Pinebridge Investments L.P. Acquires 26,942 Shares of Four Corners Property Trust Inc (NYSE:FCPT)

Pinebridge Investments L.P. lifted its holdings in Four Corners Property Trust Inc (NYSE:FCPT) by 184.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,554 shares of the financial services provider’s stock after purchasing an additional 26,942 shares during the quarter. Pinebridge Investments L.P. owned 0.06% of Four Corners Property Trust worth $1,136,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Four Corners Property Trust by 3.6% in the first quarter. Principal Financial Group Inc. now owns 1,680,469 shares of the financial services provider’s stock worth $49,741,000 after purchasing an additional 58,935 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Four Corners Property Trust by 7.3% in the second quarter. Wells Fargo & Company MN now owns 1,550,879 shares of the financial services provider’s stock worth $42,385,000 after purchasing an additional 104,902 shares in the last quarter. Carlson Capital L P lifted its position in shares of Four Corners Property Trust by 32.2% in the second quarter. Carlson Capital L P now owns 1,018,942 shares of the financial services provider’s stock worth $27,848,000 after purchasing an additional 248,470 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Four Corners Property Trust by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 962,170 shares of the financial services provider’s stock worth $25,209,000 after purchasing an additional 27,864 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Four Corners Property Trust by 3.3% in the second quarter. Daiwa Securities Group Inc. now owns 744,696 shares of the financial services provider’s stock worth $20,353,000 after purchasing an additional 24,108 shares in the last quarter. 91.50% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have issued reports on the stock. ValuEngine lowered shares of Four Corners Property Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Zacks Investment Research lowered shares of Four Corners Property Trust from a “hold” rating to a “sell” rating in a research report on Wednesday. Berenberg Bank raised shares of Four Corners Property Trust from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Janney Montgomery Scott assumed coverage on shares of Four Corners Property Trust in a research report on Friday, June 21st. They set a “buy” rating and a $32.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.40.

NYSE FCPT traded up $0.16 on Thursday, hitting $28.62. 4,968 shares of the stock were exchanged, compared to its average volume of 292,054. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.77 and a quick ratio of 3.77. The business’s fifty day moving average is $28.03 and its 200 day moving average is $28.29. Four Corners Property Trust Inc has a 52 week low of $24.58 and a 52 week high of $29.85. The company has a market capitalization of $1.94 billion, a PE ratio of 20.30 and a beta of 0.16.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.10). Four Corners Property Trust had a return on equity of 10.75% and a net margin of 48.31%. The firm had revenue of $39.57 million for the quarter, compared to the consensus estimate of $40.64 million. During the same period last year, the company posted $0.35 earnings per share. The business’s revenue was up 14.1% compared to the same quarter last year. Analysts predict that Four Corners Property Trust Inc will post 1.32 EPS for the current fiscal year.

Four Corners Property Trust Company Profile

FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio primarily by acquiring additional real estate to lease, on a net basis, for use in the restaurant and food industry.

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

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