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 raised its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 12.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & 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 about 0.14% of Four Corners Property Trust worth $3,959,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Four Corners Property Trust by 9.1% in 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 in the last quarter. KBC Group NV raised its stake in shares of Four Corners Property Trust by 40.8% in the first quarter. KBC Group NV now owns 5,212 shares of the financial services provider's stock valued at $150,000 after acquiring an additional 1,510 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Four Corners Property Trust by 23.6% in the first quarter. GAMMA Investing LLC now owns 6,457 shares of the financial services provider's stock valued at $185,000 after acquiring an additional 1,231 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Four Corners Property Trust by 9.5% in the first quarter. Asset Management One Co. Ltd. now owns 275,185 shares of the financial services provider's stock valued at $7,898,000 after acquiring an additional 23,884 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Four Corners Property Trust by 10.6% in the fourth quarter. Barclays PLC now owns 172,564 shares of the financial services provider's stock valued at $4,682,000 after acquiring an additional 16,543 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FCPT has been the topic of several analyst reports. Wells Fargo & Company reduced 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 note on Monday, June 2nd. UBS Group increased their price objective on Four Corners Property Trust from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Raymond James Financial reduced their price objective 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. Finally, Barclays cut 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. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Four Corners Property Trust presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.40.

Insider Activity at Four Corners Property Trust

In related news, Director John S. Moody sold 7,667 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $27.42, for a total value of $210,229.14. Following the transaction, the director owned 53,821 shares in the company, valued at $1,475,771.82. The trade was a 12.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.20% of the company's stock.

Four Corners Property Trust Stock Performance

Shares of FCPT traded up $0.2320 during midday trading on Friday, reaching $26.0120. 464,326 shares of the stock were exchanged, compared to its average volume of 590,216. The business's 50-day moving average price is $26.41 and its 200 day moving average price is $27.34. 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 twelve month low of $25.00 and a twelve month high of $30.93. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 24.09 and a beta of 0.83.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $0.44 EPS for the quarter, topping 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 business had revenue of $72.84 million for the quarter, compared to analysts' expectations of $70.27 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The business's revenue was up 9.6% compared to the same quarter last year. On average, sell-side 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. Stockholders of record on Monday, June 30th were given a dividend of $0.355 per share. The ex-dividend date was Monday, June 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.5%. Four Corners Property Trust's payout ratio is 131.48%.

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.