Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 0.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 155,165 shares of the financial services provider’s stock after selling 1,200 shares during the period. New York State Teachers Retirement System owned 0.16% of Four Corners Property Trust worth $4,453,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake in 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 worth $32,000 after buying an additional 817 shares during the period. Smartleaf Asset Management LLC boosted its stake in Four Corners Property Trust by 165.7% during the fourth 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 position in Four Corners Property Trust during the fourth quarter worth about $39,000. GF Fund Management CO. LTD. purchased a new position in Four Corners Property Trust during the fourth quarter worth about $46,000. Finally, Quarry LP purchased a new position in Four Corners Property Trust during the fourth quarter worth about $49,000. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FCPT. Wells Fargo & Company lowered their target price on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday, June 2nd. UBS Group lowered their target price on shares of Four Corners Property Trust from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Four Corners Property Trust presently has an average rating of “Moderate Buy” and an average target price of $29.40.

Insider Activity at Four Corners Property Trust

In related news, 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 sale, the director owned 53,821 shares of the company’s stock, valued at $1,475,771.82. This trade represents a 12.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Niccole Stewart sold 9,100 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief accounting officer directly owned 31,204 shares in the company, valued at approximately $851,245.12. This trade represents a 22.58% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Four Corners Property Trust Trading Up 0.3%

NYSE FCPT opened at $27.18 on Monday. The firm has a 50 day simple moving average of $27.42 and a 200-day simple moving average of $27.66. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.14 and a current ratio of 0.14. Four Corners Property Trust, Inc. has a one year low of $24.42 and a one year high of $30.93. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 25.40 and a beta of 0.84.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.44 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $67.17 million. During the same quarter last year, the firm posted $0.43 earnings per share. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities research analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.355 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.42 annualized dividend and a yield of 5.22%. Four Corners Property Trust’s dividend payout ratio (DPR) is 132.71%.

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.