Four Corners Property Trust, Inc. $FCPT Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,275,334 shares of the financial services provider's stock after acquiring an additional 400,396 shares during the quarter. Vanguard Group Inc. owned about 11.22% of Four Corners Property Trust worth $323,602,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Costello Asset Management INC acquired a new position in shares of Four Corners Property Trust during the first quarter valued at about $40,000. GF Fund Management CO. LTD. acquired a new position in shares of Four Corners Property Trust during the fourth quarter valued at about $46,000. Quarry LP acquired a new position in shares of Four Corners Property Trust during the fourth quarter valued at about $49,000. Sterling Capital Management LLC increased its holdings 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 acquiring an additional 2,722 shares in the last quarter. Finally, CWM LLC increased its holdings 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 acquiring an additional 389 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company's stock.

Four Corners Property Trust Stock Performance

NYSE FCPT traded up $0.2320 during trading hours on Friday, reaching $26.0120. The stock had a trading volume of 464,326 shares, compared to its average volume of 590,216. 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 52-week low of $25.00 and a 52-week high of $30.93. The stock has a fifty day moving average of $26.41 and a 200 day moving average of $27.34. The stock has a market cap of $2.72 billion, a P/E ratio of 24.09 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 analysts' consensus estimates of $0.42 by $0.02. The business had revenue of $72.84 million for the quarter, compared to analysts' expectations of $70.27 million. Four Corners Property Trust had a net margin of 37.87% and a return on equity of 7.40%. The business's revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the company earned $0.43 EPS. Sell-side analysts predict that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 5.5%. Four Corners Property Trust's dividend payout ratio (DPR) is presently 131.48%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FCPT shares. Barclays cut their price objective on shares of Four Corners Property Trust from $30.00 to $29.00 and set an "equal weight" rating on the stock in a report on Wednesday. Wells Fargo & Company dropped their target price 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 dropped their target price on 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 target price on Four Corners Property Trust from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $29.40.

Insider Activity at Four Corners Property Trust

In related news, Director John S. Moody sold 7,667 shares of Four Corners Property Trust stock in a transaction on Monday, June 9th. The shares were sold at an average price of $27.42, for a total value of $210,229.14. Following the sale, the director owned 53,821 shares of the company's stock, valued at approximately $1,475,771.82. This trade represents a 12.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by insiders.

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.