Edgestream Partners L.P. Grows Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Edgestream Partners L.P. boosted its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 1,097.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 160,277 shares of the financial services provider's stock after purchasing an additional 146,897 shares during the quarter. Edgestream Partners L.P. owned about 0.16% of Four Corners Property Trust worth $4,600,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Four Corners Property Trust during the 4th quarter valued at $12,845,000. Amundi lifted its stake in Four Corners Property Trust by 5.3% during the 4th quarter. Amundi now owns 53,592 shares of the financial services provider's stock valued at $1,441,000 after acquiring an additional 2,679 shares in the last quarter. HighTower Advisors LLC lifted its stake in Four Corners Property Trust by 4.8% during the 4th quarter. HighTower Advisors LLC now owns 16,288 shares of the financial services provider's stock valued at $442,000 after acquiring an additional 750 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Four Corners Property Trust by 234.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 817 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its stake in Four Corners Property Trust by 1.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 43,434 shares of the financial services provider's stock valued at $1,179,000 after acquiring an additional 736 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Wells Fargo & Company lowered their target price on Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, June 2nd. UBS Group lowered their price objective on 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $29.40.

Insider Activity at Four Corners Property Trust

In related news, Director John S. Moody sold 7,667 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director owned 53,821 shares in the company, valued at $1,475,771.82. This represents a 12.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Four Corners Property Trust Price Performance

NYSE:FCPT traded up $0.04 during mid-day trading on Friday, reaching $26.32. The stock had a trading volume of 559,639 shares, compared to its average volume of 669,633. The firm has a 50 day moving average price of $27.17 and a two-hundred day moving average price of $27.60. The stock has a market capitalization of $2.64 billion, a P/E ratio of 24.60 and a beta of 0.84. Four Corners Property Trust, Inc. has a one year low of $25.01 and a one year high of $30.93. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.14 and a current ratio of 0.14.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. 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 return on equity of 7.46% and a net margin of 37.57%. The firm had revenue of $71.48 million during the quarter, compared to the consensus estimate of $67.17 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. The business's revenue was up 7.5% on a year-over-year basis. As a group, analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $0.355 per share. The ex-dividend date was Monday, June 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.40%. Four Corners Property Trust's dividend payout ratio is presently 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.