Renaissance Group LLC Takes $206,000 Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Renaissance Group LLC purchased a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 8,122 shares of the financial services provider’s stock, valued at approximately $206,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wells Fargo & Company MN increased its stake in shares of Four Corners Property Trust by 50.0% during the 4th quarter. Wells Fargo & Company MN now owns 609,208 shares of the financial services provider’s stock worth $15,413,000 after purchasing an additional 203,047 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Four Corners Property Trust by 31.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,626 shares of the financial services provider’s stock valued at $269,000 after buying an additional 2,551 shares during the period. Norges Bank purchased a new position in shares of Four Corners Property Trust during the 4th quarter valued at $14,546,000. Beacon Pointe Advisors LLC boosted its position in Four Corners Property Trust by 12.3% during the fourth quarter. Beacon Pointe Advisors LLC now owns 13,377 shares of the financial services provider’s stock worth $338,000 after purchasing an additional 1,462 shares during the period. Finally, Quadrant Capital Group LLC boosted its holdings in Four Corners Property Trust by 85.3% in the 4th quarter. Quadrant Capital Group LLC now owns 7,289 shares of the financial services provider’s stock worth $184,000 after buying an additional 3,355 shares during the period. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company upped their target price on shares of Four Corners Property Trust from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th.

Four Corners Property Trust Price Performance

Four Corners Property Trust stock traded down $0.03 during midday trading on Wednesday, hitting $24.81. 11,265 shares of the company’s stock were exchanged, compared to its average volume of 483,266. The stock has a 50-day moving average price of $23.98 and a two-hundred day moving average price of $23.96. Four Corners Property Trust, Inc. has a 52-week low of $20.51 and a 52-week high of $27.60. The company has a market cap of $2.28 billion, a P/E ratio of 23.21 and a beta of 1.01. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.14 and a current ratio of 0.14.

Four Corners Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a dividend yield of 5.56%. The ex-dividend date of this dividend was Wednesday, March 27th. Four Corners Property Trust’s payout ratio is 128.97%.

Four Corners Property Trust Profile

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.