Four Corners Property Trust, Inc. $FCPT Shares Sold by Campbell & CO Investment Adviser LLC

Campbell & CO Investment Adviser LLC decreased its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 50.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,061 shares of the financial services provider’s stock after selling 24,497 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Four Corners Property Trust were worth $647,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Trust Co. of Toledo NA OH purchased a new position in Four Corners Property Trust in the 2nd quarter worth approximately $27,000. Costello Asset Management INC acquired a new position in shares of Four Corners Property Trust during the first quarter worth $40,000. Brooklyn Investment Group boosted its stake in shares of Four Corners Property Trust by 1,389.5% in the first quarter. Brooklyn Investment Group now owns 1,698 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 1,584 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Four Corners Property Trust during the 1st quarter valued at $77,000. Finally, Smartleaf Asset Management LLC increased its stake in Four Corners Property Trust by 106.3% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,845 shares of the financial services provider’s stock worth $81,000 after buying an additional 1,466 shares during the period. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Four Corners Property Trust

In related news, Director Douglas B. Hansen bought 1,984 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was bought at an average cost of $23.64 per share, for a total transaction of $46,901.76. Following the completion of the purchase, the director directly owned 78,247 shares in the company, valued at approximately $1,849,759.08. The trade was a 2.60% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Niccole Stewart sold 3,950 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $25.30, for a total value of $99,935.00. Following the sale, the chief accounting officer owned 27,502 shares in the company, valued at $695,800.60. The trade was a 12.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FCPT. UBS Group upped their price objective 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. Wells Fargo & Company reissued an “equal weight” rating and issued a $27.00 price target (down previously from $29.00) on shares of Four Corners Property Trust in a report on Thursday, September 11th. Robert W. Baird set a $29.00 price objective on Four Corners Property Trust in a report on Wednesday, October 29th. Raymond James Financial reduced their target price on Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. Finally, Barclays dropped their price target on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Monday, October 20th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $28.80.

Four Corners Property Trust Price Performance

Shares of FCPT opened at $24.19 on Friday. Four Corners Property Trust, Inc. has a 52 week low of $23.05 and a 52 week high of $30.12. 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 firm has a market cap of $2.57 billion, a price-to-earnings ratio of 22.19 and a beta of 0.88. The stock has a 50 day moving average of $24.48 and a 200-day moving average of $25.95.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. The firm had revenue of $74.15 million for the quarter, compared to analysts’ expectations of $71.86 million. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.04%.The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period last year, the business posted $0.43 earnings per share. As a group, analysts forecast that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a $0.3665 dividend. 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. This represents a $1.47 annualized dividend and a dividend yield of 6.1%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 130.28%.

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.