Four Corners Property Trust, Inc. $FCPT Shares Acquired by Legal & General Group Plc

Legal & General Group Plc boosted its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 3.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 660,396 shares of the financial services provider’s stock after purchasing an additional 22,248 shares during the period. Legal & General Group Plc owned approximately 0.63% of Four Corners Property Trust worth $17,771,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Trust Co. of Toledo NA OH acquired a new stake in shares of Four Corners Property Trust in the second quarter valued at $27,000. Costello Asset Management INC bought a new stake in Four Corners Property Trust in the first quarter worth about $40,000. Brooklyn Investment Group lifted 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 valued at $49,000 after acquiring an additional 1,584 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Four Corners Property Trust in the 1st quarter valued at about $77,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Four Corners Property Trust by 106.3% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,845 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 1,466 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Performance

Shares of FCPT stock opened at $24.04 on Friday. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 22.06 and a beta of 0.88. Four Corners Property Trust, Inc. has a 1-year low of $23.05 and a 1-year high of $30.12. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.39. The stock’s fifty day simple moving average is $24.15 and its 200-day simple moving average is $25.68.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.04%.The firm had revenue of $74.15 million during the quarter, compared to the consensus estimate of $71.86 million. During the same period in the prior year, the business earned $0.43 EPS. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, sell-side analysts predict that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a dividend of $0.3665 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.36. This represents a $1.47 dividend on an annualized basis and a yield of 6.1%. Four Corners Property Trust’s payout ratio is presently 130.28%.

Insider Activity at Four Corners Property Trust

In related news, Director Douglas B. Hansen acquired 1,984 shares of the company’s stock in a transaction on Friday, October 31st. The shares were purchased at an average price of $23.64 per share, for a total transaction of $46,901.76. Following the purchase, the director owned 78,247 shares in the company, valued at $1,849,759.08. This represents a 2.60% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William H. Lenehan bought 7,850 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were bought at an average cost of $25.40 per share, with a total value of $199,390.00. Following the purchase, the chief executive officer directly owned 698,426 shares in the company, valued at approximately $17,740,020.40. This trade represents a 1.14% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FCPT has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on shares of Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday. UBS Group lifted their price target on shares of 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. Barclays cut their price objective on Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Monday, October 20th. Robert W. Baird set a $29.00 target price on Four Corners Property Trust in a report on Wednesday, October 29th. Finally, Wall Street Zen raised Four Corners Property Trust from a “sell” rating to a “hold” rating in a research report on Sunday, October 19th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.40.

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.