MQS Management LLC Takes $1.33 Million Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

MQS Management LLC bought a new position in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 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 largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FCPT. 1620 Investment Advisors Inc. lifted its stake in Four Corners Property Trust by 4.1% in the fourth quarter. 1620 Investment Advisors Inc. now owns 9,138 shares of the financial services provider's stock worth $248,000 after purchasing an additional 363 shares during the last quarter. CWM LLC lifted its stake 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 worth $85,000 after purchasing an additional 389 shares during the last quarter. Arizona State Retirement System lifted its stake in Four Corners Property Trust by 1.5% in the fourth quarter. Arizona State Retirement System now owns 26,893 shares of the financial services provider's stock worth $730,000 after purchasing an additional 406 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Four Corners Property Trust by 5.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,755 shares of the financial services provider's stock worth $238,000 after purchasing an additional 450 shares during the last quarter. Finally, Palisades Investment Partners LLC lifted its stake in Four Corners Property Trust by 1.5% in the first quarter. Palisades Investment Partners LLC now owns 31,762 shares of the financial services provider's stock worth $912,000 after purchasing an additional 459 shares during the last quarter. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of 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. UBS Group lowered their price objective on shares of 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. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Four Corners Property Trust has a consensus rating of "Moderate Buy" and an average price target of $29.40.

Four Corners Property Trust Trading Down 0.1%

FCPT stock traded down $0.03 during trading on Friday, reaching $26.57. The company had a trading volume of 598,903 shares, compared to its average volume of 668,394. 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 market cap of $2.67 billion, a P/E ratio of 24.83 and a beta of 0.84. The business has a 50 day moving average of $27.30 and a 200 day moving average of $27.64. 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 (NYSE:FCPT - Get Free Report) last released its quarterly 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. Four Corners Property Trust had a net margin of 37.57% and a return on equity of 7.46%. The company had revenue of $71.48 million during the quarter, compared to the consensus estimate of $67.17 million. During the same period in the prior year, the firm earned $0.43 earnings per share. Four Corners Property Trust's revenue was up 7.5% on a year-over-year basis. As a group, sell-side analysts forecast that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date of this dividend is Monday, June 30th. 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 dated Monday, June 9th. The shares were sold at an average price of $27.42, for a total value of $210,229.14. Following the sale, the director owned 53,821 shares in the company, valued at approximately $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 can be accessed through this link. Also, CAO Niccole Stewart sold 9,100 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $27.28, for a total transaction of $248,248.00. Following the completion of the sale, the chief accounting officer owned 31,204 shares in the company, valued at approximately $851,245.12. This trade represents a 22.58% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Four Corners Property Trust 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.