Assetmark Inc. Makes New $463,000 Investment in Four Corners Property Trust, Inc. $FCPT

Assetmark Inc. bought a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,200 shares of the financial services provider’s stock, valued at approximately $463,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Trust Co. of Toledo NA OH purchased a new position in shares of Four Corners Property Trust in the 2nd quarter worth approximately $27,000. Costello Asset Management INC purchased a new position in Four Corners Property Trust in the first quarter worth $40,000. Brooklyn Investment Group boosted its position in Four Corners Property Trust by 1,389.5% in the first quarter. Brooklyn Investment Group now owns 1,698 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 1,584 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Four Corners Property Trust in the 1st quarter valued at $77,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Four Corners Property Trust by 106.3% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,845 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 1,466 shares during the last quarter. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Four Corners Property Trust Trading Up 1.8%

Shares of FCPT stock opened at $24.17 on Friday. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 22.17 and a beta of 0.88. The company’s fifty day simple moving average is $24.65 and its two-hundred day simple moving average is $26.09. Four Corners Property Trust, Inc. has a 1 year low of $23.05 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.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.04%.The firm had revenue of $74.15 million during the quarter, compared to analyst estimates of $71.86 million. During the same period last year, the company earned $0.43 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.355 per share. The ex-dividend date was Tuesday, September 30th. This represents a $1.42 annualized dividend and a dividend yield of 5.9%. Four Corners Property Trust’s dividend payout ratio is currently 130.28%.

Insider Activity

In other news, Director Douglas B. Hansen purchased 1,984 shares of the business’s stock in a transaction on Friday, October 31st. The stock was purchased at an average cost of $23.64 per share, with a total value of $46,901.76. Following the acquisition, the director directly owned 78,247 shares in the company, valued at approximately $1,849,759.08. This trade represents a 2.60% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William H. Lenehan purchased 7,850 shares of Four Corners Property Trust stock in a transaction dated Friday, September 12th. The shares were purchased at an average price of $25.40 per share, with a total value of $199,390.00. Following the completion of the transaction, the chief executive officer directly owned 698,426 shares in the company, valued at approximately $17,740,020.40. This represents a 1.14% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FCPT shares. Barclays reduced their price target on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Monday, October 20th. Robert W. Baird set a $29.00 target price on shares of Four Corners Property Trust in a research report on Wednesday, October 29th. Wells Fargo & Company reaffirmed 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 upped their price objective on Four Corners Property Trust from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Finally, Raymond James Financial decreased their target price on 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. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Four Corners Property Trust currently has an average rating of “Hold” and an average price target of $28.80.

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.