15,390 Shares in Four Corners Property Trust, Inc. $FCPT Acquired by Vancity Investment Management Ltd

Key Points

• Vancity Investment Management Ltd has purchased 15,390 shares of Four Corners Property Trust, Inc., valued at approximately $442,000, during the 1st quarter of the fiscal year.
• The stock has a market cap of $2.73 billion and reported a 9.6% year-over-year revenue increase, with an earnings per share of $0.44 beating analyst estimates.
• Analyst ratings for the company show a consensus of "Moderate Buy" with a target price averaging $29.50 after recent adjustments from various firms.

Vancity Investment Management Ltd bought a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 15,390 shares of the financial services provider's stock, valued at approximately $442,000.

Several other large investors also recently modified their holdings of FCPT. Zimmer Partners LP acquired a new stake in shares of Four Corners Property Trust during the 4th quarter worth $38,512,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Four Corners Property Trust during the 1st quarter worth $33,515,000. Nuveen LLC acquired a new stake in shares of Four Corners Property Trust during the 1st quarter worth $18,291,000. Cbre Investment Management Listed Real Assets LLC grew its holdings in shares of Four Corners Property Trust by 63.1% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,342,834 shares of the financial services provider's stock worth $38,539,000 after purchasing an additional 519,633 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Four Corners Property Trust during the 1st quarter worth $14,350,000. 98.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on FCPT shares. Wells Fargo & Company reissued an "equal weight" rating and set a $27.00 target price (down from $29.00) on shares of Four Corners Property Trust in a report on Thursday. Barclays reduced their target price on Four Corners Property Trust from $30.00 to $29.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 20th. Raymond James Financial dropped their price objective on Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Finally, UBS Group upped their price objective on Four Corners Property Trust from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Four Corners Property Trust currently has a consensus rating of "Hold" and a consensus price target of $29.00.

Four Corners Property Trust Price Performance

Shares of FCPT stock remained flat at $25.45 on Friday. The company had a trading volume of 540,479 shares, compared to its average volume of 469,762. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.12 and a current ratio of 0.12. Four Corners Property Trust, Inc. has a twelve month low of $25.00 and a twelve month high of $30.93. The company has a market capitalization of $2.66 billion, a PE ratio of 23.57 and a beta of 0.86. The stock's 50 day moving average is $25.97 and its 200 day moving average is $27.12.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $72.84 million during the quarter, compared to the consensus estimate of $70.27 million. Four Corners Property Trust had a return on equity of 7.40% and a net margin of 37.87%.Four Corners Property Trust's revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.43 EPS. Sell-side analysts predict that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO William H. Lenehan bought 7,850 shares of the company's stock in a transaction on Friday, September 12th. The stock was purchased at an average cost of $25.40 per share, for a total transaction of $199,390.00. Following the completion of the transaction, the chief executive officer owned 698,426 shares of the company's stock, valued at $17,740,020.40. This trade represents a 1.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.20% of the company's stock.

Four Corners Property Trust Company 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.