Voloridge Investment Management LLC Buys 71,000 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Voloridge Investment Management LLC increased its position in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 24.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 360,369 shares of the financial services provider's stock after purchasing an additional 71,000 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.37% of Four Corners Property Trust worth $9,780,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Zimmer Partners LP acquired a new stake in shares of Four Corners Property Trust during the 4th quarter worth approximately $38,512,000. Sophron Capital Management L.P. bought a new position in shares of Four Corners Property Trust during the fourth quarter valued at $4,901,000. Two Sigma Advisers LP raised its stake in shares of Four Corners Property Trust by 28.5% during the fourth quarter. Two Sigma Advisers LP now owns 344,500 shares of the financial services provider's stock valued at $9,350,000 after acquiring an additional 76,500 shares during the last quarter. Two Sigma Investments LP raised its stake in Four Corners Property Trust by 56.3% during the fourth quarter. Two Sigma Investments LP now owns 373,709 shares of the financial services provider's stock worth $10,142,000 after buying an additional 134,664 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in Four Corners Property Trust by 51.8% during the fourth quarter. ProShare Advisors LLC now owns 29,082 shares of the financial services provider's stock worth $789,000 after buying an additional 9,924 shares during the last quarter. 98.66% of the stock is owned by institutional investors.

Insider Transactions at Four Corners Property Trust

In other Four Corners Property Trust news, CAO Niccole Stewart sold 9,100 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $27.28, for a total value of $248,248.00. Following the sale, the chief accounting officer now owns 31,204 shares of the company's stock, valued at approximately $851,245.12. This represents a 22.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company's stock.

Four Corners Property Trust Stock Performance

Shares of NYSE FCPT traded up $0.01 during midday trading on Friday, reaching $27.42. 56,808 shares of the stock were exchanged, compared to its average volume of 631,973. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 25.71 and a beta of 0.86. Four Corners Property Trust, Inc. has a twelve month low of $23.76 and a twelve month high of $30.93. The firm has a 50-day simple moving average of $27.64 and a two-hundred day simple moving average of $27.93. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.36.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. Four Corners Property Trust had a return on equity of 7.54% and a net margin of 37.48%. The business had revenue of $71.48 million for the quarter, compared to analyst estimates of $67.17 million. During the same quarter in the previous year, the firm earned $0.43 EPS. The company's quarterly revenue was up 7.5% compared to the same quarter last year. As a group, analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 5.18%. The ex-dividend date was Monday, March 31st. Four Corners Property Trust's dividend payout ratio (DPR) is presently 132.71%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. UBS Group reduced their price objective on shares of 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. JMP Securities reissued a "market perform" rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. Barclays cut their price target on shares of Four Corners Property Trust from $31.00 to $30.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company increased their price target on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Monday, March 10th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $29.60.

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.