Vident Advisory LLC Trims Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Vident Advisory LLC lessened its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 37.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 142,470 shares of the financial services provider's stock after selling 84,226 shares during the quarter. Vident Advisory LLC owned about 0.15% of Four Corners Property Trust worth $3,867,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of FCPT. Balyasny Asset Management L.P. purchased a new stake in Four Corners Property Trust in the fourth quarter worth about $18,084,000. Raymond James Financial Inc. purchased a new stake in Four Corners Property Trust in the fourth quarter worth about $12,845,000. Capital International Investors grew its holdings in Four Corners Property Trust by 25.4% in the fourth 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 period. Marshall Wace LLP grew its holdings in Four Corners Property Trust by 33.6% in the fourth quarter. Marshall Wace LLP now owns 1,631,150 shares of the financial services provider's stock worth $44,269,000 after purchasing an additional 410,458 shares during the period. Finally, Northern Trust Corp grew its holdings in Four Corners Property Trust by 40.7% in the fourth quarter. Northern Trust Corp now owns 1,330,086 shares of the financial services provider's stock worth $36,099,000 after purchasing an additional 385,013 shares during the period. Hedge funds and other institutional investors own 98.66% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JMP Securities restated a "market perform" rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Wells Fargo & Company upped their target price on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the stock an "overweight" rating in a research note on Monday, March 10th. Barclays dropped their target price on shares of Four Corners Property Trust from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Finally, UBS Group dropped their target price on shares of Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Four Corners Property Trust has a consensus rating of "Moderate Buy" and a consensus target price of $29.60.

Insider Activity at Four Corners Property Trust

In related news, CAO Niccole Stewart sold 9,100 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $27.28, for a total transaction of $248,248.00. Following the transaction, the chief accounting officer now owns 31,204 shares in the company, valued at $851,245.12. This represents a 22.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by insiders.

Four Corners Property Trust Stock Up 0.2%

Shares of NYSE FCPT traded up $0.05 during midday trading on Friday, hitting $27.05. The stock had a trading volume of 526,778 shares, compared to its average volume of 631,456. The business's 50 day moving average is $27.73 and its 200-day moving average is $27.95. The company has a market cap of $2.72 billion, a P/E ratio of 25.28 and a beta of 0.86. Four Corners Property Trust, Inc. has a 52 week low of $23.70 and a 52 week high of $30.93. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.36.

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 for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. The company had revenue of $71.48 million for the quarter, compared to the consensus estimate of $67.17 million. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. The firm's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.43 earnings per share. As a group, analysts predict that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.355 per share. The ex-dividend date was Monday, March 31st. This represents a $1.42 dividend on an annualized basis and a yield of 5.25%. Four Corners Property Trust's dividend payout ratio (DPR) is 132.71%.

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.