Asset Management One Co. Ltd. Sells 6,149 Shares of Four Corners Property Trust, Inc. $FCPT

Asset Management One Co. Ltd. reduced its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 2.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 269,036 shares of the financial services provider’s stock after selling 6,149 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Four Corners Property Trust were worth $7,240,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its stake in Four Corners Property Trust by 9.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,551 shares of the financial services provider’s stock worth $274,000 after purchasing an additional 796 shares during the last quarter. KBC Group NV grew its holdings in Four Corners Property Trust by 40.8% during the 1st quarter. KBC Group NV now owns 5,212 shares of the financial services provider’s stock worth $150,000 after acquiring an additional 1,510 shares during the period. GAMMA Investing LLC grew its holdings in 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. Allspring Global Investments Holdings LLC grew its holdings in Four Corners Property Trust by 3.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 32,363 shares of the financial services provider’s stock worth $879,000 after acquiring an additional 1,192 shares during the period. Finally, Retirement Planning Co of New England Inc. acquired a new stake in Four Corners Property Trust during the 1st quarter worth about $437,000. 98.66% of the stock is currently owned by institutional investors.

Four Corners Property Trust Trading Down 0.5%

Shares of FCPT stock opened at $24.35 on Tuesday. The company has a 50 day moving average of $25.00 and a 200-day moving average of $26.32. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.39. Four Corners Property Trust, Inc. has a 12-month low of $23.64 and a 12-month high of $30.12. The firm has a market cap of $2.54 billion, a P/E ratio of 22.54 and a beta of 0.87.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. Four Corners Property Trust had a net margin of 37.87% and a return on equity of 7.40%. The business had revenue of $72.84 million during the quarter, compared to analyst estimates of $70.27 million. During the same period in the previous year, the business earned $0.43 EPS. Four Corners Property Trust’s revenue was up 9.6% compared to the same quarter last year. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Tuesday, September 30th. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 131.48%.

Analyst Ratings Changes

A number of research firms have recently issued reports on FCPT. Wells Fargo & Company reissued an “equal weight” rating and set a $27.00 price objective (down previously from $29.00) on shares of Four Corners Property Trust in a research report on Thursday, September 11th. UBS Group raised their price target on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Tuesday, October 14th. Wall Street Zen raised shares of Four Corners Property Trust from a “sell” rating to a “hold” rating in a research report on Sunday, October 19th. Finally, Raymond James Financial dropped their price target on shares of Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Two equities research 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 has a consensus rating of “Hold” and an average price target of $28.75.

Insider Buying and Selling 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 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 $695,800.60. This trade represents a 12.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William H. Lenehan purchased 7,850 shares of the business’s stock in a transaction on Friday, September 12th. The stock was purchased at an average cost of $25.40 per share, with a total value of $199,390.00. Following the completion of the acquisition, the chief executive officer owned 698,426 shares in the company, valued at approximately $17,740,020.40. This trade represents a 1.14% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is owned by company insiders.

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.