AlphaQuest LLC Increases Stock Holdings in Four Corners Property Trust, Inc. $FCPT

Key Points

• AlphaQuest LLC has increased its stake in Four Corners Property Trust, Inc. by 79.6%, now owning approximately $1.44 million worth of shares after acquiring an additional 22,196 shares during the first quarter.
• The company reported a quarterly EPS of $0.44, exceeding analyst expectations, with a revenue of $72.84 million, which is a 9.6% increase year-over-year.
• FCPT declared a quarterly dividend of $0.355, translating to an annualized dividend of $1.42 and a yield of 5.5%, despite a high dividend payout ratio of 131.48%.

AlphaQuest LLC lifted its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 79.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,083 shares of the financial services provider's stock after acquiring an additional 22,196 shares during the period. AlphaQuest LLC's holdings in Four Corners Property Trust were worth $1,437,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Four Corners Property Trust by 9.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,551 shares of the financial services provider's stock valued at $274,000 after acquiring an additional 796 shares during the last quarter. KBC Group NV boosted its stake in Four Corners Property Trust by 40.8% in the 1st quarter. KBC Group NV now owns 5,212 shares of the financial services provider's stock worth $150,000 after buying an additional 1,510 shares during the last quarter. GAMMA Investing LLC boosted its stake in Four Corners Property Trust by 23.6% in the 1st quarter. GAMMA Investing LLC now owns 6,457 shares of the financial services provider's stock worth $185,000 after buying an additional 1,231 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in Four Corners Property Trust by 9.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 275,185 shares of the financial services provider's stock worth $7,898,000 after buying an additional 23,884 shares during the last quarter. Finally, Barclays PLC boosted its stake in Four Corners Property Trust by 10.6% in the 4th quarter. Barclays PLC now owns 172,564 shares of the financial services provider's stock worth $4,682,000 after buying an additional 16,543 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Raymond James Financial decreased their price target on Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Wells Fargo & Company decreased their price target on Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, June 2nd. Barclays decreased their price target on Four Corners Property Trust from $30.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 20th. Finally, UBS Group raised their price target on Four Corners Property Trust from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $29.40.

Four Corners Property Trust Trading Down 1.5%

Shares of NYSE FCPT traded down $0.3970 during midday trading on Monday, hitting $25.6530. The stock had a trading volume of 297,906 shares, compared to its average volume of 594,288. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 23.75 and a beta of 0.83. 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 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.39. The company has a fifty day moving average price of $26.38 and a 200 day moving average price of $27.32.

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

Four Corners Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Monday, June 30th. Four Corners Property Trust's dividend payout ratio (DPR) is presently 131.48%.

Insider Activity at Four Corners Property Trust

In related news, Director John S. Moody sold 7,667 shares of the firm's stock in a transaction dated 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 directly owned 53,821 shares in the company, valued at approximately $1,475,771.82. This trade represents a 12.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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.