Connor Clark & Lunn Investment Management Ltd. Has $5.37 Million Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Four Corners Property Trust by 30.3%, acquiring 43,499 shares, bringing its total ownership to 187,190 shares valued at approximately $5.37 million.
• The company reported earnings of $0.44 per share, exceeding expectations and marking a revenue increase of 9.6% year-over-year, with total revenue of $72.84 million for the quarter.
• Four Corners Property Trust announced a quarterly dividend of $0.355 per share, offering an annualized yield of 5.6%, despite a payout ratio of 131.48%.

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 30.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 187,190 shares of the financial services provider's stock after purchasing an additional 43,499 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.19% of Four Corners Property Trust worth $5,372,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Swiss National Bank raised its position in Four Corners Property Trust by 2.9% during the first quarter. Swiss National Bank now owns 187,407 shares of the financial services provider's stock valued at $5,379,000 after acquiring an additional 5,200 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Four Corners Property Trust by 7.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 67,906 shares of the financial services provider's stock valued at $1,949,000 after acquiring an additional 4,500 shares in the last quarter. Deutsche Bank AG raised its position in Four Corners Property Trust by 13.6% during the first quarter. Deutsche Bank AG now owns 720,943 shares of the financial services provider's stock valued at $20,691,000 after acquiring an additional 86,379 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Four Corners Property Trust by 3.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,661,915 shares of the financial services provider's stock valued at $47,697,000 after acquiring an additional 48,937 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Four Corners Property Trust by 3.7% during the first quarter. Vanguard Group Inc. now owns 11,275,334 shares of the financial services provider's stock valued at $323,602,000 after acquiring an additional 400,396 shares in the last quarter. Institutional investors own 98.66% of the company's stock.

Wall Street Analysts Forecast Growth

FCPT has been the topic of several recent research reports. UBS Group raised their price objective on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Friday. Raymond James Financial cut their price objective on shares of Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Finally, Wells Fargo & Company dropped their price target on shares of Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, June 2nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Four Corners Property Trust currently has an average rating of "Moderate Buy" and an average price target of $29.60.

Insider Buying and Selling

In related news, Director John S. Moody sold 7,667 shares of the company's stock in a transaction 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 completion of the transaction, the director directly owned 53,821 shares in the company, valued at $1,475,771.82. This represents a 12.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is currently owned by insiders.

Four Corners Property Trust Stock Performance

Shares of Four Corners Property Trust stock traded up $0.05 on Friday, reaching $25.43. The stock had a trading volume of 440,556 shares, compared to its average volume of 636,080. The business's 50-day moving average price is $26.60 and its two-hundred day moving average price is $27.41. 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, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $30.93. The stock has a market cap of $2.66 billion, a P/E ratio of 23.55 and a beta of 0.83.

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

Four Corners Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.6%. The ex-dividend date was Monday, June 30th. Four Corners Property Trust's dividend payout ratio is presently 131.48%.

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.