Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. cut its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,975 shares of the financial services provider's stock after selling 12,437 shares during the quarter. Alliancebernstein L.P. owned about 0.14% of Four Corners Property Trust worth $3,609,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Four Corners Property Trust during the fourth quarter valued at $12,845,000. Norges Bank acquired a new position in shares of Four Corners Property Trust in the 4th quarter valued at about $7,254,000. Vanguard Group Inc. boosted its stake in shares of Four Corners Property Trust by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 10,874,938 shares of the financial services provider's stock worth $295,146,000 after buying an additional 240,230 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Four Corners Property Trust during the fourth quarter worth about $3,720,000. Finally, Principal Financial Group Inc. raised its position in Four Corners Property Trust by 6.1% during the third quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider's stock valued at $51,996,000 after acquiring an additional 102,662 shares in the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

Four Corners Property Trust Price Performance

FCPT traded up $0.40 during midday trading on Friday, hitting $28.19. 539,892 shares of the company traded hands, compared to its average volume of 613,099. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 26.34 and a beta of 0.93. The business has a 50 day simple moving average of $28.03 and a two-hundred day simple moving average of $28.11. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.36. Four Corners Property Trust, Inc. has a 52-week low of $22.89 and a 52-week high of $30.93.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.28 by $0.16. Four Corners Property Trust had a return on equity of 7.54% and a net margin of 37.48%. On average, equities analysts forecast that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.355 per share. The ex-dividend date was Monday, March 31st. This represents a $1.42 annualized dividend and a yield of 5.04%. Four Corners Property Trust's dividend payout ratio (DPR) is presently 132.71%.

Wall Street Analysts Forecast Growth

FCPT has been the topic of a number of analyst reports. JMP Securities reaffirmed a "market perform" rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. Wells Fargo & Company lifted their price objective on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Monday, March 10th. Finally, Barclays lowered their target price on shares of Four Corners Property Trust from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $30.20.

About Four Corners Property Trust

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 Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.