Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. cut its stake in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 345,290 shares of the financial services provider's stock after selling 22,840 shares during the period. Ameriprise Financial Inc. owned about 0.36% of Four Corners Property Trust worth $9,374,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its stake in Four Corners Property Trust by 234.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the financial services provider's stock valued at $32,000 after buying an additional 817 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Four Corners Property Trust by 165.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,379 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 860 shares during the period. VSM Wealth Advisory LLC acquired a new position in Four Corners Property Trust in the 4th quarter valued at about $39,000. Synergy Investment Management LLC purchased a new stake in Four Corners Property Trust in the 4th quarter valued at approximately $48,000. Finally, Quarry LP purchased a new stake in Four Corners Property Trust in the 4th quarter valued at approximately $49,000. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Four Corners Property Trust 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 sale, the chief accounting officer now owns 31,204 shares in the company, valued at approximately $851,245.12. This trade represents a 22.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by corporate insiders.

Four Corners Property Trust Stock Up 0.2%

NYSE:FCPT traded up $0.05 on Monday, reaching $27.05. The stock had a trading volume of 526,778 shares, compared to its average volume of 633,165. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average of $27.71 and a 200 day moving average of $27.95. The stock has a market cap of $2.72 billion, a P/E ratio of 25.28 and a beta of 0.86. Four Corners Property Trust, Inc. has a 12-month low of $23.70 and a 12-month high of $30.93.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.44 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 business had revenue of $71.48 million for the quarter, compared to analysts' expectations of $67.17 million. During the same quarter last year, the company posted $0.43 earnings per share. The company's quarterly revenue was up 7.5% compared to the same quarter last year. On average, research 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.355 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.42 dividend on an annualized basis and a yield of 5.25%. Four Corners Property Trust's dividend payout ratio is currently 132.71%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FCPT. UBS Group decreased their price target on Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company boosted their price target on Four Corners Property Trust from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Monday, March 10th. Barclays dropped their price objective on Four Corners Property Trust from $31.00 to $30.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $29.60.

About Four Corners Property Trust

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.