Bank of New York Mellon Corp Purchases 41,471 Shares of Four Corners Property Trust, Inc. $FCPT

Bank of New York Mellon Corp boosted its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 4.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 915,445 shares of the financial services provider’s stock after purchasing an additional 41,471 shares during the quarter. Bank of New York Mellon Corp owned about 0.88% of Four Corners Property Trust worth $24,635,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Bank of Montreal Can lifted its stake in shares of Four Corners Property Trust by 3.1% in the second quarter. Bank of Montreal Can now owns 18,912 shares of the financial services provider’s stock valued at $509,000 after buying an additional 568 shares in the last quarter. Versor Investments LP acquired a new stake in shares of Four Corners Property Trust in the 2nd quarter worth about $678,000. Assetmark Inc. bought a new position in Four Corners Property Trust in the 2nd quarter valued at about $463,000. Hantz Financial Services Inc. boosted its stake in Four Corners Property Trust by 1,972.6% during the 2nd quarter. Hantz Financial Services Inc. now owns 10,902 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 10,376 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in Four Corners Property Trust by 102.0% during the 2nd quarter. Jennison Associates LLC now owns 36,912 shares of the financial services provider’s stock valued at $993,000 after purchasing an additional 18,643 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Stock Up 0.3%

Shares of NYSE:FCPT opened at $24.19 on Friday. 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 market capitalization of $2.57 billion, a PE ratio of 22.19 and a beta of 0.88. The business has a fifty day moving average price of $24.48 and a two-hundred day moving average price of $25.94. 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 issued its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. Four Corners Property Trust had a net margin of 38.04% and a return on equity of 7.39%. The company had revenue of $74.15 million for the quarter, compared to the consensus estimate of $71.86 million. During the same period in the previous year, the firm earned $0.43 EPS. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. Analysts forecast that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.3665 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.47 dividend on an annualized basis and a dividend yield of 6.1%. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.36. Four Corners Property Trust’s payout ratio is currently 130.28%.

Analyst Ratings Changes

A number of research firms have recently weighed in on FCPT. Weiss Ratings restated a “hold (c)” rating on shares of Four Corners Property Trust in a report on Tuesday, October 14th. Raymond James Financial dropped their price objective on Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. Barclays reduced their target price 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 note on Monday, October 20th. UBS Group increased their target price on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, August 15th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $27.00 price target (down from $29.00) on shares of Four Corners Property Trust in a report on Thursday, September 11th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $28.80.

Insider Transactions at Four Corners Property Trust

In other Four Corners Property Trust news, CAO Niccole Stewart sold 3,950 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $25.30, for a total value of $99,935.00. Following the completion of the sale, the chief accounting officer directly owned 27,502 shares of the company’s stock, valued at $695,800.60. This trade represents a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO William H. Lenehan bought 7,850 shares of the stock in a transaction on Friday, September 12th. The stock was purchased at an average price of $25.40 per share, for a total transaction of $199,390.00. Following the completion of the purchase, the chief executive officer owned 698,426 shares of the company’s stock, valued at approximately $17,740,020.40. This trade represents a 1.14% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.20% of the stock is currently owned by company 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.