Invesco Ltd. Sells 138,247 Shares of Four Corners Property Trust, Inc. $FCPT

Key Points

• Invesco Ltd. has reduced its stake in Four Corners Property Trust, Inc. by 4.5%, holding approximately $84.22 million worth of shares as of its latest SEC filing.
• Analyst ratings for Four Corners Property Trust are mixed, with a consensus target price of $29.60 and ratings ranging from "buy" to "hold" from various research firms.
• The company recently declared a quarterly dividend of $0.355 per share, representing a yield of 5.6% and a dividend payout ratio of 131.48%.

Invesco Ltd. lessened its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 4.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,934,508 shares of the financial services provider's stock after selling 138,247 shares during the quarter. Invesco Ltd. owned 2.92% of Four Corners Property Trust worth $84,220,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of FCPT. Costello Asset Management INC acquired a new position in shares of Four Corners Property Trust in the first quarter valued at about $40,000. GF Fund Management CO. LTD. acquired a new stake in Four Corners Property Trust during the 4th quarter valued at approximately $46,000. Quarry LP acquired a new stake in shares of Four Corners Property Trust during the 4th quarter worth approximately $49,000. Sterling Capital Management LLC grew its position in shares of Four Corners Property Trust by 856.0% during the 4th quarter. Sterling Capital Management LLC now owns 3,040 shares of the financial services provider's stock worth $83,000 after buying an additional 2,722 shares during the period. Finally, CWM LLC grew its position in shares of Four Corners Property Trust by 15.0% during the 1st quarter. CWM LLC now owns 2,975 shares of the financial services provider's stock worth $85,000 after buying an additional 389 shares during the period. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Performance

FCPT traded up $0.25 during trading hours on Wednesday, hitting $25.91. The stock had a trading volume of 94,952 shares, compared to its average volume of 697,693. The company's fifty day simple moving average is $26.51 and its 200 day simple moving average is $27.38. Four Corners Property Trust, Inc. has a 1 year low of $25.00 and a 1 year high of $30.93. The stock has a market cap of $2.71 billion, a PE ratio of 23.99 and a beta of 0.83. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.39.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. 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 return on equity of 7.40% and a net margin of 37.87%.The company had revenue of $72.84 million during the quarter, compared to analyst estimates of $70.27 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. Four Corners Property Trust's revenue was up 9.6% on a year-over-year basis. Equities analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.42 annualized dividend and a dividend yield of 5.5%. Four Corners Property Trust's payout ratio is presently 131.48%.

Insiders Place Their Bets

In related news, Director John S. Moody sold 7,667 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $27.42, for a total value of $210,229.14. Following the completion of the sale, the director owned 53,821 shares in the company, valued at $1,475,771.82. The trade was a 12.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

FCPT has been the topic of a number of recent research reports. Raymond James Financial cut their target price on Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. UBS Group increased their target price on Four Corners Property Trust from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Wells Fargo & Company cut their target price 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. Finally, Barclays cut their target price on Four Corners Property Trust from $30.00 to $29.00 and set an "equal weight" rating on the stock in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus 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.