Mitsubishi UFJ Asset Management Co. Ltd. Has $1.72 Million Stake in Four Corners Property Trust, Inc. (NYSE:FCPT)

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 7.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 63,406 shares of the financial services provider’s stock after purchasing an additional 4,437 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Four Corners Property Trust were worth $1,722,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in FCPT. 1620 Investment Advisors Inc. increased its position in Four Corners Property Trust by 4.1% during the 4th quarter. 1620 Investment Advisors Inc. now owns 9,138 shares of the financial services provider’s stock worth $248,000 after buying an additional 363 shares during the period. Arizona State Retirement System grew its stake in shares of Four Corners Property Trust by 1.5% in the fourth quarter. Arizona State Retirement System now owns 26,893 shares of the financial services provider’s stock valued at $730,000 after acquiring an additional 406 shares in the last quarter. Eagle Bay Advisors LLC increased its position in Four Corners Property Trust by 25.0% during 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 during the period. Oppenheimer Asset Management Inc. raised its stake in Four Corners Property Trust by 1.0% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 45,170 shares of the financial services provider’s stock worth $1,226,000 after purchasing an additional 469 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in Four Corners Property Trust by 10.4% in the 4th quarter. Signaturefd LLC now owns 6,141 shares of the financial services provider’s stock valued at $167,000 after purchasing an additional 579 shares during the period. 98.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FCPT. Barclays lowered their target price on shares of 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 raised their price objective on Four Corners Property Trust from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, March 10th. Finally, JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Four Corners Property Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.20.

Four Corners Property Trust Stock Performance

Shares of NYSE:FCPT opened at $28.69 on Wednesday. The company’s 50 day simple moving average is $28.15 and its 200 day simple moving average is $28.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.11 and a quick ratio of 0.11. Four Corners Property Trust, Inc. has a 1 year low of $22.38 and a 1 year high of $30.93. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 26.81 and a beta of 1.16.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates 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%. As a group, research analysts predict that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.355 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.95%. Four Corners Property Trust’s payout ratio is currently 132.71%.

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.