Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Acquired by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. increased its position in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 9.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 275,185 shares of the financial services provider's stock after purchasing an additional 23,884 shares during the period. Asset Management One Co. Ltd. owned 0.28% of Four Corners Property Trust worth $7,898,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Four Corners Property Trust by 3,446.0% in the 1st quarter. GAMMA Investing LLC now owns 185,316 shares of the financial services provider's stock worth $5,319,000 after acquiring an additional 180,090 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Four Corners Property Trust by 1.3% in the fourth quarter. Bank of New York Mellon Corp now owns 891,425 shares of the financial services provider's stock worth $24,193,000 after purchasing an additional 11,131 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Four Corners Property Trust by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,612,978 shares of the financial services provider's stock worth $43,776,000 after purchasing an additional 94,903 shares during the period. Barclays PLC boosted its holdings in Four Corners Property Trust by 10.6% in the fourth quarter. Barclays PLC now owns 172,564 shares of the financial services provider's stock worth $4,682,000 after purchasing an additional 16,543 shares during the period. Finally, William Blair Investment Management LLC boosted its holdings in Four Corners Property Trust by 2.4% in the fourth quarter. William Blair Investment Management LLC now owns 1,399,446 shares of the financial services provider's stock worth $37,981,000 after purchasing an additional 33,450 shares during the period. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FCPT has been the subject of several research reports. Wells Fargo & Company decreased their price target on shares of Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, June 2nd. UBS Group decreased their target price on Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $29.40.

Four Corners Property Trust Stock Performance

Shares of FCPT opened at $27.16 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a fifty day moving average of $27.53 and a 200-day moving average of $27.71. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 25.39 and a beta of 0.86. Four Corners Property Trust, Inc. has a 1 year low of $24.22 and a 1 year high of $30.93.

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

Four Corners Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.355 per share. The ex-dividend date is Monday, June 30th. This represents a $1.42 annualized dividend and a dividend yield of 5.23%. Four Corners Property Trust's dividend payout ratio is presently 132.71%.

Insider Transactions at Four Corners Property Trust

In other news, Director John S. Moody sold 7,667 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 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 legal filing with the SEC, which is accessible through this link. Also, CAO Niccole Stewart sold 9,100 shares of the business's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $27.28, for a total value of $248,248.00. Following the completion of the sale, the chief accounting officer now directly owns 31,204 shares in the company, valued at $851,245.12. This represents a 22.58% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.