Bank of New York Mellon Corp Has $25.08 Million Stake in Four Corners Property Trust, Inc. (NYSE:FCPT)

Bank of New York Mellon Corp reduced its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 873,974 shares of the financial services provider’s stock after selling 17,451 shares during the period. Bank of New York Mellon Corp owned 0.87% of Four Corners Property Trust worth $25,083,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of FCPT. Raymond James Financial Inc. bought a new stake in Four Corners Property Trust in the 4th quarter valued at about $12,845,000. Amundi boosted its stake in shares of Four Corners Property Trust by 5.3% in the 4th quarter. Amundi now owns 53,592 shares of the financial services provider’s stock valued at $1,441,000 after purchasing an additional 2,679 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Four Corners Property Trust by 4.8% in the 4th quarter. HighTower Advisors LLC now owns 16,288 shares of the financial services provider’s stock valued at $442,000 after purchasing an additional 750 shares during the last quarter. 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 acquiring an additional 817 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its stake in Four Corners Property Trust by 1.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 43,434 shares of the financial services provider’s stock worth $1,179,000 after acquiring an additional 736 shares in the last quarter. Institutional investors own 98.66% of the company’s stock.

Insider Transactions at Four Corners Property Trust

In other Four Corners Property Trust news, Director John S. Moody sold 7,667 shares of the company’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $27.42, for a total transaction of $210,229.14. Following the transaction, the director owned 53,821 shares in the company, valued at approximately $1,475,771.82. This represents a 12.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

FCPT has been the subject of several analyst reports. 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 report on Tuesday, May 13th. Wells Fargo & Company cut their price objective on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, June 2nd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.40.

Four Corners Property Trust Stock Up 0.4%

Shares of NYSE FCPT opened at $26.35 on Thursday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.40. Four Corners Property Trust, Inc. has a 52 week low of $25.01 and a 52 week high of $30.93. The firm’s fifty day moving average is $27.22 and its 200 day moving average is $27.62. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 24.63 and a beta of 0.84.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $67.17 million. During the same period in the previous year, the firm earned $0.43 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts expect that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date was Monday, June 30th. Four Corners Property Trust’s payout ratio is 132.71%.

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.