Principal Financial Group Inc. Sells 1,374 Shares of Four Corners Property Trust Inc (NYSE:FCPT)

Principal Financial Group Inc. cut its position in shares of Four Corners Property Trust Inc (NYSE:FCPT) by 0.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,927,363 shares of the financial services provider’s stock after selling 1,374 shares during the quarter. Principal Financial Group Inc. owned about 2.80% of Four Corners Property Trust worth $54,332,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in Four Corners Property Trust by 5.4% in the fourth quarter. Victory Capital Management Inc. now owns 10,258 shares of the financial services provider’s stock worth $311,000 after purchasing an additional 528 shares in the last quarter. US Bancorp DE grew its position in shares of Four Corners Property Trust by 4.5% during the 4th quarter. US Bancorp DE now owns 28,540 shares of the financial services provider’s stock worth $805,000 after buying an additional 1,235 shares during the period. Texas Permanent School Fund grew its position in shares of Four Corners Property Trust by 1.2% during the 4th quarter. Texas Permanent School Fund now owns 47,140 shares of the financial services provider’s stock worth $1,329,000 after buying an additional 572 shares during the period. First Trust Advisors LP increased its stake in shares of Four Corners Property Trust by 214.7% in the 4th quarter. First Trust Advisors LP now owns 51,769 shares of the financial services provider’s stock valued at $1,459,000 after acquiring an additional 35,317 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its stake in shares of Four Corners Property Trust by 48.3% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 14,826 shares of the financial services provider’s stock valued at $418,000 after acquiring an additional 4,826 shares in the last quarter. Institutional investors own 90.52% of the company’s stock.

Several brokerages recently issued reports on FCPT. Zacks Investment Research raised shares of Four Corners Property Trust from a “strong sell” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Monday, December 16th. JPMorgan Chase & Co. assumed coverage on shares of Four Corners Property Trust in a research note on Wednesday, December 18th. They issued a “neutral” rating and a $30.00 price target for the company. Finally, Evercore ISI assumed coverage on shares of Four Corners Property Trust in a report on Friday, January 24th. They set an “outperform” rating and a $34.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $31.57.

NYSE FCPT traded up $0.14 during mid-day trading on Friday, hitting $32.04. The company’s stock had a trading volume of 10,075 shares, compared to its average volume of 418,713. The company’s 50 day simple moving average is $29.05 and its 200 day simple moving average is $28.27. Four Corners Property Trust Inc has a twelve month low of $26.23 and a twelve month high of $32.00. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 29.13 and a beta of 0.11.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.07). The business had revenue of $40.88 million for the quarter, compared to analyst estimates of $41.10 million. Four Corners Property Trust had a return on equity of 10.90% and a net margin of 47.59%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 EPS. As a group, research analysts forecast that Four Corners Property Trust Inc will post 1.33 EPS for the current year.

Four Corners Property Trust Company 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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