American International Group Inc. Sells 511 Shares of Four Corners Property Trust Inc (NYSE:FCPT)

American International Group Inc. lowered its position in Four Corners Property Trust Inc (NYSE:FCPT) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,588 shares of the financial services provider’s stock after selling 511 shares during the quarter. American International Group Inc. owned approximately 0.08% of Four Corners Property Trust worth $1,378,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in Four Corners Property Trust by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 884,675 shares of the financial services provider’s stock valued at $21,789,000 after acquiring an additional 24,521 shares during the period. First Trust Advisors LP grew its stake in Four Corners Property Trust by 29.0% in the 3rd quarter. First Trust Advisors LP now owns 12,431 shares of the financial services provider’s stock valued at $319,000 after acquiring an additional 2,797 shares during the period. JPMorgan Chase & Co. grew its stake in Four Corners Property Trust by 23.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 217,598 shares of the financial services provider’s stock valued at $5,591,000 after acquiring an additional 41,449 shares during the period. Rhumbline Advisers grew its stake in Four Corners Property Trust by 3.3% in the 3rd quarter. Rhumbline Advisers now owns 164,888 shares of the financial services provider’s stock valued at $4,236,000 after acquiring an additional 5,286 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Four Corners Property Trust by 22.9% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,957 shares of the financial services provider’s stock valued at $410,000 after acquiring an additional 2,971 shares during the period. Hedge funds and other institutional investors own 92.85% of the company’s stock.

FCPT traded up $0.49 on Friday, hitting $28.18. 275,676 shares of the company’s stock were exchanged, compared to its average volume of 351,353. Four Corners Property Trust Inc has a fifty-two week low of $21.92 and a fifty-two week high of $29.85. The company has a quick ratio of 6.24, a current ratio of 6.24 and a debt-to-equity ratio of 0.88. The stock has a market cap of $1.93 billion, a PE ratio of 19.99 and a beta of 0.34.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, February 13th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). Four Corners Property Trust had a return on equity of 13.25% and a net margin of 57.37%. The business had revenue of $38.04 million for the quarter, compared to analyst estimates of $38.76 million. During the same period last year, the firm earned $0.33 EPS. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, research analysts anticipate that Four Corners Property Trust Inc will post 1.48 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.2875 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.15 annualized dividend and a yield of 4.08%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 81.56%.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Four Corners Property Trust from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 24th. Boenning Scattergood set a $30.00 target price on shares of Four Corners Property Trust and gave the stock a “buy” rating in a research note on Friday, February 15th. Finally, ValuEngine raised shares of Four Corners Property Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, January 2nd. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Four Corners Property Trust currently has an average rating of “Buy” and an average price target of $29.00.

In other news, CFO Gerald R. Morgan sold 3,000 shares of the business’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $27.41, for a total transaction of $82,230.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel James L. Brat sold 6,000 shares of the business’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $27.41, for a total transaction of $164,460.00. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

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Four Corners Property Trust Company Profile

FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant 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 related food services industry.

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Institutional Ownership by Quarter for Four Corners Property Trust (NYSE:FCPT)

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