BlackRock Inc. Sells 454,451 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Posted by on Mar 10th, 2023

BlackRock Inc. cut its position in Four Corners Property Trust, Inc. (NYSE:FCPT – Get Rating) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,193,370 shares of the financial services provider’s stock after selling 454,451 shares during the period. BlackRock Inc. owned 18.11% of Four Corners Property Trust worth $367,527,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Macquarie Group Ltd. grew its holdings in Four Corners Property Trust by 347.0% during the 2nd quarter. Macquarie Group Ltd. now owns 1,523,593 shares of the financial services provider’s stock worth $40,561,000 after acquiring an additional 1,182,740 shares during the last quarter. Millennium Management LLC grew its stake in shares of Four Corners Property Trust by 3,063.1% during the second quarter. Millennium Management LLC now owns 822,438 shares of the financial services provider’s stock valued at $21,869,000 after purchasing an additional 796,437 shares during the last quarter. Centersquare Investment Management LLC raised its position in Four Corners Property Trust by 71.3% in the 3rd quarter. Centersquare Investment Management LLC now owns 1,645,217 shares of the financial services provider’s stock worth $39,798,000 after purchasing an additional 684,835 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in Four Corners Property Trust by 74.6% during the 3rd quarter. Nuveen Asset Management LLC now owns 1,571,736 shares of the financial services provider’s stock worth $38,020,000 after buying an additional 671,366 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Four Corners Property Trust by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 9,456,757 shares of the financial services provider’s stock valued at $255,711,000 after buying an additional 312,407 shares during the last quarter. 94.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FCPT has been the topic of several research reports. Raymond James upped their price target on Four Corners Property Trust from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Monday, January 9th. Evercore ISI lowered shares of Four Corners Property Trust from an “outperform” rating to an “inline” rating and set a $28.00 target price on the stock. in a research note on Monday, November 21st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Four Corners Property Trust currently has a consensus rating of “Hold” and a consensus target price of $28.33.

Four Corners Property Trust Stock Down 0.8 %

Shares of Four Corners Property Trust stock opened at $26.81 on Friday. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 0.87. The stock has a market cap of $2.31 billion, a PE ratio of 22.34 and a beta of 0.92. The business has a fifty day simple moving average of $27.90 and a 200 day simple moving average of $26.67. Four Corners Property Trust, Inc. has a 12 month low of $22.67 and a 12 month high of $30.13.

Four Corners Property Trust Company Profile

(Get Rating)

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the following business segments: Real Estate Operations and Restaurant Operations. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.

Read More

Want to see what other hedge funds are holding FCPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Four Corners Property Trust, Inc. (NYSE:FCPT – Get Rating).

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

Receive News & Ratings for Four Corners Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Four Corners Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.