Zurcher Kantonalbank Zurich Cantonalbank Has $1.84 Million Stake in Four Corners Property Trust, Inc. (NYSE:FCPT)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 5.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,403 shares of the financial services provider’s stock after buying an additional 3,597 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.08% of Four Corners Property Trust worth $1,836,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Larson Financial Group LLC grew its position in 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 acquiring an additional 1,000 shares during the last quarter. CWM LLC boosted its holdings in shares of Four Corners Property Trust by 183.5% in the fourth quarter. CWM LLC now owns 1,372 shares of the financial services provider’s stock valued at $35,000 after buying an additional 888 shares during the period. Eagle Bay Advisors LLC raised its stake in shares of Four Corners Property Trust by 66.7% in the 4th quarter. Eagle Bay Advisors LLC now owns 1,500 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 600 shares during the period. Covestor Ltd lifted its stake in Four Corners Property Trust by 23.2% in the 1st quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 470 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Four Corners Property Trust by 1,469.1% in the second quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 3,467 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FCPT shares. Wells Fargo & Company upgraded Four Corners Property Trust to a “strong-buy” rating in a research note on Monday, August 12th. Raymond James raised 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 research note on Wednesday, August 21st. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Finally, Evercore ISI lifted 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, August 28th. Three 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $27.00.

Insider Buying and Selling

In other Four Corners Property Trust news, CEO William H. Lenehan bought 6,230 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were purchased at an average price of $24.05 per share, for a total transaction of $149,831.50. Following the completion of the transaction, the chief executive officer now directly owns 620,394 shares in the company, valued at approximately $14,920,475.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO William H. Lenehan purchased 6,230 shares of Four Corners Property Trust stock in a transaction dated Monday, June 10th. The shares were bought at an average cost of $24.05 per share, for a total transaction of $149,831.50. Following the completion of the acquisition, the chief executive officer now owns 620,394 shares in the company, valued at approximately $14,920,475.70. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John S. Moody sold 7,230 shares of the firm’s stock in a transaction 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 directly owns 61,108 shares of the company’s stock, valued at approximately $1,500,812.48. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

Four Corners Property Trust Stock Up 1.0 %

FCPT opened at $28.35 on Monday. The stock’s fifty day simple moving average is $26.45 and its 200 day simple moving average is $24.91. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.43. The stock has a market cap of $2.63 billion, a PE ratio of 26.50 and a beta of 1.08. Four Corners Property Trust, Inc. has a 1-year low of $20.51 and a 1-year high of $28.35.

Four Corners Property Trust (NYSE:FCPT) last released 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 net margin of 37.01% and a return on equity of 7.72%. The business had revenue of $66.48 million during the quarter, compared to analyst estimates of $63.70 million. The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company posted $0.42 earnings per share. As a group, research analysts expect that Four Corners Property Trust, Inc. will post 1.65 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid 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 yield of 4.87%. Four Corners Property Trust’s payout ratio is 128.97%.

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.