Y Intercept Hong Kong Ltd Raises Holdings in Four Corners Property Trust, Inc. $FCPT

Y Intercept Hong Kong Ltd grew its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 1,729.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 185,986 shares of the financial services provider’s stock after purchasing an additional 175,820 shares during the period. Y Intercept Hong Kong Ltd owned approximately 0.19% of Four Corners Property Trust worth $5,005,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Inspire Investing LLC grew its position in shares of Four Corners Property Trust by 2.2% during the second quarter. Inspire Investing LLC now owns 17,495 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 383 shares in the last quarter. CWM LLC grew its position in shares of Four Corners Property Trust by 15.0% during the first quarter. CWM LLC now owns 2,975 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 389 shares in the last quarter. Palisades Investment Partners LLC grew its position in shares of Four Corners Property Trust by 1.5% during the first quarter. Palisades Investment Partners LLC now owns 31,762 shares of the financial services provider’s stock valued at $912,000 after purchasing an additional 459 shares in the last quarter. Meritage Portfolio Management grew its position in shares of Four Corners Property Trust by 4.3% during the second quarter. Meritage Portfolio Management now owns 17,262 shares of the financial services provider’s stock valued at $465,000 after purchasing an additional 714 shares in the last quarter. Finally, Yousif Capital Management LLC grew its position in shares of Four Corners Property Trust by 2.0% during the second quarter. Yousif Capital Management LLC now owns 37,370 shares of the financial services provider’s stock valued at $1,006,000 after purchasing an additional 716 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on FCPT shares. Wall Street Zen upgraded Four Corners Property Trust from a “sell” rating to a “hold” rating in a research report on Sunday, October 19th. Wells Fargo & Company reaffirmed 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 report on Thursday, September 11th. UBS Group increased their price target on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, August 15th. Barclays lowered their price target on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Four Corners Property Trust in a report on Tuesday, October 14th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $28.75.

Insider Buying and Selling at Four Corners Property Trust

In other Four Corners Property Trust news, CAO Niccole Stewart sold 3,950 shares of Four Corners Property Trust stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $25.30, for a total value of $99,935.00. Following the transaction, the chief accounting officer directly owned 27,502 shares of the company’s stock, valued at approximately $695,800.60. The trade was a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William H. Lenehan purchased 7,850 shares of the business’s stock in a transaction on Friday, September 12th. The stock was purchased at an average cost of $25.40 per share, for a total transaction of $199,390.00. Following the completion of the acquisition, the chief executive officer directly owned 698,426 shares of the company’s stock, valued at approximately $17,740,020.40. The trade was a 1.14% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.20% of the stock is currently owned by insiders.

Four Corners Property Trust Stock Performance

Four Corners Property Trust stock opened at $23.87 on Wednesday. The company has a 50 day moving average price of $24.97 and a 200-day moving average price of $26.30. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.12 and a current ratio of 0.12. Four Corners Property Trust, Inc. has a fifty-two week low of $23.64 and a fifty-two week high of $30.12. The company has a market capitalization of $2.49 billion, a PE ratio of 22.10 and a beta of 0.87.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. Four Corners Property Trust had a net margin of 37.87% and a return on equity of 7.40%. The firm had revenue of $74.15 million during the quarter, compared to the consensus estimate of $71.86 million. During the same quarter in the previous year, the firm posted $0.43 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis. As a group, equities analysts forecast that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

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

Four Corners Property Trust 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.