Charles Schwab Investment Management Inc. Boosts Stake 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. grew its position in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,661,915 shares of the financial services provider's stock after acquiring an additional 48,937 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.65% of Four Corners Property Trust worth $47,697,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Costello Asset Management INC purchased a new position in shares of Four Corners Property Trust in the first quarter valued at approximately $40,000. GF Fund Management CO. LTD. purchased a new stake in Four Corners Property Trust in the 4th quarter valued at $46,000. Quarry LP purchased a new stake in Four Corners Property Trust in the 4th quarter valued at $49,000. Sterling Capital Management LLC grew its holdings in Four Corners Property Trust by 856.0% in the 4th quarter. Sterling Capital Management LLC now owns 3,040 shares of the financial services provider's stock valued at $83,000 after buying an additional 2,722 shares in the last quarter. Finally, CWM LLC raised its position in Four Corners Property Trust by 15.0% in 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 period. Hedge funds and other institutional investors own 98.66% of the company's stock.

Insider Transactions at Four Corners Property Trust

In other Four Corners Property Trust news, Director John S. Moody sold 7,667 shares of Four Corners Property Trust stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $27.42, for a total transaction of $210,229.14. Following the completion of the sale, the director directly owned 53,821 shares of the company's stock, valued at $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 is available at this link. 1.20% of the stock is owned by company insiders.

Four Corners Property Trust Stock Down 0.5%

NYSE FCPT traded down $0.1330 during trading on Thursday, reaching $25.7770. 294,477 shares of the company's stock were exchanged, compared to its average volume of 598,106. The stock has a market cap of $2.69 billion, a P/E ratio of 23.87 and a beta of 0.83. 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 company has a 50 day moving average price of $26.44 and a two-hundred day moving average price of $27.35. Four Corners Property Trust, Inc. has a 1 year low of $25.00 and a 1 year high of $30.93.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. The company had revenue of $72.84 million during the quarter, compared to the consensus estimate of $70.27 million. Four Corners Property Trust had a return on equity of 7.40% and a net margin of 37.87%.Four Corners Property Trust's revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.43 EPS. On average, equities research analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal 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 dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend was Monday, June 30th. Four Corners Property Trust's payout ratio is 131.48%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FCPT. Wells Fargo & Company dropped their price objective 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 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. Raymond James Financial dropped their price objective 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. Finally, Barclays dropped their price objective 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. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Four Corners Property Trust currently has an average rating of "Moderate Buy" and an average price target of $29.40.

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.