Four Corners Property Trust, Inc. $FCPT Stock Holdings Increased by Northern Trust Corp

Key Points

• Northern Trust Corp increased its holdings in Four Corners Property Trust by 4.5% in Q1, owning approximately $39.89 million worth of the company's stock.
• Several large investors, including Vanguard Group Inc. and Boston Trust Walden Corp, also increased their positions, highlighting strong institutional interest in Four Corners Property Trust.
• Four Corners Property Trust reported Q2 earnings of $0.44 per share, surpassing analysts' expectations, and recently declared a quarterly dividend yielding 5.5%, despite a high dividend payout ratio of 131.48%.

Northern Trust Corp lifted its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 4.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,389,909 shares of the financial services provider's stock after acquiring an additional 59,823 shares during the period. Northern Trust Corp owned 1.38% of Four Corners Property Trust worth $39,890,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Costello Asset Management INC bought a new position in Four Corners Property Trust in the 1st quarter valued at about $40,000. GF Fund Management CO. LTD. bought a new position in Four Corners Property Trust in the 4th quarter valued at about $46,000. Quarry LP bought a new position in Four Corners Property Trust in the 4th quarter valued at about $49,000. Brooklyn Investment Group grew its position in Four Corners Property Trust by 1,389.5% in the 1st quarter. Brooklyn Investment Group now owns 1,698 shares of the financial services provider's stock valued at $49,000 after buying an additional 1,584 shares in the last quarter. Finally, CWM LLC grew its position in Four Corners Property Trust by 15.0% in the 1st quarter. CWM LLC now owns 2,975 shares of the financial services provider's stock valued at $85,000 after buying an additional 389 shares in the last quarter. Institutional investors own 98.66% of the company's stock.

Four Corners Property Trust Trading Up 0.5%

Shares of FCPT traded up $0.12 during midday trading on Wednesday, hitting $25.75. The stock had a trading volume of 438,521 shares, compared to its average volume of 466,374. Four Corners Property Trust, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $30.93. The business has a 50-day simple moving average of $26.15 and a two-hundred day simple moving average of $27.22. The firm has a market cap of $2.69 billion, a P/E ratio of 23.85 and a beta of 0.86. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.39.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its earnings results on Tuesday, July 29th. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate 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 company had revenue of $72.84 million during the quarter, compared to analysts' expectations of $70.27 million. During the same period last year, the company posted $0.43 earnings per share. The business's revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities analysts forecast that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.355 dividend. 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 dividend payout ratio is 131.48%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FCPT shares. Barclays decreased 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 research report on Wednesday, August 20th. UBS Group raised their price objective 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. Raymond James Financial reduced their price objective on shares of Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Finally, Wells Fargo & Company reduced their price objective on shares of Four Corners Property Trust from $30.00 to $29.00 and set an "overweight" rating for the company in a research report on Wednesday, August 27th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $29.50.

Insider Activity

In other news, Director John S. Moody sold 7,667 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $27.42, for a total value of $210,229.14. Following the completion of the sale, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by company 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.