Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its stake in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 25.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,726 shares of the financial services provider's stock after selling 9,494 shares during the period. Teacher Retirement System of Texas' holdings in Four Corners Property Trust were worth $796,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in Four Corners Property Trust in the fourth quarter valued at $12,845,000. Amundi increased its holdings in Four Corners Property Trust by 5.3% in the fourth quarter. Amundi now owns 53,592 shares of the financial services provider's stock valued at $1,441,000 after buying an additional 2,679 shares during the last quarter. HighTower Advisors LLC increased its holdings in Four Corners Property Trust by 4.8% in the fourth quarter. HighTower Advisors LLC now owns 16,288 shares of the financial services provider's stock valued at $442,000 after buying an additional 750 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Four Corners Property Trust by 234.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the financial services provider's stock valued at $32,000 after buying an additional 817 shares during the last quarter. Finally, Avantax Advisory Services Inc. increased its holdings in Four Corners Property Trust by 1.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 43,434 shares of the financial services provider's stock valued at $1,179,000 after buying an additional 736 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John S. Moody sold 7,667 shares of Four Corners Property Trust stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $27.42, for a total transaction of $210,229.14. Following the completion of the sale, the director directly owned 53,821 shares in the company, valued at approximately $1,475,771.82. This trade represents a 12.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.20% of the company's stock.

Four Corners Property Trust Price Performance

Shares of FCPT opened at $26.91 on Tuesday. Four Corners Property Trust, Inc. has a fifty-two week low of $25.01 and a fifty-two week high of $30.93. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 25.15 and a beta of 0.84. The firm has a 50-day simple moving average of $27.30 and a 200-day simple moving average of $27.64. 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 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. The firm had revenue of $71.48 million during the quarter, compared to the consensus estimate of $67.17 million. Four Corners Property Trust had a net margin of 37.57% and a return on equity of 7.46%. The firm's revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.43 earnings per share. On average, equities research analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.355 per share. The ex-dividend date is Monday, June 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.28%. Four Corners Property Trust's payout ratio is 132.71%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FCPT shares. UBS Group dropped their target price on Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company dropped 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Four Corners Property Trust presently has an average rating of "Moderate Buy" and a consensus target price of $29.40.

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.

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