Four Corners Property Trust, Inc. $FCPT Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. boosted its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 50.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 241,450 shares of the financial services provider’s stock after acquiring an additional 81,173 shares during the period. Edgestream Partners L.P. owned about 0.23% of Four Corners Property Trust worth $6,497,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Four Corners Property Trust during the second quarter worth about $2,317,000. Hsbc Holdings PLC lifted its stake in Four Corners Property Trust by 12.3% in the 2nd quarter. Hsbc Holdings PLC now owns 193,968 shares of the financial services provider’s stock valued at $5,195,000 after buying an additional 21,319 shares in the last quarter. B&I Capital AG boosted its holdings in Four Corners Property Trust by 2.3% in the 2nd quarter. B&I Capital AG now owns 223,100 shares of the financial services provider’s stock worth $6,004,000 after buying an additional 5,100 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Four Corners Property Trust in the 2nd quarter worth about $37,000. Finally, Inceptionr LLC purchased a new stake in Four Corners Property Trust during the 2nd quarter worth approximately $549,000. 98.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Four Corners Property Trust Price Performance

Four Corners Property Trust stock opened at $23.63 on Wednesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.39. The stock has a market cap of $2.51 billion, a P/E ratio of 21.68 and a beta of 0.86. The company has a 50-day moving average price of $24.11 and a 200 day moving average price of $25.62. Four Corners Property Trust, Inc. has a 12-month low of $23.05 and a 12-month high of $29.81.

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

Four Corners Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $0.3665 dividend. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.47 annualized dividend and a dividend yield of 6.2%. Four Corners Property Trust’s dividend payout ratio is currently 130.28%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FCPT. Robert W. Baird set a $29.00 target price on Four Corners Property Trust in a research report on Wednesday, October 29th. Barclays decreased their price objective on Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Monday, October 20th. UBS Group upped their target price on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Wells Fargo & Company decreased their price target on shares of Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Tuesday, October 14th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $28.40.

About Four Corners Property Trust

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.