OppenheimerFunds Inc. Has $38.20 Million Holdings in Four Corners Property Trust Inc (NYSE:FCPT)

OppenheimerFunds Inc. decreased its holdings in Four Corners Property Trust Inc (NYSE:FCPT) by 7.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,290,442 shares of the financial services provider’s stock after selling 108,188 shares during the quarter. OppenheimerFunds Inc. owned 1.89% of Four Corners Property Trust worth $38,197,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of FCPT. Raymond James Financial Services Advisors Inc. boosted its stake in Four Corners Property Trust by 7.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 33,261 shares of the financial services provider’s stock worth $871,000 after acquiring an additional 2,272 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Four Corners Property Trust in the 1st quarter worth about $274,000. California Public Employees Retirement System raised its position in Four Corners Property Trust by 19.1% in the 1st quarter. California Public Employees Retirement System now owns 109,861 shares of the financial services provider’s stock worth $3,252,000 after buying an additional 17,595 shares during the last quarter. Comerica Bank raised its position in Four Corners Property Trust by 2.0% in the 4th quarter. Comerica Bank now owns 66,862 shares of the financial services provider’s stock worth $1,849,000 after buying an additional 1,289 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Four Corners Property Trust by 11.1% in the 4th quarter. Bank of America Corp DE now owns 399,344 shares of the financial services provider’s stock worth $10,463,000 after buying an additional 39,857 shares during the last quarter. Institutional investors and hedge funds own 89.89% of the company’s stock.

FCPT has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Four Corners Property Trust from a “buy” rating to a “hold” rating in a research report on Thursday, February 14th. Berenberg Bank assumed coverage on shares of Four Corners Property Trust in a research report on Tuesday, April 23rd. They set a “hold” rating and a $36.00 price target for the company. Boenning Scattergood set a $30.00 price target on shares of Four Corners Property Trust and gave the company a “buy” rating in a research report on Friday, February 15th. Finally, Barclays assumed coverage on shares of Four Corners Property Trust in a research report on Wednesday, May 15th. They set an “equal weight” rating and a $29.00 price target for the company. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $30.40.

Shares of NYSE:FCPT traded up $0.14 during mid-day trading on Wednesday, reaching $27.96. 5,622 shares of the company traded hands, compared to its average volume of 370,026. The company has a market cap of $1.91 billion, a PE ratio of 19.84 and a beta of 0.27. The company has a current ratio of 5.78, a quick ratio of 5.78 and a debt-to-equity ratio of 0.89. Four Corners Property Trust Inc has a 52 week low of $22.64 and a 52 week high of $29.85.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.10). Four Corners Property Trust had a net margin of 56.35% and a return on equity of 12.63%. The company had revenue of $39.60 million for the quarter, compared to the consensus estimate of $39.84 million. During the same quarter last year, the firm posted $0.34 earnings per share. The company’s revenue was up 13.8% compared to the same quarter last year. Equities research analysts predict that Four Corners Property Trust Inc will post 1.44 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.287 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date is Thursday, June 27th. Four Corners Property Trust’s payout ratio is 81.56%.

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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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