Four Corners Property Trust (NYSE:FCPT) Sees Unusually-High Trading Volume - Here's What Happened

Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) shares saw an uptick in trading volume on Wednesday . 994,994 shares were traded during 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 Analysts Forecast Growth

Several brokerages have commented on FCPT. Wells Fargo & Company dropped their price target on shares of Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, June 2nd. UBS Group dropped their target price on 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $29.40.

Four Corners Property Trust Price Performance

The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $2.75 billion, a P/E ratio of 25.55 and a beta of 0.86. The company has a 50 day moving average of $27.55 and a 200-day moving average of $27.80.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. Four Corners Property Trust had a return on equity of 7.46% and a net margin of 37.57%. The company had revenue of $71.48 million for the quarter, compared to analyst estimates of $67.17 million. During the same quarter last year, the company earned $0.43 earnings per share. The company's revenue for the quarter was up 7.5% on a year-over-year basis. On average, sell-side analysts predict 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. Shareholders of record on Monday, June 30th will be paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.19%. The ex-dividend date is Monday, June 30th. Four Corners Property Trust's dividend payout ratio (DPR) is currently 132.71%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Four Corners Property Trust

Hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its stake in shares of Four Corners Property Trust by 234.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 817 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Four Corners Property Trust by 165.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,379 shares of the financial services provider's stock worth $38,000 after buying an additional 860 shares in the last quarter. VSM Wealth Advisory LLC purchased a new stake in Four Corners Property Trust during the 4th quarter worth approximately $39,000. Costello Asset Management INC purchased a new stake in Four Corners Property Trust during the 1st quarter worth approximately $40,000. Finally, GF Fund Management CO. LTD. purchased a new stake in Four Corners Property Trust during the 4th quarter worth approximately $46,000. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

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.

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