Deutsche Bank AG Increases Stock Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

Key Points

• Deutsche Bank AG boosted its holdings in Four Corners Property Trust by 13.6% in Q1, acquiring an additional 86,379 shares, resulting in a total ownership of 720,943 shares worth approximately $20.69 million.
• Four Corners Property Trust recently announced a quarterly dividend of $0.355 per share, yielding 5.6% annually, although its dividend payout ratio stands at 131.48%.
• Research firms have lowered target prices for Four Corners Property Trust, with current analyst ratings showing a consensus recommendation of "Moderate Buy" and an average target price of $29.40.

Deutsche Bank AG grew its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 13.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 720,943 shares of the financial services provider's stock after buying an additional 86,379 shares during the period. Deutsche Bank AG owned 0.72% of Four Corners Property Trust worth $20,691,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Costello Asset Management INC bought a new stake in shares of Four Corners Property Trust during the first quarter valued at about $40,000. GF Fund Management CO. LTD. bought a new stake in shares of Four Corners Property Trust during the fourth quarter valued at about $46,000. Quarry LP bought a new stake in shares of Four Corners Property Trust during the fourth quarter valued at about $49,000. Sterling Capital Management LLC increased its position in shares of Four Corners Property Trust by 856.0% during the fourth 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 during the period. Finally, CWM LLC increased its position in shares of 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 buying an additional 389 shares during the period. 98.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on FCPT. Wells Fargo & Company decreased their price target on 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. Raymond James Financial decreased 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, UBS Group upped their price objective on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $29.60.

Insider Buying and Selling

In other Four Corners Property Trust news, Director John S. Moody sold 7,667 shares of the 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 in the company, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by insiders.

Four Corners Property Trust Price Performance

Shares of FCPT stock traded up $0.05 during trading on Friday, hitting $25.43. The company had a trading volume of 440,556 shares, compared to its average volume of 636,080. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.39. The stock's 50-day moving average is $26.60 and its two-hundred day moving average is $27.41. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 23.55 and a beta of 0.83. Four Corners Property Trust, Inc. has a 52 week low of $25.00 and a 52 week high of $30.93.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $72.84 million for the quarter, compared to analysts' expectations of $70.27 million. During the same period last year, the business earned $0.43 earnings per share. The business's quarterly revenue was up 9.6% on a year-over-year basis. As a group, analysts predict 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 given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date was Monday, June 30th. 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.