Four Corners Property Trust, Inc. $FCPT Shares Sold by William Blair Investment Management LLC

Key Points

• William Blair Investment Management LLC reduced its stake in Four Corners Property Trust by 7.6%, now owning approximately 1.23% of the company valued at about $33.25 million.
• Several institutional investors increased their positions in Four Corners Property Trust, with notable growth from CWM LLC at 15.0% and Meritage Portfolio Management at 4.3% in the second quarter.
• The company recently declared a quarterly dividend of $0.355 per share, marking a 5.8% dividend yield, while its dividend payout ratio stands at 131.48%.

William Blair Investment Management LLC decreased its stake in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 7.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,235,624 shares of the financial services provider's stock after selling 102,165 shares during the quarter. William Blair Investment Management LLC owned approximately 1.23% of Four Corners Property Trust worth $33,251,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Inspire Investing LLC grew its position in shares of Four Corners Property Trust by 2.2% in the second quarter. Inspire Investing LLC now owns 17,495 shares of the financial services provider's stock valued at $471,000 after purchasing an additional 383 shares during the period. CWM LLC grew its position in shares of Four Corners Property Trust by 15.0% in the first quarter. CWM LLC now owns 2,975 shares of the financial services provider's stock valued at $85,000 after purchasing an additional 389 shares during the period. Palisades Investment Partners LLC grew its position in shares of Four Corners Property Trust by 1.5% in the first quarter. Palisades Investment Partners LLC now owns 31,762 shares of the financial services provider's stock valued at $912,000 after purchasing an additional 459 shares during the period. Meritage Portfolio Management grew its position in shares of Four Corners Property Trust by 4.3% in the second quarter. Meritage Portfolio Management now owns 17,262 shares of the financial services provider's stock valued at $465,000 after purchasing an additional 714 shares during the period. Finally, Yousif Capital Management LLC grew its position in shares of Four Corners Property Trust by 2.0% in the second quarter. Yousif Capital Management LLC now owns 37,370 shares of the financial services provider's stock valued at $1,006,000 after purchasing an additional 716 shares during the period. Institutional investors and hedge funds own 98.66% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FCPT shares. Barclays decreased 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 research note on Wednesday, August 20th. Weiss Ratings reiterated a "hold (c)" rating on shares of Four Corners Property Trust in a report on Tuesday, October 14th. Raymond James Financial cut their price objective on shares of Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Wells Fargo & Company reiterated an "equal weight" rating and issued a $27.00 price objective (down previously from $29.00) on shares of Four Corners Property Trust in a report on Thursday, September 11th. Finally, Wall Street Zen upgraded shares of Four Corners Property Trust from a "sell" rating to a "hold" rating in a report on Sunday. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $29.00.

Insider Activity at Four Corners Property Trust

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

Four Corners Property Trust Stock Performance

Four Corners Property Trust stock opened at $24.40 on Friday. The firm has a 50 day simple moving average of $25.10 and a 200-day simple moving average of $26.42. Four Corners Property Trust, Inc. has a 1-year low of $23.64 and a 1-year high of $30.12. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 22.59 and a beta of 0.87.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share for the quarter, beating 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 business had revenue of $72.84 million during the quarter, compared to analysts' expectations of $70.27 million. During the same quarter in the prior year, the company posted $0.43 EPS. The business's revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts expect that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.355 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.42 annualized dividend and a dividend yield of 5.8%. Four Corners Property Trust's dividend payout ratio is 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.

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