OppenheimerFunds Inc. cut its holdings in Four Corners Property Trust Inc (NYSE:FCPT) by 7.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,290,442 shares of the financial services provider’s stock after selling 108,188 shares during the quarter. OppenheimerFunds Inc.’s holdings in Four Corners Property Trust were worth $38,197,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in Four Corners Property Trust in the fourth quarter valued at $22,547,000. Weiss Multi Strategy Advisers LLC purchased a new stake in shares of Four Corners Property Trust during the fourth quarter worth about $20,596,000. Oregon Public Employees Retirement Fund purchased a new stake in shares of Four Corners Property Trust during the fourth quarter worth about $26,000. FMR LLC increased its position in shares of Four Corners Property Trust by 9.1% during the fourth quarter. FMR LLC now owns 5,084,348 shares of the financial services provider’s stock worth $133,209,000 after acquiring an additional 423,932 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Four Corners Property Trust by 2.5% during the fourth quarter. BlackRock Inc. now owns 13,091,181 shares of the financial services provider’s stock worth $342,988,000 after acquiring an additional 320,071 shares during the last quarter. Institutional investors and hedge funds own 89.89% of the company’s stock.

Four Corners Property Trust stock traded up $0.14 during midday trading on Wednesday, hitting $27.96. The stock had a trading volume of 5,622 shares, compared to its average volume of 370,026. The company has a quick ratio of 5.78, a current ratio of 5.78 and a debt-to-equity ratio of 0.89. The firm has a market cap of $1.91 billion, a P/E ratio of 19.84 and a beta of 0.27. Four Corners Property Trust Inc has a 12 month low of $22.64 and a 12 month high of $29.85.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.10). The firm had revenue of $39.60 million during the quarter, compared to the consensus estimate of $39.84 million. Four Corners Property Trust had a net margin of 56.35% and a return on equity of 12.63%. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 earnings per share. As a group, equities research analysts anticipate that Four Corners Property Trust Inc will post 1.44 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.287 dividend. This represents a $1.15 annualized dividend and a yield of 4.11%. The ex-dividend date is Thursday, June 27th. Four Corners Property Trust’s dividend payout ratio is currently 81.56%.

A number of analysts have recently issued reports on FCPT shares. Zacks Investment Research lowered Four Corners Property Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Berenberg Bank started coverage on Four Corners Property Trust in a research report on Tuesday, April 23rd. They set a “hold” rating and a $36.00 target price on the stock. Boenning Scattergood reaffirmed a “buy” rating and set a $30.00 target price on shares of Four Corners Property Trust in a research report on Wednesday, April 24th. Finally, Barclays started coverage on Four Corners Property Trust in a research report on Wednesday, May 15th. They set an “equal weight” rating and a $29.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $30.40.

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About Four Corners Property Trust

FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio primarily by acquiring additional real estate to lease, on a net basis, for use in the restaurant and food industry.

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

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