Four Corners Property Trust, Inc. $FCPT Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd cut its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 17.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 16,003 shares of the financial services provider’s stock after selling 3,370 shares during the period. IFM Investors Pty Ltd’s holdings in Four Corners Property Trust were worth $431,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FCPT. Massachusetts Financial Services Co. MA acquired a new position in shares of Four Corners Property Trust during the first quarter worth $33,515,000. Nuveen LLC acquired a new position in Four Corners Property Trust in the 1st quarter worth $18,291,000. Cbre Investment Management Listed Real Assets LLC boosted its position in Four Corners Property Trust by 63.1% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,342,834 shares of the financial services provider’s stock valued at $38,539,000 after buying an additional 519,633 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Four Corners Property Trust during the first quarter valued at about $14,350,000. Finally, Vanguard Group Inc. increased its position in shares of Four Corners Property Trust by 3.7% during the first quarter. Vanguard Group Inc. now owns 11,275,334 shares of the financial services provider’s stock worth $323,602,000 after acquiring an additional 400,396 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Insider Transactions at Four Corners Property Trust

In related news, CEO William H. Lenehan acquired 7,850 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was bought at an average price of $25.40 per share, for a total transaction of $199,390.00. Following the transaction, the chief executive officer owned 698,426 shares of the company’s stock, valued at approximately $17,740,020.40. The trade was a 1.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Niccole Stewart sold 3,950 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $25.30, for a total transaction of $99,935.00. Following the completion of the transaction, the chief accounting officer owned 27,502 shares of the company’s stock, valued at approximately $695,800.60. The trade was a 12.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on FCPT. Wells Fargo & Company restated 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 note on Thursday, September 11th. Barclays reduced their target price on Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 20th. UBS Group lifted their price target on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, August 15th. Finally, Raymond James Financial cut their price target on shares of Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Four Corners Property Trust has a consensus rating of “Hold” and a consensus target price of $29.00.

Four Corners Property Trust Price Performance

Shares of NYSE:FCPT opened at $24.66 on Wednesday. The company has a market cap of $2.58 billion, a PE ratio of 22.83 and a beta of 0.86. Four Corners Property Trust, Inc. has a fifty-two week low of $24.61 and a fifty-two week high of $30.12. The firm has a 50-day simple moving average of $25.76 and a 200 day simple moving average of $26.93. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.39.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share for the quarter, beating 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 firm had revenue of $72.84 million for the quarter, compared to the consensus estimate of $70.27 million. During the same period last year, the firm posted $0.43 EPS. Four Corners Property Trust’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.355 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.42 annualized dividend and a yield of 5.8%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 131.48%.

Four Corners Property Trust Company 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.