Four Corners Property Trust, Inc. $FCPT Shares Purchased by Aptus Capital Advisors LLC

Key Points

• Aptus Capital Advisors LLC increased its stake in Four Corners Property Trust by 12.7% in Q1, owning nearly 138,000 shares valued at approximately $3.96 million.
• Several institutional investors have also raised their positions, with Vanguard Group now holding over 11 million shares worth $323.6 million, indicating a strong interest in the stock among large funds.
• The company declared a quarterly dividend of $0.355 per share with an annualized yield of 5.5%, despite a high payout ratio of 131.48%.

Aptus Capital Advisors LLC boosted its stake in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 12.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 137,938 shares of the financial services provider's stock after buying an additional 15,544 shares during the period. Aptus Capital Advisors LLC owned approximately 0.14% of Four Corners Property Trust worth $3,959,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Costello Asset Management INC purchased a new stake in Four Corners Property Trust in the 1st quarter valued at about $40,000. GF Fund Management CO. LTD. purchased a new stake in Four Corners Property Trust during the fourth quarter worth about $46,000. Brooklyn Investment Group increased its stake in Four Corners Property Trust by 1,389.5% during the first quarter. Brooklyn Investment Group now owns 1,698 shares of the financial services provider's stock worth $49,000 after purchasing an additional 1,584 shares during the period. Quarry LP purchased a new stake in Four Corners Property Trust during the fourth quarter worth about $49,000. Finally, CWM LLC increased its stake in Four Corners Property Trust by 15.0% during the first quarter. CWM LLC now owns 2,975 shares of the financial services provider's stock worth $85,000 after purchasing an additional 389 shares during the period. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Four Corners Property Trust Stock Down 0.7%

Shares of FCPT stock traded down $0.18 during trading hours on Monday, reaching $25.87. 23,261 shares of the stock were exchanged, compared to its average volume of 691,995. The business's fifty day moving average is $26.41 and its two-hundred day moving average is $27.33. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.12 and a quick ratio of 0.12. Four Corners Property Trust, Inc. has a 12-month low of $25.00 and a 12-month high of $30.93. The firm has a market capitalization of $2.70 billion, a P/E ratio of 23.96 and a beta of 0.83.

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

Four Corners Property Trust Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Monday, June 30th. Four Corners Property Trust's dividend payout ratio is presently 131.48%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. UBS Group boosted their price target on shares of 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. Raymond James Financial cut their price target on shares of 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 cut their price target on shares of 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. Finally, Barclays cut their price target on shares of 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. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $29.40.

Insider Transactions at Four Corners Property Trust

In related news, Director John S. Moody sold 7,667 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $27.42, for a total value of $210,229.14. Following the completion of the transaction, the director directly owned 53,821 shares of the company's stock, valued at $1,475,771.82. This represents a 12.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by company insiders.

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.