Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,583,575 shares of the financial services provider's stock after selling 22,569 shares during the period. Bank of America Corp DE owned about 1.64% of Four Corners Property Trust worth $42,978,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in FCPT. 1620 Investment Advisors Inc. boosted its holdings in Four Corners Property Trust by 4.1% during the fourth quarter. 1620 Investment Advisors Inc. now owns 9,138 shares of the financial services provider's stock worth $248,000 after buying an additional 363 shares in the last quarter. Arizona State Retirement System raised its position in Four Corners Property Trust by 1.5% during the fourth quarter. Arizona State Retirement System now owns 26,893 shares of the financial services provider's stock worth $730,000 after acquiring an additional 406 shares during the period. Mariner LLC raised its position in Four Corners Property Trust by 2.8% during the fourth quarter. Mariner LLC now owns 17,098 shares of the financial services provider's stock worth $464,000 after acquiring an additional 467 shares during the period. Oppenheimer Asset Management Inc. raised its position in Four Corners Property Trust by 1.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 45,170 shares of the financial services provider's stock worth $1,226,000 after acquiring an additional 469 shares during the period. Finally, Signaturefd LLC raised its position in Four Corners Property Trust by 10.4% during the fourth quarter. Signaturefd LLC now owns 6,141 shares of the financial services provider's stock worth $167,000 after acquiring an additional 579 shares during the period. 98.66% of the stock is owned by hedge funds and other institutional investors.

Four Corners Property Trust Trading Down 0.2%

Four Corners Property Trust stock traded down $0.07 during midday trading on Tuesday, hitting $27.55. 24,116 shares of the stock were exchanged, compared to its average volume of 625,737. Four Corners Property Trust, Inc. has a fifty-two week low of $23.70 and a fifty-two week high of $30.93. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 25.72 and a beta of 0.86. The stock's 50-day simple moving average is $27.78 and its 200 day simple moving average is $27.97. 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 (NYSE:FCPT - Get Free Report) last released its quarterly earnings data 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 analysts' expectations of $67.17 million. During the same period last year, the business earned $0.43 earnings per share. Four Corners Property Trust's revenue was up 7.5% compared to the same quarter last year. On average, equities analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The business 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. This represents a $1.42 annualized dividend and a yield of 5.16%. The ex-dividend date was Monday, March 31st. Four Corners Property Trust's dividend payout ratio (DPR) is presently 132.71%.

Insiders Place Their Bets

In other news, CAO Niccole Stewart sold 9,100 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $27.28, for a total value of $248,248.00. Following the completion of the transaction, the chief accounting officer now owns 31,204 shares of the company's stock, valued at approximately $851,245.12. This trade represents a 22.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FCPT. JMP Securities restated a "market perform" rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. UBS Group reduced their price objective on shares of Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company upped their price objective on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Monday, March 10th. Finally, Barclays reduced their price objective on shares of Four Corners Property Trust from $31.00 to $30.00 and set an "equal weight" rating for the company in a research report 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. According to MarketBeat, Four Corners Property Trust has a consensus rating of "Moderate Buy" and a consensus price target of $29.60.

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.