Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 4.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,401,362 shares of the financial services provider’s stock after selling 190,474 shares during the quarter. Victory Capital Management Inc.’s holdings in Four Corners Property Trust were worth $129,004,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of FCPT. Boston Trust Walden Corp boosted its holdings in shares of Four Corners Property Trust by 18.7% in the 2nd quarter. Boston Trust Walden Corp now owns 1,216,760 shares of the financial services provider’s stock valued at $30,017,000 after buying an additional 191,259 shares during the period. Creative Planning boosted its stake in Four Corners Property Trust by 13.3% in the third quarter. Creative Planning now owns 28,159 shares of the financial services provider’s stock valued at $825,000 after acquiring an additional 3,315 shares during the period. Vanguard Group Inc. boosted its stake in Four Corners Property Trust by 1.1% in the first quarter. Vanguard Group Inc. now owns 10,635,297 shares of the financial services provider’s stock valued at $260,246,000 after acquiring an additional 116,453 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Four Corners Property Trust by 6.1% during the second quarter. Renaissance Technologies LLC now owns 93,400 shares of the financial services provider’s stock valued at $2,304,000 after purchasing an additional 5,400 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Four Corners Property Trust by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,324,966 shares of the financial services provider’s stock worth $32,687,000 after purchasing an additional 51,140 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Price Performance

Shares of FCPT opened at $27.92 on Wednesday. Four Corners Property Trust, Inc. has a one year low of $21.60 and a one year high of $30.93. The stock’s fifty day moving average is $28.99 and its 200-day moving average is $26.78. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 26.09 and a beta of 1.11.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The company had revenue of $66.79 million during the quarter, compared to the consensus estimate of $63.50 million. During the same quarter in the prior year, the company earned $0.42 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. Equities analysts anticipate that Four Corners Property Trust, Inc. will post 1.66 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.345 per share. The ex-dividend date was Monday, September 30th. This represents a $1.38 annualized dividend and a yield of 4.94%. Four Corners Property Trust’s payout ratio is 128.97%.

Analyst Ratings Changes

FCPT has been the subject of a number of recent research reports. Wells Fargo & Company restated an “overweight” rating and set a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. Evercore ISI upped their price target on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Finally, Raymond James boosted their target price on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st.

About Four Corners Property Trust

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail 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 retail industries.