Retirement Planning Co of New England Inc. Makes New Investment in Four Corners Property Trust, Inc. $FCPT

Key Points

• Retirement Planning Co of New England Inc. has acquired 15,225 shares of Four Corners Property Trust, Inc. worth approximately $437,000 during the first quarter of the year.
• Insider activity includes Director John S. Moody selling 7,667 shares, resulting in a 12.47% decrease in ownership, while institutional investors collectively own 98.66% of the company's stock.
• Four Corners Property Trust reported earnings of $0.44 per share for the last quarter, exceeding analysts' expectations, while also announcing a quarterly dividend of $0.355 with an annual yield of 5.5%.

Retirement Planning Co of New England Inc. bought a new stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 15,225 shares of the financial services provider's stock, valued at approximately $437,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FCPT. Zimmer Partners LP purchased a new position in Four Corners Property Trust during the 4th quarter valued at about $38,512,000. Massachusetts Financial Services Co. MA purchased a new position in Four Corners Property Trust during the 1st quarter valued at about $33,515,000. Balyasny Asset Management L.P. purchased a new position in Four Corners Property Trust during the 4th quarter valued at about $18,084,000. Nuveen LLC purchased a new position in Four Corners Property Trust during the 1st quarter valued at about $18,291,000. Finally, Cbre Investment Management Listed Real Assets LLC boosted its holdings in Four Corners Property Trust by 63.1% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,342,834 shares of the financial services provider's stock valued at $38,539,000 after acquiring an additional 519,633 shares during the period. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Four Corners Property Trust news, Director John S. Moody sold 7,667 shares of Four Corners Property Trust stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $27.42, for a total transaction of $210,229.14. Following the transaction, the director owned 53,821 shares of the company's stock, valued at $1,475,771.82. The trade was a 12.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by company insiders.

Four Corners Property Trust Stock Up 0.5%

Shares of NYSE FCPT traded up $0.12 during midday trading on Wednesday, hitting $25.75. 438,521 shares of the company's stock were exchanged, compared to its average volume of 466,374. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.12 and a quick ratio of 0.12. Four Corners Property Trust, Inc. has a twelve month low of $25.00 and a twelve month high of $30.93. The company has a market cap of $2.69 billion, a PE ratio of 23.85 and a beta of 0.86. The firm's fifty day simple moving average is $26.15 and its 200-day simple moving average is $27.22.

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 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 for the quarter, compared to analyst estimates of $70.27 million. During the same quarter last year, the company earned $0.43 EPS. The business's quarterly revenue was up 9.6% on a year-over-year basis. Research analysts predict that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

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

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.