Four Corners Property Trust, Inc. $FCPT Shares Acquired by Swiss National Bank

Swiss National Bank raised its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 2.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 187,407 shares of the financial services provider’s stock after acquiring an additional 5,200 shares during the quarter. Swiss National Bank owned 0.19% of Four Corners Property Trust worth $5,379,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FCPT. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Four Corners Property Trust by 7.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 67,906 shares of the financial services provider’s stock worth $1,949,000 after buying an additional 4,500 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Four Corners Property Trust by 13.6% during the 1st quarter. Deutsche Bank AG now owns 720,943 shares of the financial services provider’s stock worth $20,691,000 after buying an additional 86,379 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Four Corners Property Trust by 3.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,661,915 shares of the financial services provider’s stock worth $47,697,000 after buying an additional 48,937 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Four Corners Property Trust by 3.7% during the 1st 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 during the last quarter. Finally, Costello Asset Management INC acquired a new position in shares of Four Corners Property Trust during the 1st quarter worth $40,000. Institutional investors and hedge funds own 98.66% of the company’s stock.

Analysts Set New Price Targets

FCPT has been the subject of a number of recent research reports. UBS Group lifted their price objective on Four Corners Property Trust from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday. Wells Fargo & Company lowered their price target on Four Corners Property Trust from $31.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, June 2nd. Finally, Raymond James Financial lowered their price target on Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.60.

Insider Activity

In other news, Director John S. Moody sold 7,667 shares of the business’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $27.42, for a total transaction of $210,229.14. Following the completion of the sale, the director owned 53,821 shares in the company, valued at approximately $1,475,771.82. The trade was a 12.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

Four Corners Property Trust Stock Down 1.1%

Shares of NYSE:FCPT opened at $25.16 on Tuesday. 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, Inc. has a 1 year low of $25.00 and a 1 year high of $30.93. The stock has a market capitalization of $2.63 billion, a P/E ratio of 23.30 and a beta of 0.83. The stock has a 50-day simple moving average of $26.55 and a 200-day simple moving average of $27.39.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $70.27 million. During the same quarter in the previous year, the business earned $0.43 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities analysts forecast that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.355 per share. The ex-dividend date was Monday, June 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.6%. Four Corners Property Trust’s payout ratio is presently 131.48%.

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.