Wambolt & Associates LLC Buys 2,347 Shares of Four Corners Property Trust Inc (NYSE:FCPT)

Wambolt & Associates LLC increased its stake in shares of Four Corners Property Trust Inc (NYSE:FCPT) by 8.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,801 shares of the financial services provider’s stock after purchasing an additional 2,347 shares during the quarter. Wambolt & Associates LLC’s holdings in Four Corners Property Trust were worth $814,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FCPT. Royal London Asset Management Ltd. acquired a new stake in Four Corners Property Trust in the first quarter worth $26,000. Marshall Wace North America L.P. raised its holdings in Four Corners Property Trust by 37.8% in the first quarter. Marshall Wace North America L.P. now owns 2,328 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 638 shares during the period. Osborn Williams & Donohoe LLC acquired a new stake in Four Corners Property Trust in the first quarter worth $101,000. Raymond James Trust N.A. acquired a new stake in Four Corners Property Trust in the first quarter worth $206,000. Finally, Fox Run Management L.L.C. acquired a new stake in Four Corners Property Trust in the second quarter worth $208,000. 89.88% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:FCPT traded up $0.09 during midday trading on Wednesday, reaching $27.26. 9,568 shares of the company were exchanged, compared to its average volume of 430,079. Four Corners Property Trust Inc has a fifty-two week low of $24.58 and a fifty-two week high of $29.85. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.77 and a current ratio of 3.77. The stock’s fifty day moving average price is $27.51. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 19.28 and a beta of 0.18.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.10). Four Corners Property Trust had a return on equity of 10.75% and a net margin of 48.31%. The company had revenue of $39.57 million for the quarter, compared to analyst estimates of $40.64 million. During the same quarter in the previous year, the business earned $0.35 earnings per share. The company’s revenue was up 14.1% on a year-over-year basis. As a group, analysts expect that Four Corners Property Trust Inc will post 1.44 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.287 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.21%. Four Corners Property Trust’s payout ratio is 81.56%.

Several equities research analysts have weighed in on the stock. Boenning Scattergood reiterated a “buy” rating and issued a $30.00 target price on shares of Four Corners Property Trust in a report on Wednesday, April 24th. Janney Montgomery Scott assumed coverage on shares of Four Corners Property Trust in a report on Friday, June 21st. They issued a “buy” rating and a $32.00 target price on the stock. Barclays assumed coverage on shares of Four Corners Property Trust in a report on Wednesday, May 15th. They issued an “equal weight” rating and a $29.00 target price on the stock. ValuEngine lowered shares of Four Corners Property Trust from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, Berenberg Bank upgraded shares of Four Corners Property Trust from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $31.40.

Four Corners Property Trust Profile

FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio primarily by acquiring additional real estate to lease, on a net basis, for use in the restaurant and food industry.

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Institutional Ownership by Quarter for Four Corners Property Trust (NYSE:FCPT)

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