Principal Financial Group Inc. Raises Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

Principal Financial Group Inc. lifted its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 474,151 shares of the financial services provider’s stock after purchasing an additional 6,137 shares during the period. Principal Financial Group Inc. owned about 0.77% of Four Corners Property Trust worth $11,816,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in shares of Four Corners Property Trust by 1.0% in the second quarter. BlackRock Inc. now owns 8,850,671 shares of the financial services provider’s stock worth $222,241,000 after buying an additional 84,435 shares during the period. Vanguard Group Inc. grew its holdings in shares of Four Corners Property Trust by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 7,691,152 shares of the financial services provider’s stock worth $193,125,000 after purchasing an additional 236,781 shares in the last quarter. FMR LLC grew its holdings in shares of Four Corners Property Trust by 265.8% during the 2nd quarter. FMR LLC now owns 3,146,106 shares of the financial services provider’s stock worth $78,999,000 after purchasing an additional 2,285,965 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of Four Corners Property Trust by 8.4% during the 3rd quarter. Prudential Financial Inc. now owns 1,935,717 shares of the financial services provider’s stock worth $48,239,000 after purchasing an additional 150,436 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Four Corners Property Trust by 6.7% during the 2nd quarter. State Street Corp now owns 1,745,481 shares of the financial services provider’s stock worth $43,831,000 after purchasing an additional 109,180 shares in the last quarter. 86.45% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently issued reports on FCPT shares. Raymond James Financial upgraded Four Corners Property Trust from a “market perform” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Tuesday, August 15th. BidaskClub upgraded Four Corners Property Trust from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Ladenburg Thalmann Financial Services reissued a “buy” rating and issued a $27.00 target price (up previously from $24.00) on shares of Four Corners Property Trust in a research report on Wednesday, August 16th. Zacks Investment Research raised Four Corners Property Trust from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Tuesday, October 17th. Finally, UBS raised Four Corners Property Trust from a “market perform” rating to an “outperform” rating in a report on Tuesday, August 15th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $27.25.

Shares of Four Corners Property Trust, Inc. (FCPT) opened at $25.36 on Monday. The firm has a market capitalization of $1,551.93, a PE ratio of 18.92 and a beta of 0.12. Four Corners Property Trust, Inc. has a twelve month low of $18.97 and a twelve month high of $26.75.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be given a dividend of $0.275 per share. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.10 annualized dividend and a dividend yield of 4.34%. Four Corners Property Trust’s payout ratio is presently 68.79%.

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About Four Corners Property Trust

Four Corners Property Trust, Inc is a self-administered company and real estate investment trust (REIT), which owns, acquires and leases properties for use in the restaurant and food service related industries. The Company operates through two segments: real estate operations and restaurant operations.

Institutional Ownership by Quarter for Four Corners Property Trust (NYSE:FCPT)

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