iA Global Asset Management Inc. Sells 9,607 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

iA Global Asset Management Inc. trimmed its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 42.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 13,260 shares of the financial services provider’s stock after selling 9,607 shares during the period. iA Global Asset Management Inc.’s holdings in Four Corners Property Trust were worth $327,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Larson Financial Group LLC increased its position in shares of Four Corners Property Trust by 25,000.0% during the 1st quarter. Larson Financial Group LLC now owns 1,004 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,000 shares in the last quarter. CWM LLC increased its position in shares of Four Corners Property Trust by 183.5% during the 4th quarter. CWM LLC now owns 1,372 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 888 shares in the last quarter. Eagle Bay Advisors LLC increased its position in shares of Four Corners Property Trust by 66.7% during the 4th quarter. Eagle Bay Advisors LLC now owns 1,500 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 600 shares in the last quarter. Covestor Ltd increased its position in shares of Four Corners Property Trust by 23.2% during the 1st quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 470 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Four Corners Property Trust by 1,469.1% during the 2nd quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 3,467 shares in the last quarter. 98.66% of the stock is owned by institutional investors.

Four Corners Property Trust Stock Up 1.0 %

Shares of NYSE:FCPT opened at $28.35 on Friday. Four Corners Property Trust, Inc. has a one year low of $20.51 and a one year high of $28.35. The company has a 50 day moving average of $26.45 and a 200-day moving average of $24.89. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.13 and a quick ratio of 0.14. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 26.50 and a beta of 1.08.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate 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 prior year, the firm earned $0.42 EPS. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts forecast that Four Corners Property Trust, Inc. will post 1.65 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend was Friday, June 28th. Four Corners Property Trust’s dividend payout ratio is 128.97%.

Insider Transactions at Four Corners Property Trust

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

Analyst Ratings Changes

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

About Four Corners Property Trust

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.