Insider Selling: Four Corners Property Trust, Inc. (NYSE:FCPT) Director Sells 778 Shares of Stock

Key Points

• Director Toni S. Steele of Four Corners Property Trust sold 778 shares at an average price of $25.71, reducing their ownership by 2.87%.
• The company recently reported quarterly earnings of $0.44 EPS, exceeding estimates, and experienced a 9.6% year-over-year revenue growth.
• Four Corners Property Trust announced a quarterly dividend of $0.355, resulting in a 5.5% yield and a high dividend payout ratio of 131.48%.

Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) Director Toni S. Steele sold 778 shares of Four Corners Property Trust stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $25.71, for a total value of $20,002.38. Following the completion of the sale, the director owned 26,346 shares of the company's stock, valued at approximately $677,355.66. The trade was a 2.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Four Corners Property Trust Trading Up 0.9%

Shares of FCPT stock traded up $0.23 on Monday, hitting $25.72. The company had a trading volume of 776,117 shares, compared to its average volume of 612,600. The stock's 50-day moving average is $26.94 and its two-hundred day moving average is $27.54. Four Corners Property Trust, Inc. has a twelve month low of $25.00 and a twelve month high of $30.93. The firm has a market cap of $2.69 billion, a P/E ratio of 23.82 and a beta of 0.83. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.12 and a current ratio of 0.12.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. Four Corners Property Trust had a return on equity of 7.40% and a net margin of 37.87%. The business had revenue of $72.84 million for the quarter, compared to analyst estimates of $70.27 million. During the same quarter in the prior year, the company earned $0.43 earnings per share. The company's quarterly revenue was up 9.6% on a year-over-year basis. On average, equities research analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal 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 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend was Monday, June 30th. Four Corners Property Trust's dividend payout ratio (DPR) is currently 131.48%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on 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. Raymond James Financial decreased their target price on Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating on the stock in a report on Thursday. Finally, UBS Group decreased their price objective 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 given a buy rating to the company. According to data from MarketBeat, Four Corners Property Trust has an average rating of "Moderate Buy" and an average price target of $29.40.

Hedge Funds Weigh In On Four Corners Property Trust

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Four Corners Property Trust by 3.7% during the first quarter. Vanguard Group Inc. now owns 11,275,334 shares of the financial services provider's stock worth $323,602,000 after buying an additional 400,396 shares in the last quarter. Invesco Ltd. lifted its stake in Four Corners Property Trust by 2.9% during the fourth quarter. Invesco Ltd. now owns 3,072,755 shares of the financial services provider's stock worth $83,395,000 after purchasing an additional 85,476 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Four Corners Property Trust by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 2,455,295 shares of the financial services provider's stock valued at $66,651,000 after acquiring an additional 98,120 shares during the last quarter. Capital International Investors increased its holdings in Four Corners Property Trust by 25.4% during the 4th quarter. Capital International Investors now owns 2,267,422 shares of the financial services provider's stock valued at $61,538,000 after purchasing an additional 459,542 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Four Corners Property Trust by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,843,627 shares of the financial services provider's stock worth $52,912,000 after acquiring an additional 21,205 shares during the period. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

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.

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