Vident Advisory LLC Has $4.89 Million Stock Position in Four Corners Property Trust, Inc. $FCPT

Key Points

• Vident Advisory LLC increased its stake in Four Corners Property Trust by 19.5%, acquiring 27,837 additional shares in the first quarter, bringing its total ownership to 170,307 shares valued at approximately $4.89 million.
• Four Corners Property Trust reported earnings of $0.44 EPS for the most recent quarter, exceeding expectations and marking a revenue increase of 9.6% year-over-year.
• The company announced a quarterly dividend of $0.355 per share, resulting in an annualized dividend yield of 5.5% and a payout ratio of 131.48%.

Vident Advisory LLC raised its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 19.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 170,307 shares of the financial services provider's stock after buying an additional 27,837 shares during the quarter. Vident Advisory LLC owned 0.17% of Four Corners Property Trust worth $4,888,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Costello Asset Management INC purchased a new stake in shares of Four Corners Property Trust in the first quarter worth approximately $40,000. GF Fund Management CO. LTD. purchased a new stake in shares of Four Corners Property Trust in the fourth quarter worth approximately $46,000. Brooklyn Investment Group lifted its position in shares of Four Corners Property Trust by 1,389.5% in the first 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 stake in shares of Four Corners Property Trust in the fourth quarter worth approximately $49,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Four Corners Property Trust in the first quarter worth approximately $77,000. 98.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. UBS Group increased their price target on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Raymond James Financial dropped their price objective on Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Wells Fargo & Company dropped their price objective on Four Corners Property Trust from $30.00 to $29.00 and set an "overweight" rating on the stock in a report on Wednesday, August 27th. Finally, Barclays dropped their price objective on Four Corners Property Trust from $30.00 to $29.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 20th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $29.50.

Four Corners Property Trust Stock Performance

FCPT stock traded up $0.16 during midday trading on Thursday, hitting $25.94. 365,158 shares of the company traded hands, compared to its average volume of 683,128. 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 quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.39. The business has a 50 day simple moving average of $26.15 and a 200-day simple moving average of $27.22. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 23.99 and a beta of 0.86.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.44 EPS for the quarter, beating 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 company had revenue of $72.84 million for the quarter, compared to the consensus estimate of $70.27 million. During the same quarter last year, the company posted $0.43 earnings per share. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, equities research 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 business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.5%. The ex-dividend date was Monday, June 30th. Four Corners Property Trust's dividend payout ratio (DPR) is 131.48%.

Insider Buying and Selling

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 transaction of $210,229.14. Following the transaction, the director owned 53,821 shares in the company, valued at $1,475,771.82. This trade represents a 12.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by company insiders.

Four Corners Property Trust Company 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.