Jane Street Group LLC Purchases 173,598 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Jane Street Group LLC grew its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 212.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 255,275 shares of the financial services provider’s stock after buying an additional 173,598 shares during the quarter. Jane Street Group LLC’s holdings in Four Corners Property Trust were worth $7,482,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FCPT. Blue Trust Inc. boosted its position in Four Corners Property Trust by 1,469.1% in the second quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 3,467 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in Four Corners Property Trust by 3.1% during the second quarter. Louisiana State Employees Retirement System now owns 46,300 shares of the financial services provider’s stock worth $1,142,000 after buying an additional 1,400 shares during the last quarter. Bank of New York Mellon Corp raised its position in Four Corners Property Trust by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 986,291 shares of the financial services provider’s stock worth $24,332,000 after acquiring an additional 22,792 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Four Corners Property Trust by 5.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,403 shares of the financial services provider’s stock valued at $1,836,000 after acquiring an additional 3,597 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Four Corners Property Trust by 12.4% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,934 shares of the financial services provider’s stock valued at $812,000 after acquiring an additional 3,636 shares during the period. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Analyst Upgrades and Downgrades

FCPT has been the topic of several research analyst reports. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research note on Tuesday, December 10th. UBS Group assumed coverage on Four Corners Property Trust in a research note on Thursday, November 14th. They set a “buy” rating and a $33.00 price target for the company. Evercore ISI boosted their price objective on Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Raymond James increased their target price on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $32.00 price target (up previously from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.50.

Four Corners Property Trust Stock Performance

Shares of FCPT opened at $28.73 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 26.85 and a beta of 1.12. Four Corners Property Trust, Inc. has a 52-week low of $22.38 and a 52-week high of $30.93. The stock’s 50-day simple moving average is $28.73 and its 200 day simple moving average is $27.52.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.14). Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The firm had revenue of $66.79 million for the quarter, compared to analysts’ expectations of $63.50 million. During the same period in the prior year, the firm posted $0.42 EPS. Four Corners Property Trust’s revenue was up 3.0% on a year-over-year basis. Research analysts forecast that Four Corners Property Trust, Inc. will post 1.66 EPS for the current fiscal year.

Four Corners Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date is Tuesday, December 31st. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s dividend payout ratio (DPR) is 128.97%.

Four Corners Property Trust Company Profile

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.