Y Intercept Hong Kong Ltd acquired a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 10,166 shares of the financial services provider's stock, valued at approximately $292,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Four Corners Property Trust by 9.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,551 shares of the financial services provider's stock valued at $274,000 after purchasing an additional 796 shares during the last quarter. KBC Group NV increased its holdings in Four Corners Property Trust by 40.8% during the first quarter. KBC Group NV now owns 5,212 shares of the financial services provider's stock worth $150,000 after buying an additional 1,510 shares during the last quarter. GAMMA Investing LLC increased its holdings in Four Corners Property Trust by 23.6% during the first quarter. GAMMA Investing LLC now owns 6,457 shares of the financial services provider's stock worth $185,000 after buying an additional 1,231 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in Four Corners Property Trust by 9.5% during the first quarter. Asset Management One Co. Ltd. now owns 275,185 shares of the financial services provider's stock worth $7,898,000 after buying an additional 23,884 shares during the last quarter. Finally, Barclays PLC increased its holdings in Four Corners Property Trust by 10.6% during the fourth quarter. Barclays PLC now owns 172,564 shares of the financial services provider's stock worth $4,682,000 after buying an additional 16,543 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on FCPT shares. Raymond James Financial lowered their target price on shares of Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating on the stock in a report on Thursday. Wells Fargo & Company decreased their price objective on shares of Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating on the stock in a report on Monday, June 2nd. Finally, UBS Group decreased their price objective on shares of Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $29.40.
Get Our Latest Report on Four Corners Property Trust
Insider Transactions at Four Corners Property Trust
In other news, Director John S. Moody sold 7,667 shares of Four Corners Property Trust stock in a transaction dated 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 directly owned 53,821 shares of the company's stock, valued at $1,475,771.82. The trade was a 12.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.20% of the company's stock.
Four Corners Property Trust Price Performance
NYSE FCPT traded up $0.21 on Friday, reaching $25.45. 919,549 shares of the company's stock traded hands, compared to its average volume of 566,623. Four Corners Property Trust, Inc. has a 12 month low of $25.00 and a 12 month high of $30.93. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.12 and a quick ratio of 0.14. The stock has a 50-day simple moving average of $26.96 and a 200 day simple moving average of $27.55. The stock has a market cap of $2.66 billion, a PE ratio of 23.57 and a beta of 0.84.
Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share 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 firm had revenue of $72.84 million during the quarter, compared to the consensus estimate of $70.27 million. During the same period last year, the company earned $0.43 earnings per share. The company's revenue was up 9.6% on a year-over-year basis. As a group, research analysts predict that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.
Four Corners Property Trust Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Monday, June 30th. Four Corners Property Trust's dividend payout ratio (DPR) is presently 131.48%.
Four Corners Property Trust Company Profile
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Free Report)
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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