Morgan Stanley Grows Stock Holdings in Four Corners Property Trust Inc (NYSE:FCPT)

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Morgan Stanley grew its holdings in shares of Four Corners Property Trust Inc (NYSE:FCPT) by 18.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 463,214 shares of the financial services provider’s stock after acquiring an additional 73,706 shares during the period. Morgan Stanley’s holdings in Four Corners Property Trust were worth $12,660,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in FCPT. Invesco Ltd. lifted its holdings in shares of Four Corners Property Trust by 219.4% during the second quarter. Invesco Ltd. now owns 3,727,161 shares of the financial services provider’s stock valued at $101,864,000 after purchasing an additional 2,560,414 shares during the last quarter. Balyasny Asset Management LLC lifted its holdings in shares of Four Corners Property Trust by 332.0% during the second quarter. Balyasny Asset Management LLC now owns 629,130 shares of the financial services provider’s stock valued at $17,194,000 after purchasing an additional 483,495 shares during the last quarter. Echo Street Capital Management LLC purchased a new position in shares of Four Corners Property Trust during the second quarter valued at approximately $12,096,000. Vanguard Group Inc. lifted its holdings in shares of Four Corners Property Trust by 3.6% during the second quarter. Vanguard Group Inc. now owns 8,053,856 shares of the financial services provider’s stock valued at $220,112,000 after purchasing an additional 277,500 shares during the last quarter. Finally, Carlson Capital L P lifted its holdings in shares of Four Corners Property Trust by 32.2% during the second quarter. Carlson Capital L P now owns 1,018,942 shares of the financial services provider’s stock valued at $27,848,000 after purchasing an additional 248,470 shares during the last quarter. Hedge funds and other institutional investors own 91.50% of the company’s stock.

Several equities analysts have recently issued reports on FCPT shares. Berenberg Bank upgraded shares of Four Corners Property Trust from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Zacks Investment Research lowered shares of Four Corners Property Trust from a “hold” rating to a “sell” rating in a report on Wednesday, September 18th. ValuEngine lowered shares of Four Corners Property Trust from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, Janney Montgomery Scott started coverage on shares of Four Corners Property Trust in a report on Friday, June 21st. They set a “buy” rating and a $32.00 target price for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $31.40.

Shares of FCPT opened at $28.51 on Friday. The company has a market capitalization of $1.98 billion, a P/E ratio of 20.22 and a beta of 0.15. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.90. The firm has a 50 day moving average of $28.47 and a 200 day moving average of $28.30. Four Corners Property Trust Inc has a twelve month low of $24.71 and a twelve month high of $29.85.

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

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be given a dividend of $0.2875 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.15 annualized dividend and a dividend yield of 4.03%. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.24. Four Corners Property Trust’s dividend payout ratio (DPR) is 81.56%.

Four Corners Property Trust 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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