Four Corners Property Trust, Inc. $FCPT Shares Acquired by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP lifted its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 42.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,443,164 shares of the financial services provider’s stock after purchasing an additional 433,108 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Four Corners Property Trust were worth $38,836,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Inspire Investing LLC increased its holdings in shares of Four Corners Property Trust by 2.2% in the second quarter. Inspire Investing LLC now owns 17,495 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 383 shares during the period. Bank of Montreal Can grew its position in Four Corners Property Trust by 3.1% during the second quarter. Bank of Montreal Can now owns 18,912 shares of the financial services provider’s stock valued at $509,000 after buying an additional 568 shares during the period. California State Teachers Retirement System grew its position in Four Corners Property Trust by 0.7% during the second quarter. California State Teachers Retirement System now owns 94,900 shares of the financial services provider’s stock valued at $2,554,000 after buying an additional 647 shares during the period. Meritage Portfolio Management increased its holdings in Four Corners Property Trust by 4.3% in the second quarter. Meritage Portfolio Management now owns 17,262 shares of the financial services provider’s stock valued at $465,000 after buying an additional 714 shares in the last quarter. Finally, Yousif Capital Management LLC raised its position in shares of Four Corners Property Trust by 2.0% in the second quarter. Yousif Capital Management LLC now owns 37,370 shares of the financial services provider’s stock worth $1,006,000 after acquiring an additional 716 shares during the period. 98.66% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Four Corners Property Trust

In related news, Director Douglas B. Hansen purchased 1,984 shares of Four Corners Property Trust stock in a transaction dated Friday, October 31st. The shares were acquired 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 approximately $1,849,759.08. The trade was a 2.60% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Niccole Stewart sold 3,950 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $25.30, for a total transaction of $99,935.00. Following the completion of the transaction, the chief accounting officer owned 27,502 shares in the company, valued at approximately $695,800.60. This represents a 12.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.20% of the stock is owned by company insiders.

Four Corners Property Trust Stock Performance

Shares of Four Corners Property Trust stock opened at $23.04 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.12 and a current ratio of 0.12. The business’s 50 day moving average price is $23.91 and its 200 day moving average price is $25.41. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 21.14 and a beta of 0.86. Four Corners Property Trust, Inc. has a one year low of $22.80 and a one year 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 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.04%.The business had revenue of $74.15 million for the quarter, compared to analyst estimates of $71.86 million. During the same quarter in the previous year, the firm earned $0.43 EPS. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, research analysts predict that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.3665 per share. This represents a $1.47 annualized dividend and a yield of 6.4%. 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. Four Corners Property Trust’s payout ratio is 130.28%.

Analyst Ratings Changes

FCPT has been the topic of a number of analyst reports. Wells Fargo & Company dropped their target price on Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 25th. Robert W. Baird set a $29.00 price target on Four Corners Property Trust in a research report on Wednesday, October 29th. UBS Group increased their price objective on Four Corners Property Trust from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Barclays lowered their target price on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Monday, October 20th. Finally, Wall Street Zen upgraded shares of Four Corners Property Trust from a “sell” rating to a “hold” rating in a research report on Sunday, October 19th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $28.40.

Four Corners Property Trust 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.