Free Trial

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

Four Corners Property Trust logo with Finance background

Principal Financial Group Inc. raised its stake in 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. The fund owned 1,843,627 shares of the financial services provider's stock after purchasing an additional 21,205 shares during the quarter. Principal Financial Group Inc. owned 1.84% of Four Corners Property Trust worth $52,912,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Zimmer Partners LP purchased a new stake in shares of Four Corners Property Trust in the fourth quarter valued at approximately $38,512,000. Balyasny Asset Management L.P. acquired a new position in Four Corners Property Trust during the fourth quarter worth $18,084,000. Raymond James Financial Inc. acquired a new position in Four Corners Property Trust during the fourth quarter worth $12,845,000. Capital International Investors raised its holdings in Four Corners Property Trust by 25.4% during the fourth quarter. Capital International Investors now owns 2,267,422 shares of the financial services provider's stock worth $61,538,000 after purchasing an additional 459,542 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in Four Corners Property Trust by 33.6% during the fourth quarter. Marshall Wace LLP now owns 1,631,150 shares of the financial services provider's stock worth $44,269,000 after purchasing an additional 410,458 shares during the last quarter. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Four Corners Property Trust

In other Four Corners Property Trust news, Director John S. Moody sold 7,667 shares of the business's stock in a transaction dated 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 approximately $1,475,771.82. The trade was a 12.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Niccole Stewart sold 9,100 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $27.28, for a total value of $248,248.00. Following the sale, the chief accounting officer directly owned 31,204 shares of the company's stock, 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 currently owned by insiders.

Four Corners Property Trust Stock Performance

Shares of NYSE FCPT remained flat at $26.60 during trading on Thursday. The stock had a trading volume of 501,278 shares, compared to its average volume of 723,398. Four Corners Property Trust, Inc. has a 12 month low of $25.00 and a 12 month high of $30.93. The stock has a market capitalization of $2.67 billion, a PE ratio of 24.86 and a beta of 0.84. The business's fifty day simple moving average is $27.35 and its 200-day simple moving average is $27.65. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.40.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. The business had revenue of $71.48 million during the quarter, compared to the consensus estimate of $67.17 million. Four Corners Property Trust had a return on equity of 7.46% and a net margin of 37.57%. The business's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 earnings per share. On average, sell-side analysts predict that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Dividend Announcement

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 5.34%. The ex-dividend date is Monday, June 30th. Four Corners Property Trust's dividend payout ratio is currently 132.71%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FCPT. UBS Group reduced their price objective on 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 report on Monday, June 2nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $29.40.

Check Out Our Latest Stock Report on FCPT

Four Corners Property Trust Profile

(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.

See Also

Institutional Ownership by Quarter for Four Corners Property Trust (NYSE:FCPT)

Should You Invest $1,000 in Four Corners Property Trust Right Now?

Before you consider Four Corners Property Trust, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Four Corners Property Trust wasn't on the list.

While Four Corners Property Trust currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Ten Starter Stocks For Beginners to Buy Now Cover

Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Palantir & AMD Earnings: Massive Options Setups Ahead
3 Value Plays Set to Explode
5 Stocks to BUY NOW in August 2025

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines