Charles Schwab Investment Management Inc. Grows Position in Four Corners Property Trust, Inc. $FCPT

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Four Corners Property Trust by 3% in the first quarter, owning 1,661,915 shares valued at approximately $47.7 million.
• The company announced a quarterly dividend of $0.355 per share, reflecting a 5.6% dividend yield, with a payout ratio of 131.48%.
• Analysts have a consensus rating of "Moderate Buy" for FCPT, with price targets ranging from $29.00 to $31.00.

Charles Schwab Investment Management Inc. raised its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 3.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,661,915 shares of the financial services provider's stock after purchasing an additional 48,937 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.65% of Four Corners Property Trust worth $47,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of FCPT. Zimmer Partners LP bought a new position in Four Corners Property Trust in the 4th quarter valued at $38,512,000. Massachusetts Financial Services Co. MA bought a new position in Four Corners Property Trust in the 1st quarter valued at $33,515,000. Balyasny Asset Management L.P. bought a new position in Four Corners Property Trust in the 4th quarter valued at $18,084,000. Capital International Investors grew its stake in shares of Four Corners Property Trust by 25.4% during the 4th quarter. Capital International Investors now owns 2,267,422 shares of the financial services provider's stock worth $61,538,000 after acquiring an additional 459,542 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Four Corners Property Trust by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 11,275,334 shares of the financial services provider's stock worth $323,602,000 after acquiring an additional 400,396 shares during the period. Institutional investors own 98.66% of the company's stock.

Insider Buying and Selling at Four Corners Property Trust

In other Four Corners Property Trust news, Director John S. Moody sold 7,667 shares of the firm'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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FCPT shares. Wells Fargo & Company cut 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. UBS Group increased their price target on Four Corners Property Trust from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Barclays cut their price target on Four Corners Property Trust from $30.00 to $29.00 and set an "equal weight" rating for the company in a research note on Wednesday. Finally, Raymond James Financial cut their price target on Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $29.40.

Four Corners Property Trust Price Performance

NYSE FCPT traded up $0.25 during trading hours on Wednesday, hitting $25.91. The company had a trading volume of 81,236 shares, compared to its average volume of 697,606. Four Corners Property Trust, Inc. has a 52 week low of $25.00 and a 52 week high of $30.93. The firm has a 50 day simple moving average of $26.51 and a 200 day simple moving average of $27.38. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 24.01 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 the consensus estimate 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 during the quarter, compared to the consensus estimate of $70.27 million. During the same quarter last year, the company earned $0.43 EPS. The firm's revenue was up 9.6% compared to the same quarter last year. Equities research analysts expect 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 issued a $0.355 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.42 annualized dividend and a dividend yield of 5.5%. Four Corners Property Trust's dividend payout ratio (DPR) is presently 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.