Allianz Asset Management GmbH Buys 1,206 Shares of Four Corners Property Trust, Inc. $FCPT

Allianz Asset Management GmbH lifted its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 2.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,511 shares of the financial services provider’s stock after purchasing an additional 1,206 shares during the quarter. Allianz Asset Management GmbH owned 0.06% of Four Corners Property Trust worth $1,548,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. New York State Teachers Retirement System boosted its stake in Four Corners Property Trust by 5.2% during the second quarter. New York State Teachers Retirement System now owns 163,244 shares of the financial services provider’s stock worth $4,393,000 after buying an additional 8,079 shares during the period. Verdence Capital Advisors LLC lifted its stake in Four Corners Property Trust by 4.9% in the second quarter. Verdence Capital Advisors LLC now owns 19,388 shares of the financial services provider’s stock worth $522,000 after acquiring an additional 897 shares during the period. Yousif Capital Management LLC raised its holdings in Four Corners Property Trust by 2.0% in the second quarter. Yousif Capital Management LLC now owns 37,370 shares of the financial services provider’s stock worth $1,006,000 after purchasing an additional 716 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Four Corners Property Trust by 3.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 32,363 shares of the financial services provider’s stock worth $879,000 after purchasing an additional 1,192 shares in the last quarter. Finally, Meritage Portfolio Management raised its holdings in Four Corners Property Trust by 4.3% in the second quarter. Meritage Portfolio Management now owns 17,262 shares of the financial services provider’s stock worth $465,000 after purchasing an additional 714 shares in the last quarter. 98.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FCPT. Wells Fargo & Company reiterated an “equal weight” rating and issued a $27.00 price target (down previously from $29.00) on shares of Four Corners Property Trust in a report on Thursday, September 11th. UBS Group raised 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, August 15th. Raymond James Financial decreased their price objective on Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. Barclays decreased their target price on Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Monday, October 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Four Corners Property Trust in a report on Tuesday, October 14th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $28.75.

Insider Buying and Selling at Four Corners Property Trust

In other news, CEO William H. Lenehan purchased 7,850 shares of the stock in a transaction dated Friday, September 12th. The shares were bought at an average cost of $25.40 per share, for a total transaction of $199,390.00. Following the transaction, the chief executive officer owned 698,426 shares in the company, valued at $17,740,020.40. This trade represents a 1.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Niccole Stewart sold 3,950 shares of Four Corners Property Trust stock in a transaction on 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 owned 27,502 shares in the company, valued at approximately $695,800.60. This trade represents 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 owned by insiders.

Four Corners Property Trust Price Performance

Shares of NYSE FCPT opened at $24.46 on Friday. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 22.65 and a beta of 0.87. Four Corners Property Trust, Inc. has a 1-year low of $23.64 and a 1-year high of $30.12. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.12 and a quick ratio of 0.12. The business has a 50-day moving average of $25.02 and a 200-day moving average of $26.34.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Tuesday, July 29th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $72.84 million for the quarter, compared to the consensus estimate of $70.27 million. Four Corners Property Trust had a return on equity of 7.40% and a net margin of 37.87%.Four Corners Property Trust’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.43 EPS. On average, equities analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

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

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.