Sophron Capital Management L.P. Purchases Shares of 180,572 Four Corners Property Trust, Inc. (NYSE:FCPT)

Sophron Capital Management L.P. acquired a new position in Four Corners Property Trust, Inc. (NYSE:FCPT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 180,572 shares of the financial services provider’s stock, valued at approximately $4,901,000. Four Corners Property Trust comprises approximately 1.9% of Sophron Capital Management L.P.’s holdings, making the stock its 22nd biggest position. Sophron Capital Management L.P. owned about 0.19% of Four Corners Property Trust as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. 1620 Investment Advisors Inc. raised its stake in Four Corners Property Trust by 4.1% during the 4th quarter. 1620 Investment Advisors Inc. now owns 9,138 shares of the financial services provider’s stock valued at $248,000 after purchasing an additional 363 shares during the last quarter. Arizona State Retirement System raised its position in shares of Four Corners Property Trust by 1.5% during the fourth quarter. Arizona State Retirement System now owns 26,893 shares of the financial services provider’s stock valued at $730,000 after buying an additional 406 shares during the last quarter. Mariner LLC lifted its stake in shares of Four Corners Property Trust by 2.8% in the fourth quarter. Mariner LLC now owns 17,098 shares of the financial services provider’s stock valued at $464,000 after buying an additional 467 shares during the period. Oppenheimer Asset Management Inc. grew its position in Four Corners Property Trust by 1.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 45,170 shares of the financial services provider’s stock worth $1,226,000 after buying an additional 469 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its position in Four Corners Property Trust by 4.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 12,988 shares of the financial services provider’s stock worth $357,000 after buying an additional 504 shares in the last quarter. 98.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FCPT shares. Wells Fargo & Company lifted their price objective on Four Corners Property Trust from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, March 10th. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Barclays lowered their target price on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Finally, UBS Group cut their price target on shares of Four Corners Property Trust from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Four Corners Property Trust currently has a consensus rating of “Moderate Buy” and an average price target of $29.60.

Insider Activity

In related news, CAO Niccole Stewart sold 9,100 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $27.28, for a total value of $248,248.00. Following the transaction, the chief accounting officer now directly owns 31,204 shares in the company, valued at $851,245.12. This represents a 22.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.20% of the stock is owned by insiders.

Four Corners Property Trust Stock Performance

NYSE FCPT opened at $27.58 on Monday. Four Corners Property Trust, Inc. has a 1-year low of $23.70 and a 1-year high of $30.93. The company has a 50 day moving average of $27.78 and a 200-day moving average of $27.97. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.36. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 25.78 and a beta of 0.86.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $71.48 million for the quarter, compared to the consensus estimate of $67.17 million. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 EPS. On average, equities analysts forecast that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.355 per share. The ex-dividend date was Monday, March 31st. This represents a $1.42 annualized dividend and a dividend yield of 5.15%. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 132.71%.

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.