Bank of Montreal Can reduced its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 13.6% during the second quarter, Holdings Channel reports. The fund owned 83,798 shares of the financial services provider’s stock after selling 13,141 shares during the period. Bank of Montreal Can’s holdings in Four Corners Property Trust were worth $2,104,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in FCPT. Meadow Creek Investment Management LLC increased its stake in shares of Four Corners Property Trust by 33.9% in the first quarter. Meadow Creek Investment Management LLC now owns 4,424 shares of the financial services provider’s stock worth $101,000 after buying an additional 1,120 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Four Corners Property Trust during the first quarter worth approximately $119,000. Glen Harbor Capital Management LLC increased its stake in shares of Four Corners Property Trust by 33.9% in the first quarter. Glen Harbor Capital Management LLC now owns 5,372 shares of the financial services provider’s stock worth $123,000 after buying an additional 1,360 shares during the last quarter. Old Mutual Global Investors UK Ltd. purchased a new stake in shares of Four Corners Property Trust during the first quarter worth approximately $124,000. Finally, Creative Planning increased its stake in shares of Four Corners Property Trust by 3.9% in the first quarter. Creative Planning now owns 6,782 shares of the financial services provider’s stock worth $155,000 after buying an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 87.90% of the company’s stock.

Shares of Four Corners Property Trust, Inc. (FCPT) traded down 0.62% on Friday, reaching $23.90. 409,985 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $25.05 and its 200-day moving average price is $23.41. Four Corners Property Trust, Inc. has a 1-year low of $16.71 and a 1-year high of $25.94. The company has a market capitalization of $1.46 billion, a P/E ratio of 17.64 and a beta of 0.15.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $33.20 million for the quarter, compared to analyst estimates of $33.33 million. Four Corners Property Trust had a net margin of 63.74% and a return on equity of 17.21%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 earnings per share. Analysts anticipate that Four Corners Property Trust, Inc. will post $1.03 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date was Wednesday, June 28th. Four Corners Property Trust’s dividend payout ratio is currently 71.85%.

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A number of brokerages recently commented on FCPT. Canaccord Genuity began coverage on shares of Four Corners Property Trust in a research report on Tuesday, July 18th. They issued a “hold” rating and a $26.00 price objective for the company. Zacks Investment Research raised shares of Four Corners Property Trust from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a report on Wednesday, July 12th. BidaskClub cut shares of Four Corners Property Trust from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Four Corners Property Trust in a report on Thursday, August 3rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $27.00.

About Four Corners Property Trust

Four Corners Property Trust, Inc is a self-administered company and real estate investment trust (REIT), which owns, acquires and leases properties for use in the restaurant and food service related industries. The Company operates through two segments: real estate operations and restaurant operations.

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Institutional Ownership by Quarter for Four Corners Property Trust (NYSE:FCPT)

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