Four Corners Property Trust, Inc. $FCPT Stake Lessened by Invesco Ltd.

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. trimmed its stake in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 4.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,934,508 shares of the financial services provider's stock after selling 138,247 shares during the quarter. Invesco Ltd. owned about 2.92% of Four Corners Property Trust worth $84,220,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Costello Asset Management INC purchased a new stake in Four Corners Property Trust in the first quarter valued at approximately $40,000. GF Fund Management CO. LTD. purchased a new stake in Four Corners Property Trust in the fourth quarter valued at approximately $46,000. Quarry LP purchased a new stake in Four Corners Property Trust in the fourth quarter valued at approximately $49,000. CWM LLC grew 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 purchasing an additional 389 shares during the period. Finally, Sterling Capital Management LLC grew its holdings in Four Corners Property Trust by 856.0% in the fourth 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 period. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Four Corners Property Trust

In other news, Director John S. Moody sold 7,667 shares of the business'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 transaction, the director directly owned 53,821 shares of the company's stock, valued at approximately $1,475,771.82. The trade was a 12.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.20% of the company's stock.

Four Corners Property Trust Trading Down 0.5%

FCPT stock traded down $0.1330 during midday trading on Thursday, reaching $25.7770. 294,477 shares of the company's stock traded hands, compared to its average volume of 598,106. The business has a 50-day moving average price of $26.44 and a two-hundred day moving average price of $27.35. Four Corners Property Trust, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $30.93. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market capitalization of $2.69 billion, a P/E ratio of 23.87 and a beta of 0.83.

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 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. Four Corners Property Trust had a net margin of 37.87% and a return on equity of 7.40%. The business had revenue of $72.84 million for the quarter, compared to analysts' expectations of $70.27 million. During the same period in the previous year, the company posted $0.43 earnings per share. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. Equities research 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 given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Monday, June 30th. Four Corners Property Trust's payout ratio is presently 131.48%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, June 2nd. Barclays lowered their target price on shares of Four Corners Property Trust from $30.00 to $29.00 and set an "equal weight" rating for the company in a report on Wednesday. UBS Group lifted their price target on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Finally, Raymond James Financial reduced their price target on shares of Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average 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.