Rye Brook Capital LLC Reduces Stock Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

Rye Brook Capital LLC reduced its position in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 50.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 110,100 shares of the financial services provider's stock after selling 113,800 shares during the quarter. Four Corners Property Trust comprises about 4.0% of Rye Brook Capital LLC's holdings, making the stock its 10th biggest holding. Rye Brook Capital LLC owned 0.11% of Four Corners Property Trust worth $3,160,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of brokerages recently commented on FCPT. UBS Group decreased 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 objective on 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. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Four Corners Property Trust currently has an average rating of "Moderate Buy" and a consensus target price of $29.40.

Four Corners Property Trust Trading Up 0.3%

Four Corners Property Trust stock traded up $0.09 during trading hours on Tuesday, reaching $27.38. The stock had a trading volume of 760,781 shares, compared to its average volume of 695,386. The company has a fifty day simple moving average of $27.55 and a 200-day simple moving average of $27.80. Four Corners Property Trust, Inc. has a 52 week low of $24.14 and a 52 week high of $30.93. The stock has a market cap of $2.75 billion, a PE ratio of 25.59 and a beta of 0.86. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.11 and a quick ratio of 0.11.

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 for the quarter, topping the consensus estimate of $0.42 by $0.02. Four Corners Property Trust had a return on equity of 7.54% and a net margin of 37.48%. The business had revenue of $71.48 million during the quarter, compared to analysts' expectations of $67.17 million. During the same quarter last year, the business posted $0.43 EPS. The business's revenue was up 7.5% on a year-over-year basis. Analysts forecast that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date is Monday, June 30th. Four Corners Property Trust's payout ratio is 132.71%.

Insider Activity at Four Corners Property Trust

In other Four Corners Property Trust news, Director John S. Moody sold 7,667 shares of the firm's stock in a transaction dated 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 in the company, valued at $1,475,771.82. This trade represents a 12.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Niccole Stewart sold 9,100 shares of Four Corners Property Trust stock in a transaction that occurred 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 now directly owns 31,204 shares in the company, valued at approximately $851,245.12. The trade was a 22.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

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.