Exchange Traded Concepts LLC Lowers Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Exchange Traded Concepts LLC lowered its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 10.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,413 shares of the financial services provider’s stock after selling 10,320 shares during the period. Exchange Traded Concepts LLC owned approximately 0.10% of Four Corners Property Trust worth $2,650,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Larson Financial Group LLC raised its stake in shares of Four Corners Property Trust by 25,000.0% in the 1st quarter. Larson Financial Group LLC now owns 1,004 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 1,000 shares during the period. Covestor Ltd grew its holdings in Four Corners Property Trust by 23.2% during the 1st quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 470 shares in the last quarter. Blue Trust Inc. grew its holdings in Four Corners Property Trust by 1,469.1% during the 2nd quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 3,467 shares in the last quarter. GAMMA Investing LLC grew its holdings in Four Corners Property Trust by 24.0% during the 3rd quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 814 shares in the last quarter. Finally, Cape ANN Savings Bank acquired a new stake in Four Corners Property Trust during the 3rd quarter valued at $200,000. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Trading Up 0.5 %

Shares of NYSE:FCPT opened at $28.80 on Tuesday. The company has a 50 day moving average of $28.54 and a 200-day moving average of $26.05. The firm has a market cap of $2.65 billion, a P/E ratio of 26.92 and a beta of 1.10. Four Corners Property Trust, Inc. has a twelve month low of $20.51 and a twelve month high of $30.93. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.43.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). Four Corners Property Trust had a return on equity of 7.72% and a net margin of 37.01%. The company had revenue of $66.48 million during the quarter, compared to analyst estimates of $63.70 million. During the same period in the prior year, the company posted $0.42 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. As a group, analysts anticipate that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a yield of 4.79%. The ex-dividend date is Monday, September 30th. Four Corners Property Trust’s dividend payout ratio is presently 128.97%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FCPT. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Raymond James boosted their price objective on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Wells Fargo & Company reaffirmed an “overweight” rating and set a $32.00 price objective (up previously from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. Finally, Evercore ISI boosted their price objective on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.67.

Four Corners Property Trust Profile

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.