Nuveen LLC Makes New Investment in Four Corners Property Trust, Inc. $FCPT

Key Points

• Nuveen LLC has acquired a new position in Four Corners Property Trust, Inc. (NYSE:FCPT), purchasing 637,309 shares valued at approximately $18.29 million, representing about 0.63% ownership in the company.
• Four Corners Property Trust recently reported quarterly earnings of $0.44 per share, exceeding analyst estimates and demonstrating a 9.6% revenue growth year-over-year.
• The company has declared a quarterly dividend of $0.355 per share, translating to an annualized dividend yield of 5.5%, with a dividend payout ratio of 131.48%.

Nuveen LLC 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 institutional investor bought 637,309 shares of the financial services provider's stock, valued at approximately $18,291,000. Nuveen LLC owned approximately 0.63% of Four Corners Property Trust at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of FCPT. Costello Asset Management INC bought a new position in shares of Four Corners Property Trust in the 1st quarter valued at about $40,000. GF Fund Management CO. LTD. bought a new position in shares of Four Corners Property Trust in the 4th quarter valued at about $46,000. Quarry LP bought a new position in shares of Four Corners Property Trust in the 4th quarter valued at about $49,000. Sterling Capital Management LLC grew its holdings in shares of Four Corners Property Trust by 856.0% in the 4th quarter. Sterling Capital Management LLC now owns 3,040 shares of the financial services provider's stock valued at $83,000 after acquiring an additional 2,722 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of 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 acquiring an additional 389 shares in the last quarter. Institutional investors own 98.66% of the company's stock.

Four Corners Property Trust Stock Performance

NYSE:FCPT traded down $0.3970 during mid-day trading on Monday, hitting $25.6530. The stock had a trading volume of 297,906 shares, compared to its average volume of 594,288. Four Corners Property Trust, Inc. has a twelve month low of $25.00 and a twelve month high of $30.93. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 23.75 and a beta of 0.83. The company's 50 day simple moving average is $26.38 and its 200 day simple moving average is $27.32. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.12 and a current ratio of 0.12.

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

Four Corners Property Trust Announces Dividend

The business also recently disclosed 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 was Monday, June 30th. This represents a $1.42 annualized dividend and a yield of 5.5%. Four Corners Property Trust's dividend payout ratio (DPR) is 131.48%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FCPT. Wells Fargo & Company decreased their price objective on Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, June 2nd. Raymond James Financial decreased their price objective on Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. UBS Group raised their price objective on Four Corners Property Trust from $30.00 to $31.00 and gave the company a "buy" rating in a report on Friday, August 15th. Finally, Barclays cut 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 note on Wednesday, August 20th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $29.40.

Insider Transactions at Four Corners Property Trust

In other Four Corners Property Trust news, Director John S. Moody sold 7,667 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $27.42, for a total transaction of $210,229.14. Following the completion of the sale, the director directly owned 53,821 shares in the company, valued at $1,475,771.82. This trade represents a 12.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.