MQS Management LLC purchased a new position in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 46,415 shares of the financial services provider's stock, valued at approximately $1,332,000. Four Corners Property Trust makes up 0.8% of MQS Management LLC's portfolio, making the stock its 4th biggest holding.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in Four Corners Property Trust by 234.1% during the 4th 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. VSM Wealth Advisory LLC acquired a new stake in Four Corners Property Trust during the 4th quarter worth about $39,000. GF Fund Management CO. LTD. acquired a new stake in Four Corners Property Trust during the 4th quarter worth about $46,000. Quarry LP acquired a new stake in Four Corners Property Trust during the 4th quarter worth about $49,000. Finally, CWM LLC raised its holdings in 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.
Analysts Set New Price Targets
FCPT has been the topic of several recent analyst reports. UBS Group cut their price objective on Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company dropped 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. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Four Corners Property Trust presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.40.
View Our Latest Analysis on FCPT
Four Corners Property Trust Stock Up 0.4%
Shares of NYSE FCPT traded up $0.10 during trading hours on Wednesday, hitting $26.35. The stock had a trading volume of 535,677 shares, compared to its average volume of 667,740. The company has a market capitalization of $2.65 billion, a P/E ratio of 24.63 and a beta of 0.84. The firm's 50-day moving average price is $27.22 and its two-hundred day moving average price is $27.62. Four Corners Property Trust, Inc. has a 52 week low of $25.01 and a 52 week high of $30.93. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.14 and a current ratio of 0.14.
Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. The firm had revenue of $71.48 million during the quarter, compared to analysts' expectations of $67.17 million. Four Corners Property Trust had a return on equity of 7.46% and a net margin of 37.57%. The company's revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 earnings per share. Analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 EPS 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. Shareholders of record on Monday, June 30th were given a dividend of $0.355 per share. The ex-dividend date of this dividend 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 payout ratio is currently 132.71%.
Insider Transactions at Four Corners Property Trust
In other Four Corners Property Trust news, Director John S. Moody sold 7,667 shares of the company'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 transaction of $210,229.14. Following the completion of the sale, the director owned 53,821 shares of the company's stock, valued at $1,475,771.82. This represents a 12.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by insiders.
Four Corners Property Trust Company Profile
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Free Report)
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.
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