Balyasny Asset Management L.P. Purchases Shares of 666,307 Four Corners Property Trust, Inc. (NYSE:FCPT)

Balyasny Asset Management L.P. acquired a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 666,307 shares of the financial services provider's stock, valued at approximately $18,084,000. Balyasny Asset Management L.P. owned approximately 0.69% of Four Corners Property Trust as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in Four Corners Property Trust by 91.2% during the fourth quarter. SG Americas Securities LLC now owns 9,872 shares of the financial services provider's stock worth $268,000 after buying an additional 4,708 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Four Corners Property Trust by 1.3% in the 4th quarter. Bank of New York Mellon Corp now owns 891,425 shares of the financial services provider's stock valued at $24,193,000 after buying an additional 11,131 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Four Corners Property Trust by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,612,978 shares of the financial services provider's stock valued at $43,776,000 after buying an additional 94,903 shares in the last quarter. Barclays PLC lifted its holdings in shares of Four Corners Property Trust by 10.6% during the 4th quarter. Barclays PLC now owns 172,564 shares of the financial services provider's stock valued at $4,682,000 after purchasing an additional 16,543 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in shares of Four Corners Property Trust during the 4th quarter valued at about $419,000. Institutional investors own 98.66% of the company's stock.

Four Corners Property Trust Stock Down 1.6%

Shares of NYSE FCPT traded down $0.43 during midday trading on Tuesday, hitting $26.90. 98,897 shares of the stock traded hands, compared to its average volume of 749,352. The company has a market cap of $2.70 billion, a PE ratio of 25.14 and a beta of 0.86. Four Corners Property Trust, Inc. has a one year low of $23.70 and a one year high of $30.93. The business has a 50 day moving average price of $27.92 and a two-hundred day moving average price of $27.99. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.11 and a current ratio of 0.11.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. The firm had revenue of $71.48 million during the quarter, compared to analyst estimates of $67.17 million. During the same quarter in the prior year, the business posted $0.43 EPS. The business's revenue was up 7.5% compared to the same quarter last year. On average, equities analysts predict that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.355 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.42 dividend on an annualized basis and a yield of 5.28%. Four Corners Property Trust's dividend payout ratio (DPR) is presently 132.71%.

Wall Street Analyst Weigh In

FCPT has been the topic of a number of analyst reports. Wells Fargo & Company upped their price objective on Four Corners Property Trust from $30.00 to $31.00 and gave the stock an "overweight" rating in a research note on Monday, March 10th. Barclays reduced their price objective on 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. Finally, JMP Securities reissued a "market perform" rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Four Corners Property Trust has an average rating of "Moderate Buy" and an average target price of $30.20.

Four Corners Property Trust Profile

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.