Massachusetts Financial Services Co. MA Invests $33.52 Million in Four Corners Property Trust, Inc. (NYSE:FCPT)

Massachusetts Financial Services Co. MA bought a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 1,167,760 shares of the financial services provider's stock, valued at approximately $33,515,000. Massachusetts Financial Services Co. MA owned 1.17% of Four Corners Property Trust as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of FCPT. Raymond James Financial Inc. acquired a new position in shares of Four Corners Property Trust in the 4th quarter valued at approximately $12,845,000. HighTower Advisors LLC increased its position in Four Corners Property Trust by 4.8% in the fourth quarter. HighTower Advisors LLC now owns 16,288 shares of the financial services provider's stock worth $442,000 after buying an additional 750 shares during the period. EverSource Wealth Advisors LLC increased its position in Four Corners Property Trust by 234.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the financial services provider's stock worth $32,000 after buying an additional 817 shares during the period. Avantax Advisory Services Inc. increased its position in Four Corners Property Trust by 1.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 43,434 shares of the financial services provider's stock worth $1,179,000 after buying an additional 736 shares during the period. Finally, Swiss National Bank grew its stake in shares of Four Corners Property Trust by 1.4% in the fourth quarter. Swiss National Bank now owns 182,207 shares of the financial services provider's stock worth $4,945,000 after purchasing an additional 2,600 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company's stock.

Four Corners Property Trust Stock Performance

Shares of FCPT traded up $0.01 on Monday, reaching $26.35. 674,881 shares of the stock traded hands, compared to its average volume of 671,047. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 15.14 and a beta of 0.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.14 and a quick ratio of 0.14. Four Corners Property Trust, Inc. has a 12 month low of $25.01 and a 12 month high of $30.93. The stock's 50-day moving average price is $27.17 and its 200-day moving average price is $27.61.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. The company had revenue of $71.48 million for the quarter, compared to analyst estimates of $67.17 million. Four Corners Property Trust had a return on equity of 7.46% and a net margin of 37.57%. The business's revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.43 earnings per share. Equities analysts forecast that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.355 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.42 dividend on an annualized basis and a yield of 5.39%. Four Corners Property Trust's dividend payout ratio is presently 132.71%.

Analyst Ratings Changes

Several research analysts recently weighed in on FCPT shares. UBS Group decreased their target price on Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Wells Fargo & Company cut their price target on Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating for the company in a research note on Monday, June 2nd. 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, Four Corners Property Trust has a consensus rating of "Moderate Buy" and an average price target of $29.40.

Insider Activity at Four Corners Property Trust

In other news, Director John S. Moody sold 7,667 shares of the firm'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 sale, the director owned 53,821 shares of the company's stock, valued at $1,475,771.82. This trade represents a 12.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

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.