Intech Investment Management LLC Sells 3,199 Shares of Four Corners Property Trust, Inc. $FCPT

Intech Investment Management LLC decreased its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 4.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 69,328 shares of the financial services provider’s stock after selling 3,199 shares during the quarter. Intech Investment Management LLC owned about 0.07% of Four Corners Property Trust worth $1,990,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Four Corners Property Trust by 9.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,551 shares of the financial services provider’s stock worth $274,000 after buying an additional 796 shares during the period. KBC Group NV grew its position in shares of Four Corners Property Trust by 40.8% during the 1st quarter. KBC Group NV now owns 5,212 shares of the financial services provider’s stock worth $150,000 after buying an additional 1,510 shares during the period. GAMMA Investing LLC grew its position in Four Corners Property Trust by 23.6% in the 1st quarter. GAMMA Investing LLC now owns 6,457 shares of the financial services provider’s stock valued at $185,000 after purchasing an additional 1,231 shares during the period. Asset Management One Co. Ltd. grew its position in Four Corners Property Trust by 9.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 275,185 shares of the financial services provider’s stock valued at $7,898,000 after purchasing an additional 23,884 shares during the period. Finally, Retirement Planning Co of New England Inc. acquired a new stake in Four Corners Property Trust in the 1st quarter valued at $437,000. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Trading Down 1.1%

Shares of Four Corners Property Trust stock opened at $25.35 on Wednesday. Four Corners Property Trust, Inc. has a 52-week low of $25.00 and a 52-week high of $30.93. The stock’s 50-day simple moving average is $25.91 and its 200 day simple moving average is $27.07. The stock has a market capitalization of $2.65 billion, a P/E ratio of 23.47 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 data on Tuesday, July 29th. 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 return on equity of 7.40% and a net margin of 37.87%.The business had revenue of $72.84 million for the quarter, compared to analysts’ expectations of $70.27 million. During the same period in the previous year, the business posted $0.43 EPS. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, research analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Tuesday, September 30th. Four Corners Property Trust’s payout ratio is currently 131.48%.

Wall Street Analyst Weigh In

FCPT has been the subject of several research reports. UBS Group lifted their price target 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. Barclays reduced their price target on shares of Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 20th. Raymond James Financial reduced their price target on shares of Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $27.00 price objective (down from $29.00) on shares of Four Corners Property Trust in a report on Thursday, September 11th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $29.00.

Insider Transactions at Four Corners Property Trust

In related news, CEO William H. Lenehan bought 7,850 shares of Four Corners Property Trust stock in a transaction on Friday, September 12th. The stock was acquired at an average price of $25.40 per share, with a total value of $199,390.00. Following the acquisition, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Niccole Stewart sold 3,950 shares of Four Corners Property Trust stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $25.30, for a total value of $99,935.00. Following the transaction, the chief accounting officer directly owned 27,502 shares of the company’s stock, valued at $695,800.60. The trade was a 12.56% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by 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.