Earnest Partners LLC Sells 39,803 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Earnest Partners LLC decreased its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,114,809 shares of the financial services provider's stock after selling 39,803 shares during the period. Earnest Partners LLC owned approximately 3.22% of Four Corners Property Trust worth $84,536,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in Four Corners Property Trust by 12.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 74,070 shares of the financial services provider's stock worth $2,011,000 after acquiring an additional 8,097 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in Four Corners Property Trust during the 4th quarter worth $220,000. Hsbc Holdings PLC grew its position in Four Corners Property Trust by 18.0% during the 4th quarter. Hsbc Holdings PLC now owns 68,989 shares of the financial services provider's stock worth $1,872,000 after acquiring an additional 10,536 shares during the last quarter. Stifel Financial Corp grew its position in shares of Four Corners Property Trust by 2.6% in the 4th quarter. Stifel Financial Corp now owns 23,976 shares of the financial services provider's stock valued at $651,000 after buying an additional 606 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Four Corners Property Trust by 18.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,848 shares of the financial services provider's stock valued at $322,000 after buying an additional 1,811 shares during the last quarter. Institutional investors own 98.66% of the company's stock.

Four Corners Property Trust Trading Up 0.3 %

NYSE:FCPT traded up $0.07 during trading hours on Wednesday, reaching $27.92. The company's stock had a trading volume of 693,179 shares, compared to its average volume of 620,003. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 26.09 and a beta of 0.93. The firm has a 50-day simple moving average of $28.07 and a 200-day simple moving average of $28.09. Four Corners Property Trust, Inc. has a 1 year low of $23.25 and a 1 year high of $30.93. 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 announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business's revenue was up 7.5% compared to the same quarter last year. During the same period last year, the firm posted $0.43 EPS. Research analysts expect that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors 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 5.09%. The ex-dividend date was Monday, March 31st. Four Corners Property Trust's payout ratio is currently 132.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Barclays reduced their price target on Four Corners Property Trust from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company upped their target price on Four Corners Property Trust from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Monday, March 10th. Finally, JMP Securities reiterated a "market perform" rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus 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.