Deutsche Bank AG Increases Position in Four Corners Property Trust, Inc. $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 boosted its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 13.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 720,943 shares of the financial services provider's stock after purchasing an additional 86,379 shares during the period. Deutsche Bank AG owned about 0.72% of Four Corners Property Trust worth $20,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FCPT. Charles Schwab Investment Management Inc. increased its holdings in Four Corners Property Trust by 3.0% in 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 buying an additional 48,937 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of 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 worth $323,602,000 after purchasing an additional 400,396 shares in the last quarter. Costello Asset Management INC purchased a new stake in shares of Four Corners Property Trust during the first quarter worth about $40,000. Natixis Advisors LLC increased its stake in shares of Four Corners Property Trust by 20.6% during the first quarter. Natixis Advisors LLC now owns 48,577 shares of the financial services provider's stock worth $1,394,000 after purchasing an additional 8,288 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Four Corners Property Trust by 7.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 108,674 shares of the financial services provider's stock worth $3,119,000 after purchasing an additional 7,966 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of analysts have recently commented on FCPT shares. Raymond James Financial cut their target price on shares of 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. UBS Group boosted their target price on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company a "buy" rating in a report on Friday. Finally, Wells Fargo & Company decreased their price objective on shares of Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating on the stock in a report on Monday, June 2nd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Four Corners Property Trust has an average rating of "Moderate Buy" and an average price target of $29.60.

Four Corners Property Trust Trading Down 0.2%

Shares of FCPT stock traded down $0.04 during trading hours on Monday, hitting $25.39. The company had a trading volume of 75,236 shares, compared to its average volume of 701,357. The company's fifty day moving average is $26.60 and its 200 day moving average is $27.41. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.12 and a quick 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 capitalization of $2.65 billion, a PE ratio of 23.51 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 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $72.84 million for the quarter, compared to analyst estimates of $70.27 million. During the same period in the prior year, the business posted $0.43 EPS. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. Research analysts expect 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 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 of this dividend 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.