Four Corners Property Trust, Inc. (NYSE:FCPT) Holdings Reduced by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 10.3% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 480,280 shares of the financial services provider's stock after selling 54,888 shares during the quarter. Envestnet Asset Management Inc. owned about 0.48% of Four Corners Property Trust worth $13,784,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Four Corners Property Trust by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 10,874,938 shares of the financial services provider's stock valued at $295,146,000 after buying an additional 240,230 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Four Corners Property Trust by 2.9% during the 4th quarter. Invesco Ltd. now owns 3,072,755 shares of the financial services provider's stock worth $83,395,000 after purchasing an additional 85,476 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Four Corners Property Trust by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 2,455,295 shares of the financial services provider's stock worth $66,651,000 after purchasing an additional 98,120 shares during the last quarter. Capital International Investors boosted its holdings 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 purchasing an additional 459,542 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Four Corners Property Trust by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,843,627 shares of the financial services provider's stock worth $52,912,000 after purchasing an additional 21,205 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FCPT. UBS Group cut their price objective on Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Wells Fargo & Company lowered 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 report on Monday, June 2nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.40.

Four Corners Property Trust Stock Performance

Shares of FCPT traded up $0.04 during mid-day trading on Friday, hitting $26.32. 559,639 shares of the company's stock were exchanged, compared to its average volume of 671,031. Four Corners Property Trust, Inc. has a fifty-two week low of $25.01 and a fifty-two week high of $30.93. The firm has a market capitalization of $2.64 billion, a P/E ratio of 24.60 and a beta of 0.84. The business's 50 day moving average is $27.17 and its two-hundred day moving average is $27.60. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.40.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. The firm had revenue of $71.48 million during the quarter, compared to the consensus estimate of $67.17 million. Four Corners Property Trust had a return on equity of 7.46% and a net margin of 37.57%. The company's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 EPS. On average, equities analysts expect that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $0.355 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.42 annualized dividend and a dividend yield of 5.40%. Four Corners Property Trust's dividend payout ratio is presently 132.71%.

Insider Activity

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 sale, the director directly owned 53,821 shares of the company's stock, valued at approximately $1,475,771.82. This represents a 12.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is owned by corporate insiders.

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.