Bank of New York Mellon Corp Decreases Stock Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

Bank of New York Mellon Corp lowered its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 2.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in Four Corners Property Trust in the fourth quarter valued at approximately $12,845,000. Amundi lifted its holdings in Four Corners Property Trust by 5.3% in the fourth quarter. Amundi now owns 53,592 shares of the financial services provider's stock valued at $1,441,000 after buying an additional 2,679 shares during the period. HighTower Advisors LLC increased its stake in Four Corners Property Trust by 4.8% in the fourth quarter. HighTower Advisors LLC now owns 16,288 shares of the financial services provider's stock valued at $442,000 after purchasing an additional 750 shares in the last quarter. EverSource Wealth Advisors LLC increased 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 purchasing an additional 817 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its stake in Four Corners Property Trust by 1.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 43,434 shares of the financial services provider's stock valued at $1,179,000 after purchasing an additional 736 shares in the last quarter. Institutional investors own 98.66% of the company's stock.

Four Corners Property Trust Price Performance

Shares of Four Corners Property Trust stock traded up $0.04 during midday trading on Friday, hitting $26.32. 559,639 shares of the company traded hands, compared to its average volume of 671,031. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 24.60 and a beta of 0.84. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.14 and a current ratio of 0.14. The firm's fifty day moving average price is $27.17 and its 200-day moving average price is $27.60. Four Corners Property Trust, Inc. has a 12 month low of $25.01 and a 12 month high of $30.93.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its 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. The business had revenue of $71.48 million for the quarter, compared to the consensus estimate of $67.17 million. Four Corners Property Trust had a net margin of 37.57% and a return on equity of 7.46%. The firm's revenue was up 7.5% compared to the same quarter last year. During the same period last year, the company earned $0.43 EPS. As a group, sell-side analysts forecast 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 declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid 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 yield of 5.40%. Four Corners Property Trust's dividend payout ratio (DPR) is presently 132.71%.

Insider Buying and Selling

In related news, Director John S. Moody sold 7,667 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $27.42, for a total value of $210,229.14. Following the transaction, the director directly owned 53,821 shares of the company's stock, valued at approximately $1,475,771.82. The trade was a 12.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

FCPT has been the subject of several recent research reports. UBS Group reduced their target price on shares of Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. 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 for the company in a research note on Monday, June 2nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Four Corners Property Trust currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.40.

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.