Four Corners Property Trust (NYSE:FCPT) Sees Large Volume Increase - Should You Buy?

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 994,994 shares were traded during mid-day trading, an increase of 54% from the previous session's volume of 646,037 shares.The stock last traded at $27.04 and had previously closed at $27.40.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, June 2nd. UBS Group lowered 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 research report on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Four Corners Property Trust has a consensus rating of "Moderate Buy" and a consensus target price of $29.40.

Four Corners Property Trust Stock Performance

The firm has a market capitalization of $2.75 billion, a P/E ratio of 25.57 and a beta of 0.86. The company's 50 day moving average is $27.58 and its 200-day moving average is $27.77. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.40.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. Four Corners Property Trust had a net margin of 37.57% and a return on equity of 7.46%. The business had revenue of $71.48 million for the quarter, compared to analyst estimates of $67.17 million. During the same period in the prior year, the firm earned $0.43 earnings per share. Four Corners Property Trust's revenue was up 7.5% on a year-over-year basis. As a group, equities analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date is Monday, June 30th. Four Corners Property Trust's payout ratio is currently 132.71%.

Insider Activity

In other news, Director John S. Moody sold 7,667 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $27.42, for a total transaction of $210,229.14. Following the completion of the transaction, the director now directly owns 53,821 shares of the company's stock, valued at approximately $1,475,771.82. This represents a 12.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Niccole Stewart sold 9,100 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $27.28, for a total transaction of $248,248.00. Following the transaction, the chief accounting officer now directly owns 31,204 shares of the company's stock, valued at approximately $851,245.12. This trade represents a 22.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.20% of the company's stock.

Hedge Funds Weigh In On Four Corners Property Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the business. 1620 Investment Advisors Inc. grew its holdings in shares of Four Corners Property Trust by 4.1% in the fourth quarter. 1620 Investment Advisors Inc. now owns 9,138 shares of the financial services provider's stock worth $248,000 after acquiring an additional 363 shares during the period. CWM LLC lifted its position 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 valued at $85,000 after buying an additional 389 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Four Corners Property Trust by 1.5% during the 4th quarter. Arizona State Retirement System now owns 26,893 shares of the financial services provider's stock valued at $730,000 after buying an additional 406 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Four Corners Property Trust by 5.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,755 shares of the financial services provider's stock valued at $238,000 after buying an additional 450 shares in the last quarter. Finally, Palisades Investment Partners LLC lifted its position in shares of Four Corners Property Trust by 1.5% during the 1st quarter. Palisades Investment Partners LLC now owns 31,762 shares of the financial services provider's stock valued at $912,000 after buying an additional 459 shares in the last quarter. Institutional investors own 98.66% of the company's stock.

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.