Rye Brook Capital LLC Acquires 12,500 Shares of Four Corners Property Trust, Inc. $FCPT

Key Points

• Rye Brook Capital LLC increased its holdings in Four Corners Property Trust by 11.4%, acquiring an additional 12,500 shares, and now owns 122,600 shares, making it their 9th largest holding.
• Four Corners Property Trust reported $0.44 EPS for the last quarter, exceeding expectations, and saw a revenue increase of 9.6% from the same quarter last year.
• The company announced a quarterly dividend of $0.355 per share, representing an annualized yield of 5.9%, with a payout ratio of 131.48%.

Rye Brook Capital LLC raised its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 11.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 122,600 shares of the financial services provider's stock after buying an additional 12,500 shares during the period. Four Corners Property Trust accounts for about 3.4% of Rye Brook Capital LLC's portfolio, making the stock its 9th largest holding. Rye Brook Capital LLC owned about 0.12% of Four Corners Property Trust worth $3,299,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Costello Asset Management INC acquired a new stake in Four Corners Property Trust in the 1st quarter valued at $40,000. Brooklyn Investment Group increased its stake in shares of Four Corners Property Trust by 1,389.5% during 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 during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Four Corners Property Trust during the 1st quarter worth about $77,000. Smartleaf Asset Management LLC increased its stake in shares of Four Corners Property Trust by 106.3% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,845 shares of the financial services provider's stock worth $81,000 after purchasing an additional 1,466 shares during the last quarter. Finally, CWM LLC increased its stake in shares of Four Corners Property Trust by 15.0% during 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 during the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Performance

Shares of FCPT stock opened at $24.05 on Thursday. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 22.27 and a beta of 0.87. 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 simple moving average of $25.30 and a 200 day simple moving average of $26.65. Four Corners Property Trust, Inc. has a 52 week low of $23.64 and a 52 week high of $30.12.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its earnings results on Tuesday, July 29th. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $72.84 million during the quarter, compared to the consensus estimate of $70.27 million. Four Corners Property Trust had a net margin of 37.87% and a return on equity of 7.40%. Four Corners Property Trust's revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.43 EPS. On average, sell-side analysts predict 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 Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.355 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.42 dividend on an annualized basis and a yield of 5.9%. Four Corners Property Trust's payout ratio is currently 131.48%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FCPT. Wells Fargo & Company restated an "equal weight" rating and set a $27.00 price objective (down from $29.00) on shares of Four Corners Property Trust in a research note on Thursday, September 11th. Barclays lowered their price objective on shares of Four Corners Property Trust from $30.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 20th. Raymond James Financial lowered their price objective on shares of Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. UBS Group boosted their price objective on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Four Corners Property Trust in a research note on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $29.00.

Insider Transactions at Four Corners Property Trust

In other Four Corners Property Trust news, CAO Niccole Stewart sold 3,950 shares of the business's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $25.30, for a total value of $99,935.00. Following the completion of the sale, the chief accounting officer owned 27,502 shares of the company's stock, valued at $695,800.60. The trade was a 12.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William H. Lenehan acquired 7,850 shares of the business's stock in a transaction on Friday, September 12th. The stock was acquired at an average cost of $25.40 per share, with a total value of $199,390.00. Following the acquisition, the chief executive officer directly owned 698,426 shares in the company, valued at approximately $17,740,020.40. This trade represents a 1.14% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.20% of the company's stock.

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.

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