Hsbc Holdings PLC Has $4.95 Million Position in Four Corners Property Trust, Inc. $FCPT

Key Points

• Hsbc Holdings PLC increased its stake in Four Corners Property Trust by 150.3%, owning about 0.17% of the company, valued at approximately $4.95 million.
• Recent analyst ratings have varied, with target prices set between $29.00 and $31.00, reflecting a mix of "outperform" and "buy" ratings for the stock.
• Four Corners Property Trust reported earnings of $0.44 per share for the last quarter, exceeding expectations, and announced a quarterly dividend with a 5.5% yield.

Hsbc Holdings PLC lifted its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 150.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 172,649 shares of the financial services provider's stock after purchasing an additional 103,660 shares during the period. Hsbc Holdings PLC owned 0.17% of Four Corners Property Trust worth $4,953,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Four Corners Property Trust by 9.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,551 shares of the financial services provider's stock worth $274,000 after purchasing an additional 796 shares during the last quarter. KBC Group NV grew its holdings in shares of Four Corners Property Trust by 40.8% during the first quarter. KBC Group NV now owns 5,212 shares of the financial services provider's stock worth $150,000 after purchasing an additional 1,510 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Four Corners Property Trust by 23.6% during the first quarter. GAMMA Investing LLC now owns 6,457 shares of the financial services provider's stock worth $185,000 after purchasing an additional 1,231 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Four Corners Property Trust by 9.5% during the first quarter. Asset Management One Co. Ltd. now owns 275,185 shares of the financial services provider's stock worth $7,898,000 after purchasing an additional 23,884 shares during the last quarter. Finally, MQS Management LLC bought a new stake in shares of Four Corners Property Trust during the first quarter worth $1,332,000. Institutional investors own 98.66% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on FCPT. UBS Group raised their price target on Four Corners Property Trust from $30.00 to $31.00 and gave the company a "buy" rating in a report on Friday, August 15th. Barclays lowered their price objective on Four Corners Property Trust from $30.00 to $29.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 20th. Wells Fargo & Company lowered their price objective on Four Corners Property Trust from $30.00 to $29.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, Raymond James Financial lowered their price objective on Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $29.50.

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 transaction, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.20% of the company's stock.

Four Corners Property Trust Trading Up 0.9%

FCPT traded up $0.23 during midday trading on Friday, reaching $25.87. 565,843 shares of the company were exchanged, compared to its average volume of 522,865. The stock has a market capitalization of $2.70 billion, a P/E ratio of 23.95 and a beta of 0.83. Four Corners Property Trust, Inc. has a one year low of $25.00 and a one year high of $30.93. The stock's 50-day simple moving average is $26.26 and its 200 day simple moving average is $27.26. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.12 and a current ratio of 0.12.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. The company had revenue of $72.84 million during the quarter, compared to analyst estimates of $70.27 million. Four Corners Property Trust had a return on equity of 7.40% and a net margin of 37.87%.The company's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.43 EPS. As a group, analysts forecast that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Monday, June 30th. Four Corners Property Trust's payout ratio is presently 131.48%.

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.