Four Corners Property Trust, Inc. $FCPT Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP reduced its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 61.6% during the third quarter, Holdings Channel.com reports. The fund owned 48,505 shares of the financial services provider’s stock after selling 77,813 shares during the quarter. Quantbot Technologies LP’s holdings in Four Corners Property Trust were worth $1,184,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hudson Bay Capital Management LP boosted its position in shares of Four Corners Property Trust by 42.9% during the 2nd quarter. Hudson Bay Capital Management LP now owns 1,443,164 shares of the financial services provider’s stock valued at $38,836,000 after purchasing an additional 433,108 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in Four Corners Property Trust by 23.9% during the second quarter. Balyasny Asset Management L.P. now owns 2,159,994 shares of the financial services provider’s stock worth $58,125,000 after buying an additional 417,134 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in Four Corners Property Trust in the third quarter worth approximately $7,320,000. Vanguard Group Inc. increased its holdings in shares of Four Corners Property Trust by 2.1% in the third quarter. Vanguard Group Inc. now owns 11,712,512 shares of the financial services provider’s stock valued at $285,785,000 after buying an additional 237,155 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Four Corners Property Trust by 45,265.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 220,931 shares of the financial services provider’s stock valued at $5,945,000 after acquiring an additional 220,444 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Four Corners Property Trust

In other Four Corners Property Trust news, CEO William H. Lenehan bought 7,865 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were bought at an average price of $25.49 per share, for a total transaction of $200,478.85. Following the acquisition, the chief executive officer directly owned 765,845 shares of the company’s stock, valued at approximately $19,521,389.05. This trade represents a 1.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FCPT. Wells Fargo & Company decreased 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 report on Tuesday, November 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Friday, January 9th. Evercore dropped their price target on Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating on the stock in a research note on Monday, December 15th. Finally, Citigroup restated a “market perform” rating on shares of Four Corners Property Trust in a report on Monday, January 5th. Two analysts have rated the stock with a Buy rating and five 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 price target of $28.00.

Four Corners Property Trust Trading Up 0.6%

NYSE FCPT opened at $25.66 on Friday. The firm’s 50 day moving average price is $24.62 and its two-hundred day moving average price is $24.45. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.13 and a current ratio of 0.13. Four Corners Property Trust, Inc. has a twelve month low of $22.78 and a twelve month high of $29.81. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 23.33 and a beta of 0.82.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Wednesday, February 11th. 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 38.20%.The business had revenue of $75.67 million during the quarter, compared to analysts’ expectations of $76.04 million. During the same quarter last year, the firm posted $0.44 earnings per share. Four Corners Property Trust’s revenue was up 10.7% compared to the same quarter last year. Equities analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.3665 per share. This represents a $1.47 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Four Corners Property Trust’s payout ratio is 133.64%.

About Four Corners Property Trust

Four Corners Property Trust is a publicly traded real estate investment trust focused on acquiring and managing single-tenant commercial properties subject to long-term, triple-net leases. The company targets industrial, manufacturing, distribution, office and retail facilities leased to creditworthy tenants. By concentrating on net-lease structures, Four Corners seeks to generate stable, predictable income streams and mitigate operating cost variability.

The firm’s core activities include sourcing off-market and broker-sourced acquisition opportunities, conducting rigorous credit and property due diligence, and structuring lease agreements that shift property taxes, insurance and maintenance expenses to tenants.