Lazard Asset Management LLC Buys 13,683 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Lazard Asset Management LLC lifted its stake in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 45.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,931 shares of the financial services provider's stock after purchasing an additional 13,683 shares during the period. Lazard Asset Management LLC's holdings in Four Corners Property Trust were worth $1,192,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FCPT. Barclays PLC increased its holdings in shares of Four Corners Property Trust by 109.5% in the third quarter. Barclays PLC now owns 156,021 shares of the financial services provider's stock valued at $4,572,000 after purchasing an additional 81,565 shares in the last quarter. Ballentine Partners LLC bought a new stake in shares of Four Corners Property Trust during the 4th quarter valued at $277,000. SG Americas Securities LLC raised its position in shares of Four Corners Property Trust by 91.2% during the 4th quarter. SG Americas Securities LLC now owns 9,872 shares of the financial services provider's stock valued at $268,000 after acquiring an additional 4,708 shares during the last quarter. Inspire Investing LLC raised its position in shares of Four Corners Property Trust by 20.2% during the 4th quarter. Inspire Investing LLC now owns 18,898 shares of the financial services provider's stock valued at $513,000 after acquiring an additional 3,179 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Four Corners Property Trust by 58.4% during the 4th quarter. Blue Trust Inc. now owns 22,480 shares of the financial services provider's stock valued at $659,000 after acquiring an additional 8,290 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Barclays dropped their target price on shares of Four Corners Property Trust from $31.00 to $30.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. JMP Securities reiterated a "market perform" rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. UBS Group decreased their price target on shares of Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, Wells Fargo & Company boosted their price target on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Monday, March 10th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.60.

Four Corners Property Trust Trading Up 0.2%

Shares of FCPT stock traded up $0.05 on Friday, hitting $27.05. The stock had a trading volume of 526,778 shares, compared to its average volume of 633,165. Four Corners Property Trust, Inc. has a twelve month low of $23.70 and a twelve month high of $30.93. The firm has a market cap of $2.72 billion, a P/E ratio of 25.28 and a beta of 0.86. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.36. The company has a fifty day moving average price of $27.73 and a two-hundred day moving average price of $27.95.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The company had revenue of $71.48 million during the quarter, compared to analyst estimates of $67.17 million. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. The firm's revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date was Monday, March 31st. Four Corners Property Trust's payout ratio is presently 132.71%.

Insider Buying and Selling

In related 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 directly owns 31,204 shares of the company's stock, valued at approximately $851,245.12. This represents a 22.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.20% of the company's stock.

About Four Corners Property Trust

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.