Bridgeway Capital Management LLC Lowers Stock Position in Four Corners Property Trust, Inc. $FCPT

Key Points

• Bridgeway Capital Management LLC reduced its stake in Four Corners Property Trust by 11% during Q1, selling 25,000 shares and retaining 202,900 shares valued at approximately $5.8 million.
• Several analysts downgraded their price targets for Four Corners Property Trust, with a consensus price target of $29.50, reflecting mixed outlooks from institutions.
• The company recently announced a quarterly dividend of $0.355 per share, representing an annualized yield of 5.5%, with a payout ratio currently over 131%.

Bridgeway Capital Management LLC decreased its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 11.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 202,900 shares of the financial services provider's stock after selling 25,000 shares during the quarter. Bridgeway Capital Management LLC owned about 0.20% of Four Corners Property Trust worth $5,823,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. CWM LLC lifted its position 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 valued at $85,000 after purchasing an additional 389 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Four Corners Property Trust by 5.4% during the 4th 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. Palisades Investment Partners LLC boosted its position in shares of Four Corners Property Trust by 1.5% in the 1st quarter. Palisades Investment Partners LLC now owns 31,762 shares of the financial services provider's stock worth $912,000 after purchasing an additional 459 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in shares of Four Corners Property Trust by 4.0% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 12,988 shares of the financial services provider's stock worth $357,000 after purchasing an additional 504 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Four Corners Property Trust by 2.6% in the 4th quarter. Stifel Financial Corp now owns 23,976 shares of the financial services provider's stock worth $651,000 after purchasing an additional 606 shares in the last quarter. Institutional investors own 98.66% of the company's stock.

Four Corners Property Trust Stock Performance

Shares of FCPT stock traded down $0.23 during mid-day trading on Wednesday, hitting $25.78. 99,260 shares of the stock were exchanged, compared to its average volume of 682,589. The stock's fifty day simple moving average is $26.07 and its two-hundred day simple moving average is $27.17. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 23.89 and a beta of 0.86. Four Corners Property Trust, Inc. has a 12-month low of $25.00 and a 12-month high of $30.93. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.12 and a current ratio of 0.12.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.44 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $70.27 million. During the same quarter last year, the firm earned $0.43 earnings per share. The firm's revenue was up 9.6% compared to the same quarter last year. On average, analysts forecast that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FCPT. UBS Group lifted 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. Wells Fargo & Company lowered their target price on Four Corners Property Trust from $30.00 to $29.00 and set an "overweight" rating on the stock in a report on Wednesday, August 27th. Barclays lowered their target price on Four Corners Property Trust from $30.00 to $29.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 20th. Finally, Raymond James Financial decreased their price objective on Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $29.50.

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.