Allianz Asset Management GmbH increased its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 154.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,305 shares of the financial services provider's stock after purchasing an additional 34,205 shares during the period. Allianz Asset Management GmbH owned approximately 0.06% of Four Corners Property Trust worth $1,616,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new position in shares of Four Corners Property Trust in the 4th quarter worth about $46,000. Quarry LP bought a new position in shares of Four Corners Property Trust in the 4th quarter worth about $49,000. Sterling Capital Management LLC increased its stake in shares of Four Corners Property Trust by 856.0% in the 4th quarter. Sterling Capital Management LLC now owns 3,040 shares of the financial services provider's stock worth $83,000 after acquiring an additional 2,722 shares in the last quarter. CWM LLC grew its position in Four Corners Property Trust by 15.0% during the 1st quarter. CWM LLC now owns 2,975 shares of the financial services provider's stock valued at $85,000 after purchasing an additional 389 shares during the last quarter. Finally, KBC Group NV grew its position in Four Corners Property Trust by 40.8% during the 1st quarter. KBC Group NV now owns 5,212 shares of the financial services provider's stock valued at $150,000 after purchasing an additional 1,510 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors.
Four Corners Property Trust Stock Performance
FCPT traded up $0.21 during midday trading on Friday, reaching $25.45. The company had a trading volume of 919,549 shares, compared to its average volume of 566,623. Four Corners Property Trust, Inc. has a 1 year low of $25.00 and a 1 year high of $30.93. The company has a quick ratio of 0.14, a current ratio of 0.12 and a debt-to-equity ratio of 0.39. The company has a market cap of $2.66 billion, a P/E ratio of 23.57 and a beta of 0.84. The business has a 50-day moving average of $26.96 and a two-hundred day moving average of $27.56.
Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. Four Corners Property Trust had a return on equity of 7.40% and a net margin of 37.87%. The firm had revenue of $72.84 million for the quarter, compared to analysts' expectations of $70.27 million. During the same period in the previous year, the firm earned $0.43 EPS. The business's quarterly revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts predict that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.
Four Corners Property Trust Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Monday, June 30th. Four Corners Property Trust's dividend payout ratio (DPR) is 131.48%.
Insider Transactions at Four Corners Property Trust
In related news, Director John S. Moody sold 7,667 shares of Four Corners Property Trust stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $27.42, for a total transaction of $210,229.14. Following the sale, the director owned 53,821 shares of the company's stock, valued at approximately $1,475,771.82. This trade represents a 12.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.20% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the stock. UBS Group decreased 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 report on Tuesday, May 13th. Raymond James Financial decreased their price target on Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating for the company in a research note on Thursday. Finally, Wells Fargo & Company dropped their price objective on Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, June 2nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $29.40.
Read Our Latest Research Report on Four Corners Property Trust
Four Corners Property Trust Profile
(
Free Report)
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.
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