Rhumbline Advisers Reduces Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Rhumbline Advisers cut its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 312,601 shares of the financial services provider’s stock after selling 6,966 shares during the period. Rhumbline Advisers owned approximately 0.31% of Four Corners Property Trust worth $8,972,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in shares of Four Corners Property Trust by 234.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the financial services provider’s stock valued at $32,000 after buying an additional 817 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Four Corners Property Trust by 165.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,379 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 860 shares during the period. VSM Wealth Advisory LLC bought a new position in Four Corners Property Trust in the fourth quarter valued at about $39,000. GF Fund Management CO. LTD. bought a new position in Four Corners Property Trust in the fourth quarter valued at about $46,000. Finally, Synergy Investment Management LLC bought a new position in Four Corners Property Trust in the fourth quarter valued at about $48,000. 98.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. UBS Group lowered 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. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Finally, Wells Fargo & Company lowered their target price 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. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Four Corners Property Trust currently has an average rating of “Moderate Buy” and an average target price of $29.40.

Four Corners Property Trust Stock Performance

NYSE:FCPT opened at $27.62 on Wednesday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.36. Four Corners Property Trust, Inc. has a 12-month low of $23.88 and a 12-month high of $30.93. The stock has a 50-day moving average price of $27.48 and a 200 day moving average price of $27.87. The stock has a market capitalization of $2.78 billion, a P/E ratio of 25.82 and a beta of 0.86.

Four Corners Property Trust (NYSE:FCPT) last released 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 return on equity of 7.54% and a net margin of 37.48%. The firm had revenue of $71.48 million during the quarter, compared to analysts’ expectations of $67.17 million. During the same quarter last year, the business posted $0.43 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. Equities research analysts forecast that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 5.14%. The ex-dividend date of this dividend is Monday, June 30th. Four Corners Property Trust’s dividend payout ratio is currently 132.71%.

Insider Buying and Selling

In other Four Corners Property Trust 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 in the company, valued at $851,245.12. This trade represents a 22.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John S. Moody sold 7,667 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 53,821 shares of the company’s stock, valued at $1,475,771.82. This represents a 12.47% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

Four Corners Property Trust 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.