IndexIQ Advisors LLC Sells 5,515 Shares of Four Corners Property Trust Inc (FCPT)

IndexIQ Advisors LLC decreased its holdings in Four Corners Property Trust Inc (NYSE:FCPT) by 9.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,876 shares of the financial services provider’s stock after selling 5,515 shares during the quarter. IndexIQ Advisors LLC owned 0.08% of Four Corners Property Trust worth $1,412,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of America Corp DE grew its position in Four Corners Property Trust by 3.4% in the 2nd quarter. Bank of America Corp DE now owns 163,937 shares of the financial services provider’s stock valued at $4,038,000 after buying an additional 5,403 shares during the last quarter. Bank of New York Mellon Corp grew its position in Four Corners Property Trust by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 884,675 shares of the financial services provider’s stock valued at $21,789,000 after buying an additional 24,521 shares during the last quarter. FMR LLC grew its position in Four Corners Property Trust by 23.8% in the 2nd quarter. FMR LLC now owns 4,298,390 shares of the financial services provider’s stock valued at $105,869,000 after buying an additional 825,290 shares during the last quarter. Louisiana State Employees Retirement System grew its position in Four Corners Property Trust by 7.3% in the 3rd quarter. Louisiana State Employees Retirement System now owns 29,500 shares of the financial services provider’s stock valued at $758,000 after buying an additional 2,000 shares during the last quarter. Finally, Aperio Group LLC grew its position in Four Corners Property Trust by 4.6% in the 3rd quarter. Aperio Group LLC now owns 55,321 shares of the financial services provider’s stock valued at $1,421,000 after buying an additional 2,440 shares during the last quarter. 92.54% of the stock is owned by institutional investors and hedge funds.

Several brokerages have commented on FCPT. Zacks Investment Research lowered shares of Four Corners Property Trust from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 25th. TheStreet upgraded shares of Four Corners Property Trust from a “c” rating to a “b” rating in a research report on Monday, October 29th. ValuEngine upgraded shares of Four Corners Property Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, January 2nd. Finally, Boenning Scattergood began coverage on shares of Four Corners Property Trust in a research report on Thursday, December 6th. They set an “outperform” rating and a $30.00 target price on the stock. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Four Corners Property Trust has an average rating of “Buy” and an average target price of $29.00.

Shares of NYSE FCPT opened at $28.18 on Wednesday. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 20.72 and a beta of 0.36. Four Corners Property Trust Inc has a one year low of $21.28 and a one year high of $28.68. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.95 and a current ratio of 2.95.

The company also recently declared a quarterly dividend, which was paid on Monday, January 14th. Stockholders of record on Friday, January 4th were paid a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend was Thursday, January 3rd. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.28. Four Corners Property Trust’s payout ratio is 84.56%.

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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 by acquiring additional real estate to lease, on a net basis, for use in the restaurant and related food services industry.

Further Reading: Stock Symbols Definition, Examples, Lookup

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

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