GAMMA Investing LLC Acquires 180,090 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

GAMMA Investing LLC raised its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 3,446.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 185,316 shares of the financial services provider’s stock after acquiring an additional 180,090 shares during the quarter. GAMMA Investing LLC owned about 0.19% of Four Corners Property Trust worth $5,319,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings 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 worth $32,000 after acquiring an additional 817 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Four Corners Property Trust by 165.7% in 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 during the period. VSM Wealth Advisory LLC purchased a new stake in Four Corners Property Trust in the 4th quarter worth approximately $39,000. GF Fund Management CO. LTD. purchased a new stake in Four Corners Property Trust in the 4th quarter worth approximately $46,000. Finally, Synergy Investment Management LLC purchased a new stake in shares of Four Corners Property Trust during the 4th quarter valued at $48,000. Institutional investors own 98.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. UBS Group cut their price target 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. Wells Fargo & Company dropped 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 research note on Monday, June 2nd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.40.

Four Corners Property Trust Stock Up 1.5%

FCPT stock opened at $27.79 on Tuesday. 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, Inc. has a 52 week low of $23.76 and a 52 week high of $30.93. The firm has a 50 day moving average of $27.49 and a 200 day moving average of $27.87. The stock has a market capitalization of $2.79 billion, a PE ratio of 25.97 and a beta of 0.86.

Four Corners Property Trust (NYSE:FCPT) last issued 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. The company had revenue of $71.48 million during the quarter, compared to analyst estimates of $67.17 million. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 EPS. Sell-side analysts forecast that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the chief accounting officer now owns 31,204 shares of the company’s stock, valued at $851,245.12. This represents a 22.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John S. Moody sold 7,667 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $27.42, for a total transaction of $210,229.14. Following the sale, the director now directly owns 53,821 shares of the company’s stock, valued at approximately $1,475,771.82. This trade represents a 12.47% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

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.