Asset Management One Co. Ltd. Buys 23,884 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Asset Management One Co. Ltd. lifted its stake 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 Securities and Exchange Commission (SEC). The institutional investor owned 275,185 shares of the financial services provider's stock after purchasing an additional 23,884 shares during the quarter. Asset Management One Co. Ltd. owned 0.28% of Four Corners Property Trust worth $7,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Four Corners Property Trust by 3,446.0% in the first quarter. GAMMA Investing LLC now owns 185,316 shares of the financial services provider's stock worth $5,319,000 after buying an additional 180,090 shares during the last quarter. Bank of New York Mellon Corp grew its position 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 acquiring an additional 11,131 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Four Corners Property Trust by 6.3% during the 4th 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 last quarter. Barclays PLC increased its stake in shares of Four Corners Property Trust by 10.6% during the 4th 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 last quarter. Finally, William Blair Investment Management LLC raised its holdings in shares of Four Corners Property Trust by 2.4% during the 4th quarter. William Blair Investment Management LLC now owns 1,399,446 shares of the financial services provider's stock valued at $37,981,000 after purchasing an additional 33,450 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Performance

Shares of NYSE FCPT traded up $0.28 during trading hours on Tuesday, hitting $27.19. 575,227 shares of the stock were exchanged, compared to its average volume of 665,306. Four Corners Property Trust, Inc. has a one year low of $24.42 and a one year high of $30.93. The company's 50 day moving average is $27.47 and its 200 day moving average is $27.67. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a market capitalization of $2.73 billion, a P/E ratio of 25.41 and a beta of 0.84.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last released its earnings results on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share for the quarter, topping 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%. The business's revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 EPS. On average, research analysts expect that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.355 per share. The ex-dividend date is Monday, June 30th. This represents a $1.42 annualized dividend and a yield of 5.22%. Four Corners Property Trust's payout ratio is 132.71%.

Insider Activity at Four Corners Property Trust

In other news, CAO Niccole Stewart sold 9,100 shares of the firm's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $27.28, for a total value of $248,248.00. Following the sale, the chief accounting officer owned 31,204 shares in the company, valued at approximately $851,245.12. This trade represents a 22.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John S. Moody sold 7,667 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $27.42, for a total transaction of $210,229.14. Following the transaction, the director directly owned 53,821 shares in the company, valued at $1,475,771.82. This trade represents a 12.47% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.