Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 1.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,843,627 shares of the financial services provider's stock after buying an additional 21,205 shares during the period. Principal Financial Group Inc. owned approximately 1.84% of Four Corners Property Trust worth $52,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in Four Corners Property Trust by 23.6% during the 1st quarter. GAMMA Investing LLC now owns 6,457 shares of the financial services provider's stock valued at $185,000 after purchasing an additional 1,231 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in Four Corners Property Trust by 9.5% in the first quarter. Asset Management One Co. Ltd. now owns 275,185 shares of the financial services provider's stock valued at $7,898,000 after buying an additional 23,884 shares during the last quarter. Bank of New York Mellon Corp raised its position in Four Corners Property Trust by 1.3% during the 4th quarter. Bank of New York Mellon Corp now owns 891,425 shares of the financial services provider's stock worth $24,193,000 after buying an additional 11,131 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Four Corners Property Trust by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,612,978 shares of the financial services provider's stock valued at $43,776,000 after acquiring an additional 94,903 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Four Corners Property Trust by 10.6% in the 4th quarter. Barclays PLC now owns 172,564 shares of the financial services provider's stock valued at $4,682,000 after acquiring an additional 16,543 shares during the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Performance

FCPT stock traded down $0.19 during midday trading on Monday, hitting $26.99. 599,681 shares of the stock traded hands, compared to its average volume of 668,309. Four Corners Property Trust, Inc. has a 1-year low of $24.42 and a 1-year high of $30.93. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.14 and a quick ratio of 0.14. The stock's fifty day simple moving average is $27.42 and its 200-day simple moving average is $27.66. The firm has a market cap of $2.71 billion, a P/E ratio of 25.22 and a beta of 0.84.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. The firm had revenue of $71.48 million during 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%. Four Corners Property Trust's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.43 EPS. On average, analysts expect that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date of this dividend is Monday, June 30th. Four Corners Property Trust's dividend payout ratio (DPR) is presently 132.71%.

Insider Buying and Selling

In related news, CAO Niccole Stewart sold 9,100 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $27.28, for a total value of $248,248.00. Following the completion of the sale, the chief accounting officer owned 31,204 shares of the company's stock, valued at approximately $851,245.12. The trade was a 22.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John S. Moody sold 7,667 shares of the stock in a transaction 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 transaction, the director directly owned 53,821 shares in the company, valued at approximately $1,475,771.82. The trade was a 12.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on FCPT shares. UBS Group reduced their target price on shares of Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Wells Fargo & Company reduced their price objective 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 investment 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.com, Four Corners Property Trust presently has an average rating of "Moderate Buy" and an average target price of $29.40.

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.