Amundi Increases Stake in Four Corners Property Trust, Inc. $FCPT

Amundi increased its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 8.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,074 shares of the financial services provider’s stock after buying an additional 4,482 shares during the quarter. Amundi owned 0.06% of Four Corners Property Trust worth $1,648,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV bought a new stake in Four Corners Property Trust during the 4th quarter worth approximately $204,000. D. E. Shaw & Co. Inc. bought a new stake in Four Corners Property Trust during the 4th quarter worth approximately $206,000. Lazard Asset Management LLC raised its stake in Four Corners Property Trust by 45.2% during the 4th quarter. Lazard Asset Management LLC now owns 43,931 shares of the financial services provider’s stock worth $1,192,000 after acquiring an additional 13,683 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Four Corners Property Trust by 9.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,908 shares of the financial services provider’s stock worth $1,490,000 after acquiring an additional 4,729 shares during the period. Finally, Nissay Asset Management Corp Japan ADV raised its stake in Four Corners Property Trust by 4.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 12,988 shares of the financial services provider’s stock worth $357,000 after acquiring an additional 504 shares during the period. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Stock Performance

Shares of FCPT opened at $25.45 on Friday. The company’s fifty day moving average is $25.97 and its 200 day moving average is $27.12. Four Corners Property Trust, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $30.93. The stock has a market capitalization of $2.66 billion, a PE ratio of 23.57 and a beta of 0.86. 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 (NYSE:FCPT) last announced its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. Four Corners Property Trust had a net margin of 37.87% and a return on equity of 7.40%. The company had revenue of $72.84 million for the quarter, compared to analysts’ expectations of $70.27 million. During the same quarter in the previous year, the business posted $0.43 earnings per share. Four Corners Property Trust’s quarterly revenue was up 9.6% on a year-over-year basis. Sell-side analysts expect that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FCPT has been the topic of a number of recent analyst reports. Barclays decreased their target price on shares of Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 20th. UBS Group lifted their price objective on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Wells Fargo & Company reiterated an “equal weight” rating and set a $27.00 price objective (down previously from $29.00) on shares of Four Corners Property Trust in a research report on Thursday. Finally, Raymond James Financial reduced their price objective on shares of Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $29.00.

Insider Buying and Selling

In other news, CEO William H. Lenehan acquired 7,850 shares of the company’s stock in a transaction on Friday, September 12th. The stock was bought at an average cost of $25.40 per share, with a total value of $199,390.00. Following the completion of the purchase, the chief executive officer directly owned 698,426 shares of the company’s stock, valued at $17,740,020.40. This represents a 1.14% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by insiders.

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.