Raymond James & Associates Has $5.68 Million Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

Raymond James & Associates cut its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 2.3% in the second quarter, Holdings Channel.com reports. The firm owned 230,310 shares of the financial services provider’s stock after selling 5,426 shares during the quarter. Raymond James & Associates’ holdings in Four Corners Property Trust were worth $5,682,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FCPT. Norges Bank acquired a new position in shares of Four Corners Property Trust during the 4th quarter worth about $14,546,000. Earnest Partners LLC raised its holdings in shares of Four Corners Property Trust by 15.5% in the 1st quarter. Earnest Partners LLC now owns 2,429,030 shares of the financial services provider’s stock valued at $59,438,000 after purchasing an additional 326,281 shares during the period. William Blair Investment Management LLC raised its holdings in shares of Four Corners Property Trust by 26.7% in the 1st quarter. William Blair Investment Management LLC now owns 1,410,376 shares of the financial services provider’s stock valued at $34,512,000 after purchasing an additional 297,300 shares during the period. Vanguard Group Inc. raised its holdings in shares of Four Corners Property Trust by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 10,518,844 shares of the financial services provider’s stock valued at $266,127,000 after purchasing an additional 294,240 shares during the period. Finally, Capital International Investors raised its holdings in shares of Four Corners Property Trust by 14.2% in the 4th quarter. Capital International Investors now owns 1,807,880 shares of the financial services provider’s stock valued at $45,739,000 after purchasing an additional 225,327 shares during the period. 98.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO William H. Lenehan purchased 6,230 shares of Four Corners Property Trust stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average price of $24.05 per share, for a total transaction of $149,831.50. Following the transaction, the chief executive officer now owns 620,394 shares of the company’s stock, valued at approximately $14,920,475.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Four Corners Property Trust news, Director John S. Moody sold 7,230 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $24.56, for a total value of $177,568.80. Following the sale, the director now owns 61,108 shares in the company, valued at $1,500,812.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William H. Lenehan bought 6,230 shares of the business’s stock in a transaction on Monday, June 10th. The stock was bought at an average price of $24.05 per share, for a total transaction of $149,831.50. Following the transaction, the chief executive officer now directly owns 620,394 shares of the company’s stock, valued at $14,920,475.70. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

Four Corners Property Trust Stock Up 0.5 %

Four Corners Property Trust stock opened at $27.97 on Thursday. The company’s 50-day moving average price is $26.31 and its two-hundred day moving average price is $24.82. Four Corners Property Trust, Inc. has a twelve month low of $20.51 and a twelve month high of $28.16. The stock has a market cap of $2.57 billion, a P/E ratio of 26.14 and a beta of 1.08. The company has a quick ratio of 0.14, a current ratio of 0.13 and a debt-to-equity ratio of 0.43.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). Four Corners Property Trust had a return on equity of 7.72% and a net margin of 37.01%. The business had revenue of $66.48 million for the quarter, compared to analyst estimates of $63.70 million. During the same quarter in the previous year, the company earned $0.42 EPS. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, analysts expect that Four Corners Property Trust, Inc. will post 1.65 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.345 per share. The ex-dividend date was Friday, June 28th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 4.93%. Four Corners Property Trust’s payout ratio is presently 128.97%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FCPT. Wells Fargo & Company raised shares of Four Corners Property Trust to a “strong-buy” rating in a report on Monday, August 12th. Raymond James upped their target price on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Evercore ISI upped their target price on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a report on Wednesday. Finally, JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Four Corners Property Trust Profile

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.