Exchange Traded Concepts LLC Buys 31,369 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Exchange Traded Concepts LLC boosted its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 37.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 115,855 shares of the financial services provider's stock after buying an additional 31,369 shares during the period. Exchange Traded Concepts LLC owned approximately 0.12% of Four Corners Property Trust worth $3,325,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of FCPT. EverSource Wealth Advisors LLC boosted its position in shares of Four Corners Property Trust by 234.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the financial services provider's stock worth $32,000 after buying an additional 817 shares during the period. Smartleaf Asset Management LLC lifted its stake in Four Corners Property Trust by 165.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,379 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 860 shares in the last quarter. VSM Wealth Advisory LLC acquired a new position in Four Corners Property Trust during the 4th quarter worth approximately $39,000. GF Fund Management CO. LTD. acquired a new position in Four Corners Property Trust during the 4th quarter worth approximately $46,000. Finally, Synergy Investment Management LLC bought a new position in shares of Four Corners Property Trust during the 4th quarter worth approximately $48,000. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Four Corners Property Trust news, CAO Niccole Stewart sold 9,100 shares of the stock in a transaction on Tuesday, April 15th. The stock was 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 trade represents a 22.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John S. Moody sold 7,667 shares of Four Corners Property Trust stock in a transaction on Monday, June 9th. The stock was sold at an average price of $27.42, for a total value of $210,229.14. Following the sale, the director now directly owns 53,821 shares of the company's stock, valued at $1,475,771.82. This represents a 12.47% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.20% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on FCPT shares. UBS Group cut their price objective 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 cut their price target on shares of Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, June 2nd. 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 an average rating of "Moderate Buy" and an average price target of $29.40.

Four Corners Property Trust Stock Up 0.3%

Shares of NYSE:FCPT traded up $0.07 during midday trading on Friday, hitting $27.39. The stock had a trading volume of 877,823 shares, compared to its average volume of 657,994. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.40. The business's 50-day simple moving average is $27.57 and its 200-day simple moving average is $27.78. Four Corners Property Trust, Inc. has a 12 month low of $24.14 and a 12 month high of $30.93. The company has a market cap of $2.75 billion, a P/E ratio of 25.63 and a beta of 0.86.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. Four Corners Property Trust had a return on equity of 7.46% and a net margin of 37.57%. The firm had revenue of $71.48 million for the quarter, compared to analyst estimates of $67.17 million. During the same quarter in the prior year, the company earned $0.43 earnings per share. The business's revenue for the quarter was up 7.5% compared to the same quarter last year. On average, sell-side analysts forecast that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.18%. The ex-dividend date is Monday, June 30th. Four Corners Property Trust's dividend payout ratio is 132.71%.

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.