William Lenehan Buys 7,850 Shares of Four Corners Property Trust (NYSE:FCPT) Stock

Four Corners Property Trust, Inc. (NYSE:FCPT) CEO William Lenehan bought 7,850 shares of the business’s stock in a transaction on Friday, September 12th. The stock was bought at an average cost of $25.40 per share, with a total value of $199,390.00. Following the transaction, the chief executive officer owned 698,426 shares in the company, valued at $17,740,020.40. This trade represents a 1.14% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Four Corners Property Trust Stock Performance

NYSE:FCPT opened at $25.45 on Friday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.39. Four Corners Property Trust, Inc. has a 12 month low of $25.00 and a 12 month high of $30.93. The company has a market cap of $2.66 billion, a PE ratio of 23.57 and a beta of 0.86. The company has a 50 day simple moving average of $25.97 and a two-hundred day simple moving average of $27.11.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. Four Corners Property Trust had a net margin of 37.87% and a return on equity of 7.40%. The business had revenue of $72.84 million during the quarter, compared to the consensus estimate of $70.27 million. During the same quarter in the previous year, the firm posted $0.43 EPS. The firm’s revenue was up 9.6% on a year-over-year basis. Research analysts forecast that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Institutional Investors Weigh In On Four Corners Property Trust

A number of institutional investors have recently bought and sold shares of FCPT. Vanguard Group Inc. lifted its position in shares of Four Corners Property Trust by 3.7% in the first quarter. Vanguard Group Inc. now owns 11,275,334 shares of the financial services provider’s stock valued at $323,602,000 after acquiring an additional 400,396 shares in the last quarter. State Street Corp raised its stake in Four Corners Property Trust by 2.0% during the 2nd quarter. State Street Corp now owns 5,811,410 shares of the financial services provider’s stock valued at $158,408,000 after purchasing an additional 116,711 shares during the period. Geode Capital Management LLC raised its stake in Four Corners Property Trust by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 2,671,928 shares of the financial services provider’s stock valued at $71,910,000 after purchasing an additional 68,415 shares during the period. Balyasny Asset Management L.P. raised its stake in Four Corners Property Trust by 23.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,159,994 shares of the financial services provider’s stock valued at $58,125,000 after purchasing an additional 417,134 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Four Corners Property Trust by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,843,627 shares of the financial services provider’s stock valued at $52,912,000 after purchasing an additional 21,205 shares during the period. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Analysts Set New Price Targets

FCPT has been the subject of a number of research analyst reports. Raymond James Financial cut their target price on shares of Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. Wells Fargo & Company restated an “equal weight” rating and issued a $27.00 price objective (down from $29.00) on shares of Four Corners Property Trust in a research note on Thursday. Barclays lowered their target price on Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 20th. Finally, UBS Group upped their price target on Four Corners Property Trust from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, August 15th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $29.00.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.