Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 1.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,811,067 shares of the financial services provider's stock after selling 47,837 shares during the period. Victory Capital Management Inc. owned about 3.81% of Four Corners Property Trust worth $109,378,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its position in 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 acquiring an additional 817 shares during the last quarter. VSM Wealth Advisory LLC acquired a new position in Four Corners Property Trust in the 4th quarter valued at about $39,000. GF Fund Management CO. LTD. acquired a new position in Four Corners Property Trust in the 4th quarter valued at about $46,000. Quarry LP acquired a new position in Four Corners Property Trust in the 4th quarter valued at about $49,000. Finally, Sterling Capital Management LLC boosted its holdings in Four Corners Property Trust by 856.0% in the 4th quarter. Sterling Capital Management LLC now owns 3,040 shares of the financial services provider's stock valued at $83,000 after purchasing an additional 2,722 shares during the last quarter. Hedge funds and other institutional investors own 98.66% of the company's stock.

Insider Activity

In related news, Director John S. Moody sold 7,667 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $27.42, for a total transaction of $210,229.14. Following the transaction, the director directly owned 53,821 shares in the company, valued at approximately $1,475,771.82. This represents a 12.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Four Corners Property Trust Stock Performance

Four Corners Property Trust stock traded up $0.04 during midday trading on Friday, hitting $26.32. 559,639 shares of the company's stock were exchanged, compared to its average volume of 671,031. Four Corners Property Trust, Inc. has a 12-month low of $25.01 and a 12-month 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. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 24.60 and a beta of 0.84. The firm's 50 day simple moving average is $27.17 and its 200 day simple moving average is $27.61.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last released its earnings results on Wednesday, April 30th. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. Four Corners Property Trust had a net margin of 37.57% and a return on equity of 7.46%. The company 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 earned $0.43 EPS. The business's revenue was up 7.5% on a year-over-year basis. Equities research analysts predict 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 disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.355 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.42 annualized dividend and a dividend yield of 5.40%. Four Corners Property Trust's dividend payout ratio is currently 132.71%.

Wall Street Analyst Weigh In

FCPT has been the topic of a number of research analyst reports. Wells Fargo & Company reduced 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 note on Monday, June 2nd. UBS Group cut 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 note on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Four Corners Property Trust has a consensus rating of "Moderate Buy" and an average target price of $29.40.

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.