Quantbot Technologies LP Grows Stake in Four Corners Property Trust, Inc. $FCPT

Key Points

• Quantbot Technologies LP significantly increased its holdings in Four Corners Property Trust by 96.1%, acquiring an additional 52,419 shares, bringing its total ownership to 106,954 shares valued at approximately $3,070,000.
• The company reported an earnings beat with $0.44 EPS for the last quarter, exceeding the consensus estimate of $0.42, alongside a 9.6% year-over-year revenue growth.
• Four Corners Property Trust has a dividend yield of 5.5% after declaring a quarterly dividend of $0.355, though the dividend payout ratio stands at 131.48%.

Quantbot Technologies LP lifted its position in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 96.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,954 shares of the financial services provider's stock after purchasing an additional 52,419 shares during the quarter. Quantbot Technologies LP owned 0.11% of Four Corners Property Trust worth $3,070,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Costello Asset Management INC purchased a new position in shares of Four Corners Property Trust in the 1st quarter worth about $40,000. GF Fund Management CO. LTD. purchased a new position in shares of Four Corners Property Trust in the 4th quarter worth about $46,000. Brooklyn Investment Group boosted its holdings in shares of 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 worth $49,000 after purchasing an additional 1,584 shares in the last quarter. Quarry LP purchased a new position in shares of Four Corners Property Trust in the 4th quarter worth about $49,000. Finally, CWM LLC boosted 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 worth $85,000 after purchasing an additional 389 shares in the last quarter. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Four Corners Property Trust news, Director John S. Moody sold 7,667 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $27.42, for a total value of $210,229.14. Following the completion of the sale, the director owned 53,821 shares in the company, valued at approximately $1,475,771.82. This trade represents a 12.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.20% of the company's stock.

Four Corners Property Trust Trading Down 0.7%

FCPT stock traded down $0.1850 during trading on Monday, hitting $25.8650. 23,261 shares of the company traded hands, compared to its average volume of 691,995. Four Corners Property Trust, Inc. has a 1 year low of $25.00 and a 1 year high of $30.93. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.12 and a current ratio of 0.12. The company has a 50-day moving average of $26.41 and a 200-day moving average of $27.33. The firm has a market capitalization of $2.70 billion, a PE ratio of 23.96 and a beta of 0.83.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. Four Corners Property Trust had a return on equity of 7.40% and a net margin of 37.87%.The business had revenue of $72.84 million during the quarter, compared to analysts' expectations of $70.27 million. During the same quarter last year, the business posted $0.43 EPS. The business's revenue was up 9.6% on a year-over-year basis. Analysts predict 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.355 dividend. 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 Analysts Forecast Growth

FCPT has been the subject of several analyst reports. UBS Group increased their target price 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. Barclays dropped their target price on Four Corners Property Trust from $30.00 to $29.00 and set an "equal weight" rating for the company in a report on Wednesday, August 20th. Raymond James Financial dropped their target price 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. Finally, Wells Fargo & Company dropped their target price 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 research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $29.40.

About Four Corners Property Trust

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.