Four Corners Property Trust, Inc. $FCPT Shares Sold by Boston Trust Walden Corp

Key Points

• Boston Trust Walden Corp reduced its stake in Four Corners Property Trust by 2.3% in Q2, owning approximately 1.54% of the company valued at $41.5 million.
• Four Corners Property Trust reported an earnings per share (EPS) of $0.44, surpassing analysts' expectations, with a revenue increase of 9.6% year-over-year.
• The company announced a quarterly dividend of $0.355 per share, resulting in an annualized dividend yield of 5.9%, despite a high dividend payout ratio of 131.48%.

Boston Trust Walden Corp lowered its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,542,725 shares of the financial services provider's stock after selling 35,885 shares during the quarter. Boston Trust Walden Corp owned about 1.54% of Four Corners Property Trust worth $41,515,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of FCPT. Wealth Enhancement Advisory Services LLC increased its holdings in Four Corners Property Trust by 9.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,551 shares of the financial services provider's stock worth $274,000 after buying an additional 796 shares during the period. KBC Group NV increased its holdings in Four Corners Property Trust by 40.8% in the 1st quarter. KBC Group NV now owns 5,212 shares of the financial services provider's stock worth $150,000 after buying an additional 1,510 shares during the period. GAMMA Investing LLC increased its holdings in Four Corners Property Trust by 23.6% in the 1st quarter. GAMMA Investing LLC now owns 6,457 shares of the financial services provider's stock worth $185,000 after buying an additional 1,231 shares during the period. Asset Management One Co. Ltd. increased its holdings in Four Corners Property Trust by 9.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 275,185 shares of the financial services provider's stock worth $7,898,000 after buying an additional 23,884 shares during the period. Finally, Retirement Planning Co of New England Inc. acquired a new position in Four Corners Property Trust in the 1st quarter worth approximately $437,000. Institutional investors and hedge funds own 98.66% of the company's stock.

Four Corners Property Trust Price Performance

Shares of NYSE FCPT opened at $24.10 on Wednesday. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 22.31 and a beta of 0.87. Four Corners Property Trust, Inc. has a 12 month low of $23.64 and a 12 month high of $30.12. The firm's 50 day simple moving average is $25.18 and its 200-day simple moving average is $26.51. 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 (NYSE:FCPT - Get Free Report) last announced its earnings results on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. Four Corners Property Trust had a return on equity of 7.40% and a net margin of 37.87%.The firm had revenue of $72.84 million for the quarter, compared to analyst estimates of $70.27 million. During the same quarter last year, the firm posted $0.43 EPS. The business's revenue was up 9.6% on a year-over-year basis. Analysts expect that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.355 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.9%. Four Corners Property Trust's dividend payout ratio (DPR) is 131.48%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on FCPT shares. Wall Street Zen downgraded shares of Four Corners Property Trust from a "hold" rating to a "sell" rating in a report on Saturday. Barclays cut their price target 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, August 20th. UBS Group raised 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 note on Friday, August 15th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Four Corners Property Trust in a research note on Tuesday. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and set a $27.00 price objective (down previously from $29.00) on shares of Four Corners Property Trust in a research note on Thursday, September 11th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $29.00.

Insider Buying and Selling

In other news, CAO Niccole Stewart sold 3,950 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $25.30, for a total transaction of $99,935.00. Following the transaction, the chief accounting officer owned 27,502 shares in the company, valued at $695,800.60. This trade represents a 12.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William H. Lenehan bought 7,850 shares of the firm's stock in a transaction dated Friday, September 12th. The shares were acquired at an average price of $25.40 per share, for a total transaction of $199,390.00. Following the transaction, the chief executive officer directly owned 698,426 shares in the company, valued at approximately $17,740,020.40. This represents a 1.14% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company's stock.

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.

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