Edgestream Partners L.P. Increases Stock Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

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

Several other large investors have also recently bought and sold shares of the stock. MQS Management LLC acquired a new stake in shares of Four Corners Property Trust during the first quarter worth $1,332,000. CWM LLC increased its position in Four Corners Property Trust by 15.0% during the first quarter. CWM LLC now owns 2,975 shares of the financial services provider's stock worth $85,000 after acquiring an additional 389 shares during the period. New York State Common Retirement Fund raised its stake in Four Corners Property Trust by 4.7% in the 1st quarter. New York State Common Retirement Fund now owns 41,943 shares of the financial services provider's stock worth $1,204,000 after purchasing an additional 1,900 shares in the last quarter. Arizona State Retirement System grew its position in Four Corners Property Trust by 3.2% in the first quarter. Arizona State Retirement System now owns 27,747 shares of the financial services provider's stock valued at $796,000 after acquiring an additional 854 shares during the last quarter. Finally, Xponance Inc. acquired a new position in Four Corners Property Trust during the first quarter worth about $208,000. 98.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director John S. Moody sold 7,667 shares of the business'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 sale, the director owned 53,821 shares in the company, valued at $1,475,771.82. The trade was a 12.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FCPT. 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 on the stock in a report on Monday, June 2nd. UBS Group lowered their price target on shares of Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Four Corners Property Trust currently has an average rating of "Moderate Buy" and an average price target of $29.40.

Four Corners Property Trust Trading Down 0.1%

NYSE FCPT traded down $0.03 on Thursday, reaching $26.33. The company had a trading volume of 357,989 shares, compared to its average volume of 666,543. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 24.60 and a beta of 0.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.14 and a quick ratio of 0.14. Four Corners Property Trust, Inc. has a fifty-two week low of $25.01 and a fifty-two week high of $30.93. The business has a 50 day moving average of $27.22 and a two-hundred day moving average of $27.62.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $71.48 million during the quarter, compared to the consensus estimate of $67.17 million. During the same period last year, the company earned $0.43 earnings per share. The firm's revenue was up 7.5% compared to the same quarter last year. Analysts forecast that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date was Monday, June 30th. Four Corners Property Trust's payout ratio is 132.71%.

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.