Mystic Asset Management Inc. Buys New Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Mystic Asset Management Inc. bought a new stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 15,250 shares of the financial services provider’s stock, valued at approximately $414,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FCPT. EverSource Wealth Advisors LLC boosted its holdings in Four Corners Property Trust by 234.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 817 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Four Corners Property Trust by 165.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,379 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 860 shares in the last quarter. Truvestments Capital LLC bought a new position in Four Corners Property Trust in the third quarter worth approximately $51,000. Synergy Investment Management LLC bought a new position in Four Corners Property Trust in the fourth quarter worth approximately $48,000. Finally, Eagle Bay Advisors LLC boosted its holdings in Four Corners Property Trust by 25.0% in the fourth quarter. Eagle Bay Advisors LLC now owns 2,125 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 425 shares in the last quarter. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Stock Performance

Shares of Four Corners Property Trust stock opened at $28.03 on Wednesday. The company has a market cap of $2.80 billion, a PE ratio of 26.20 and a beta of 1.16. Four Corners Property Trust, Inc. has a 52 week low of $22.38 and a 52 week high of $30.93. The business has a 50 day moving average price of $27.89 and a 200-day moving average price of $28.40. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.36.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.28 by $0.16. Four Corners Property Trust had a return on equity of 7.54% and a net margin of 37.48%. Equities analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date of this dividend is Monday, March 31st. Four Corners Property Trust’s payout ratio is 132.71%.

Analyst Ratings Changes

Several brokerages have issued reports on FCPT. Barclays cut their price target on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Wells Fargo & Company increased their price target on Four Corners Property Trust from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, March 10th. Finally, JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Four Corners Property Trust has a consensus rating of “Moderate Buy” and a consensus target price of $30.20.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.