Four Corners Property Trust, Inc. $FCPT Shares Acquired by Cbre Investment Management Listed Real Assets LLC

Key Points

• Cbre Investment Management Listed Real Assets LLC increased its stake in Four Corners Property Trust by 63.1%, owning approximately $38.54 million worth of shares after purchasing an additional 519,633 shares.
• Four Corners Property Trust reported earnings per share of $0.44 for its last quarter, exceeding analyst expectations and achieving a 9.6% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.355, translating to an annualized dividend of $1.42 and a yield of 5.5%, with a payout ratio of 131.48%.

Cbre Investment Management Listed Real Assets LLC lifted its stake in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 63.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,342,834 shares of the financial services provider's stock after buying an additional 519,633 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned about 1.34% of Four Corners Property Trust worth $38,539,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Costello Asset Management INC purchased a new position in shares of Four Corners Property Trust during the 1st quarter valued at $40,000. GF Fund Management CO. LTD. purchased a new stake in shares of Four Corners Property Trust during the fourth quarter worth about $46,000. Quarry LP purchased a new position in Four Corners Property Trust in the 4th quarter worth approximately $49,000. Brooklyn Investment Group boosted its stake in Four Corners Property Trust by 1,389.5% in the 1st 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. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Four Corners Property Trust during the 1st quarter valued at approximately $77,000. Institutional investors own 98.66% of the company's stock.

Four Corners Property Trust Trading Down 1.5%

Shares of FCPT traded down $0.3970 during mid-day trading on Monday, reaching $25.6530. 297,906 shares of the company's stock traded hands, compared to its average volume of 594,288. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.12 and a quick ratio of 0.12. The stock's 50-day moving average is $26.38 and its two-hundred day moving average is $27.32. Four Corners Property Trust, Inc. has a 12 month low of $25.00 and a 12 month high of $30.93. The stock has a market cap of $2.68 billion, a P/E ratio of 23.75 and a beta of 0.83.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued 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 net margin of 37.87% and a return on equity of 7.40%. The business had revenue of $72.84 million for the quarter, compared to the consensus estimate of $70.27 million. During the same period in the prior year, the firm earned $0.43 EPS. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. Research analysts forecast that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend was Monday, June 30th. Four Corners Property Trust's dividend payout ratio is presently 131.48%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on FCPT shares. Barclays dropped their target price on shares of Four Corners Property Trust from $30.00 to $29.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 20th. UBS Group boosted their target price on Four Corners Property Trust from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Wells Fargo & Company dropped their price target on 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. 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 analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Four Corners Property Trust presently has an average rating of "Moderate Buy" and an average target price of $29.40.

Insider Activity

In related news, Director John S. Moody sold 7,667 shares of Four Corners Property Trust stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $27.42, for a total transaction of $210,229.14. Following the transaction, the director directly 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 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.