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

Victory Capital Management Inc. cut its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 1.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 approximately 3.81% of Four Corners Property Trust worth $109,378,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FCPT. EverSource Wealth Advisors LLC lifted its position in shares of 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 purchasing an additional 817 shares in the last quarter. VSM Wealth Advisory LLC acquired a new stake in Four Corners Property Trust in the fourth quarter valued at approximately $39,000. GF Fund Management CO. LTD. acquired a new stake in Four Corners Property Trust in the fourth quarter valued at approximately $46,000. Quarry LP acquired a new stake in Four Corners Property Trust in the fourth quarter valued at approximately $49,000. Finally, CWM LLC raised its holdings in Four Corners Property Trust by 15.0% in the first quarter. CWM LLC now owns 2,975 shares of the financial services provider's stock valued at $85,000 after acquiring an additional 389 shares in the last quarter. 98.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. UBS Group reduced 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 report on Tuesday, May 13th. Wells Fargo & Company dropped 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. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $29.40.

Four Corners Property Trust Price Performance

FCPT stock traded up $0.04 during trading on Friday, hitting $26.32. The stock had a trading volume of 559,639 shares, compared to its average volume of 669,633. The company's 50 day moving average price is $27.17 and its two-hundred day moving average price is $27.60. Four Corners Property Trust, Inc. has a 1-year low of $25.01 and a 1-year high of $30.93. 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 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 earnings results 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. 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 for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.43 EPS. On average, sell-side analysts forecast that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date of this dividend was Monday, June 30th. Four Corners Property Trust's payout ratio is currently 132.71%.

Insider Activity

In other news, Director John S. Moody sold 7,667 shares of the business's 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 completion of the sale, the director owned 53,821 shares in the company, valued at approximately $1,475,771.82. The trade was a 12.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.20% of the company's stock.

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.