Property Trust, Inc. has a 12 month low of $16.71 and a 12 month high of $25.94.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by $0.01. Four Corners Property Trust had a net margin of 63.74% and a return on equity of 17.21%. The company had revenue of $33.20 million during the quarter, compared to analyst estimates of $33.33 million. During the same quarter last year, the business posted $0.33 EPS. Four Corners Property Trust’s quarterly revenue was up 7.5% compared to the same quarter last year. Equities analysts anticipate that Four Corners Property Trust, Inc. will post $1.03 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a dividend of $0.2425 per share. The ex-dividend date was Wednesday, June 28th. This represents a $0.97 dividend on an annualized basis and a yield of 4.00%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 71.85%.

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A number of equities analysts have recently commented on the company. BidaskClub downgraded Four Corners Property Trust from a “buy” rating to a “hold” rating in a research report on Friday. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Four Corners Property Trust in a research report on Thursday. Canaccord Genuity assumed coverage on Four Corners Property Trust in a research report on Tuesday, July 18th. They set a “hold” rating and a $26.00 price objective for the company. Finally, Zacks Investment Research raised Four Corners Property Trust from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Wednesday, July 12th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Four Corners Property Trust currently has a consensus 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.

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

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