Boston Trust Walden Corp Decreases Stake in Four Corners Property Trust, Inc. $FCPT

Boston Trust Walden Corp lowered its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 2.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,542,725 shares of the financial services provider’s stock after selling 35,885 shares during the period. Boston Trust Walden Corp’s holdings in Four Corners Property Trust were worth $41,515,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FCPT. Wealth Enhancement Advisory Services LLC lifted its holdings in Four Corners Property Trust by 5.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,755 shares of the financial services provider’s stock valued at $238,000 after purchasing an additional 450 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Four Corners Property Trust by 23.6% during the 1st quarter. GAMMA Investing LLC now owns 6,457 shares of the financial services provider’s stock worth $185,000 after acquiring an additional 1,231 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of Four Corners Property Trust by 37.1% during the 1st quarter. Exchange Traded Concepts LLC now owns 115,855 shares of the financial services provider’s stock worth $3,325,000 after acquiring an additional 31,369 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of Four Corners Property Trust by 1.0% during the 1st quarter. State of Alaska Department of Revenue now owns 102,162 shares of the financial services provider’s stock worth $2,930,000 after acquiring an additional 993 shares during the period. Finally, Longboard Asset Management LP purchased a new position in shares of Four Corners Property Trust during the 1st quarter worth $209,000. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Analyst Upgrades and Downgrades

FCPT has been the topic of several analyst reports. Wells Fargo & Company reiterated an “equal weight” rating and set a $27.00 price target (down previously from $29.00) on shares of Four Corners Property Trust in a report on Thursday, September 11th. Wall Street Zen lowered Four Corners Property Trust from a “hold” rating to a “sell” rating in a report on Saturday. Raymond James Financial reduced their price target on Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Four Corners Property Trust in a report on Tuesday. Finally, UBS Group lifted their price target on Four Corners Property Trust from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Four Corners Property Trust presently has an average rating of “Hold” and an average target price of $29.00.

Four Corners Property Trust Stock Up 1.1%

Shares of NYSE:FCPT opened at $24.10 on Wednesday. The business has a 50-day moving average price of $25.18 and a 200 day moving average price of $26.51. 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 company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 22.31 and a beta of 0.87. Four Corners Property Trust, Inc. has a 12-month low of $23.64 and a 12-month high of $30.12.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The firm had revenue of $72.84 million during 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%.The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the company earned $0.43 EPS. Sell-side analysts expect that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Four Corners Property Trust’s payout ratio is currently 131.48%.

Insider Activity

In other news, CEO William H. Lenehan bought 7,850 shares of the company’s stock in a transaction on Friday, September 12th. The stock was bought at an average cost of $25.40 per share, with a total value of $199,390.00. Following the transaction, the chief executive officer directly owned 698,426 shares in the company, valued at $17,740,020.40. The trade was a 1.14% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Niccole Stewart sold 3,950 shares of Four Corners Property Trust stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $25.30, for a total value of $99,935.00. Following the completion of the transaction, the chief accounting officer directly owned 27,502 shares of the company’s stock, valued at approximately $695,800.60. This represents a 12.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Four Corners Property Trust Company 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.