GAMMA Investing LLC Grows Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

GAMMA Investing LLC increased its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 3,446.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,316 shares of the financial services provider's stock after purchasing an additional 180,090 shares during the period. GAMMA Investing LLC owned approximately 0.19% of Four Corners Property Trust worth $5,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in FCPT. Zimmer Partners LP purchased a new position in shares of Four Corners Property Trust during the fourth quarter worth $38,512,000. Balyasny Asset Management L.P. acquired a new stake in shares of Four Corners Property Trust in the fourth quarter valued at about $18,084,000. Raymond James Financial Inc. acquired a new stake in shares of Four Corners Property Trust in the fourth quarter valued at about $12,845,000. Capital International Investors grew its position in shares of Four Corners Property Trust by 25.4% in the fourth quarter. Capital International Investors now owns 2,267,422 shares of the financial services provider's stock valued at $61,538,000 after purchasing an additional 459,542 shares during the period. Finally, Marshall Wace LLP grew its position in shares of Four Corners Property Trust by 33.6% in the fourth quarter. Marshall Wace LLP now owns 1,631,150 shares of the financial services provider's stock valued at $44,269,000 after purchasing an additional 410,458 shares during the period. Hedge funds and other institutional investors own 98.66% of the company's stock.

Insiders Place Their Bets

In other news, CAO Niccole Stewart sold 9,100 shares of the company's stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 31,204 shares in the company, valued at approximately $851,245.12. This represents a 22.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John S. Moody sold 7,667 shares of the company's stock in a transaction 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 transaction, the director now owns 53,821 shares of the company's stock, valued at approximately $1,475,771.82. The trade was a 12.47% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

Four Corners Property Trust Stock Down 1.1%

NYSE FCPT traded down $0.31 on Friday, hitting $27.37. 448,929 shares of the stock were exchanged, compared to its average volume of 641,128. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.36. Four Corners Property Trust, Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $30.93. The company has a market cap of $2.75 billion, a PE ratio of 25.58 and a beta of 0.86. The company has a 50-day moving average price of $27.52 and a 200-day moving average price of $27.84.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its quarterly 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 37.48% and a return on equity of 7.54%. The company had revenue of $71.48 million during the quarter, compared to analysts' expectations of $67.17 million. During the same quarter in the previous year, the business posted $0.43 EPS. The firm's revenue was up 7.5% on a year-over-year basis. Sell-side analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.19%. The ex-dividend date is Monday, June 30th. Four Corners Property Trust's dividend payout ratio (DPR) is presently 132.71%.

Analysts Set New Price Targets

FCPT has been the topic of several research reports. UBS Group decreased their price target 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. 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. Finally, JMP Securities reissued a "market perform" rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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.