Bank of New York Mellon Corp Lowers Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Bank of New York Mellon Corp trimmed its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 873,974 shares of the financial services provider's stock after selling 17,451 shares during the quarter. Bank of New York Mellon Corp owned 0.87% of Four Corners Property Trust worth $25,083,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. 1620 Investment Advisors Inc. grew its stake in Four Corners Property Trust by 4.1% in the 4th quarter. 1620 Investment Advisors Inc. now owns 9,138 shares of the financial services provider's stock worth $248,000 after buying an additional 363 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Four Corners Property Trust by 5.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,755 shares of the financial services provider's stock worth $238,000 after acquiring an additional 450 shares in the last quarter. Mariner LLC increased its stake in Four Corners Property Trust by 2.8% in the fourth quarter. Mariner LLC now owns 17,098 shares of the financial services provider's stock valued at $464,000 after acquiring an additional 467 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its position in Four Corners Property Trust by 4.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 12,988 shares of the financial services provider's stock valued at $357,000 after purchasing an additional 504 shares in the last quarter. Finally, Signaturefd LLC raised its position in Four Corners Property Trust by 10.4% during the fourth quarter. Signaturefd LLC now owns 6,141 shares of the financial services provider's stock valued at $167,000 after purchasing an additional 579 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FCPT has been the subject of a number of research reports. Wells Fargo & Company cut their price objective on Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, June 2nd. UBS Group reduced their price target on shares of Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Three investment 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.com, Four Corners Property Trust presently has an average rating of "Moderate Buy" and an average price target of $29.40.

Four Corners Property Trust Trading Up 0.2%

Shares of NYSE FCPT traded up $0.04 during midday trading on Friday, reaching $26.32. The company had a trading volume of 559,497 shares, compared to its average volume of 668,456. The stock has a market cap of $2.64 billion, a PE ratio of 24.60 and a beta of 0.84. Four Corners Property Trust, Inc. has a one year low of $25.01 and a one year high of $30.93. The firm's fifty day moving average price is $27.20 and its 200-day moving average price is $27.61. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.40.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. 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 7.46% and a net margin of 37.57%. The firm had revenue of $71.48 million during the quarter, compared to analyst estimates of $67.17 million. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The business's quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 5.40%. The ex-dividend date was Monday, June 30th. Four Corners Property Trust's dividend payout ratio (DPR) is currently 132.71%.

Insider Buying and Selling at Four Corners Property Trust

In related news, Director John S. Moody sold 7,667 shares of the firm's stock in a transaction 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 sale, the director owned 53,821 shares of the company's stock, valued at $1,475,771.82. This trade represents a 12.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.20% of the company's stock.

Four Corners Property Trust 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.