Mirae Asset Global Investments Co. Ltd. Has $56,000 Position in Four Corners Property Trust, Inc. $FCPT

Mirae Asset Global Investments Co. Ltd. lessened its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 20.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,071 shares of the financial services provider’s stock after selling 542 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Four Corners Property Trust were worth $56,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Costello Asset Management INC acquired a new position in Four Corners Property Trust in the 1st quarter worth about $40,000. Brooklyn Investment Group increased its holdings in Four Corners Property Trust by 1,389.5% in the 1st quarter. Brooklyn Investment Group now owns 1,698 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 1,584 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Four Corners Property Trust in the 1st quarter valued at about $77,000. Smartleaf Asset Management LLC grew its position in shares of Four Corners Property Trust by 106.3% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,845 shares of the financial services provider’s stock valued at $81,000 after buying an additional 1,466 shares during the last quarter. Finally, CWM LLC grew its position in shares of Four Corners Property Trust by 15.0% in the 1st quarter. CWM LLC now owns 2,975 shares of the financial services provider’s stock valued at $85,000 after buying an additional 389 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Insider Activity at Four Corners Property Trust

In other news, CEO William H. Lenehan purchased 7,850 shares of the business’s stock in a transaction on Friday, September 12th. The shares were acquired at an average price of $25.40 per share, for a total transaction of $199,390.00. Following the completion of the acquisition, the chief executive officer owned 698,426 shares in the company, valued at approximately $17,740,020.40. The trade was a 1.14% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Niccole Stewart sold 3,950 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $25.30, for a total value of $99,935.00. Following the completion of the transaction, the chief accounting officer owned 27,502 shares in the company, valued at approximately $695,800.60. The trade was a 12.56% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Four Corners Property Trust Stock Down 0.3%

Shares of Four Corners Property Trust stock opened at $23.87 on Monday. The stock’s 50-day moving average is $25.24 and its 200 day moving average is $26.56. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 22.10 and a beta of 0.87. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.12 and a quick ratio of 0.12. Four Corners Property Trust, Inc. has a one year low of $23.64 and a one year high of $30.12.

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

Four Corners Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.355 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.42 annualized dividend and a yield of 5.9%. Four Corners Property Trust’s dividend payout ratio is presently 131.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wall Street Zen lowered Four Corners Property Trust from a “hold” rating to a “sell” rating in a research report on Saturday. Wells Fargo & Company reiterated an “equal weight” rating and issued a $27.00 price target (down previously from $29.00) on shares of Four Corners Property Trust in a research report on Thursday, September 11th. Barclays reduced their price target 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of Four Corners Property Trust in a research report on Saturday, September 27th. Finally, Raymond James Financial reduced their price target on Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Four Corners Property Trust has a consensus rating of “Hold” and a consensus price target of $29.00.

About Four Corners Property Trust

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.