Trade Report: The Ameriprise Financial Inc. Increases Position in Four Corners Property Trust Inc. (FCPT)

The Ameriprise Financial Inc. Increases Position in Four Corners Property Trust Inc. (FCPT)

Ameriprise Financial Inc. boosted its stake in shares of Four Corners Property Trust Inc. (NYSE:FCPT) by 1.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 333,739 shares of the company’s stock after buying an additional 4,177 shares during the period. Ameriprise Financial Inc. owned 0.56% of Four Corners Property Trust worth $6,873,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in FCPT. Legal & General Group Plc raised its position in Four Corners Property Trust by 29.7% in the first quarter. Legal & General Group Plc now owns 229,909 shares of the company’s stock valued at $4,126,000 after buying an additional 52,618 shares in the last quarter. Royal Bank of Canada raised its position in Four Corners Property Trust by 131.4% in the first quarter. Royal Bank of Canada now owns 34,115 shares of the company’s stock valued at $612,000 after buying an additional 19,373 shares in the last quarter. Squarepoint Ops LLC raised its position in Four Corners Property Trust by 150.4% in the first quarter. Squarepoint Ops LLC now owns 47,465 shares of the company’s stock valued at $852,000 after buying an additional 28,513 shares in the last quarter. Heitman Real Estate Securities LLC raised its position in Four Corners Property Trust by 185.5% in the first quarter. Heitman Real Estate Securities LLC now owns 2,965,944 shares of the company’s stock valued at $53,239,000 after buying an additional 1,927,232 shares in the last quarter. Finally, Laffer Investments raised its position in Four Corners Property Trust by 50.0% in the first quarter. Laffer Investments now owns 12,251 shares of the company’s stock valued at $220,000 after buying an additional 4,083 shares in the last quarter. 89.40% of the stock is owned by institutional investors.

Four Corners Property Trust Inc. (NYSE:FCPT) traded up 0.95% during mid-day trading on Friday, hitting $20.12. The company’s stock had a trading volume of 271,632 shares. The firm has a market cap of $1.20 billion and a price-to-earnings ratio of 10.52. The firm has a 50 day moving average of $20.73 and a 200-day moving average of $19.91. Four Corners Property Trust Inc. has a 52-week low of $14.09 and a 52-week high of $24.44.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.03. The firm had revenue of $30.90 million for the quarter, compared to the consensus estimate of $4.62 million. Four Corners Property Trust’s quarterly revenue was up 569.0% compared to the same quarter last year. On average, equities research analysts expect that Four Corners Property Trust Inc. will post $1.27 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.2425 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.97 annualized dividend and a dividend yield of 4.82%.

Several research analysts have weighed in on the company. Zacks Investment Research lowered Four Corners Property Trust from a “hold” rating to a “sell” rating in a report on Wednesday, August 10th. JMP Securities lowered Four Corners Property Trust from an “outperform” rating to a “market perform” rating in a report on Monday, August 22nd. Finally, Robert W. Baird lowered Four Corners Property Trust from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from $20.00 to $21.00 in a report on Tuesday, July 12th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Four Corners Property Trust has a consensus rating of “Hold” and an average price target of $22.33.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc is a self-administered company, which is engaged in the ownership, acquisition and leasing of restaurant properties. The Company’s business is conducted through its subsidiaries, Four Corners Operating Partnership, LP (Four Corners OP) and Four Corners GP, LLC (Four Corners GP).

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