666,307 Shares in Four Corners Property Trust, Inc. (NYSE:FCPT) Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. purchased a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT) during the 4th quarter, Holdings Channel.com reports. The fund purchased 666,307 shares of the financial services provider’s stock, valued at approximately $18,084,000.

A number of other hedge funds also recently made changes to their positions in the business. Aptus Capital Advisors LLC lifted its position in shares of Four Corners Property Trust by 22.6% during the 4th quarter. Aptus Capital Advisors LLC now owns 122,394 shares of the financial services provider’s stock worth $3,322,000 after buying an additional 22,553 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in shares of Four Corners Property Trust during the fourth quarter valued at $204,000. Northern Trust Corp boosted its stake in shares of Four Corners Property Trust by 40.7% in the 4th quarter. Northern Trust Corp now owns 1,330,086 shares of the financial services provider’s stock valued at $36,099,000 after purchasing an additional 385,013 shares in the last quarter. Beacon Pointe Advisors LLC bought a new stake in shares of Four Corners Property Trust in the 4th quarter worth about $324,000. Finally, Quarry LP acquired a new stake in shares of Four Corners Property Trust during the 4th quarter worth about $49,000. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Stock Down 0.5 %

NYSE:FCPT opened at $27.75 on Thursday. The stock’s fifty day moving average price is $28.00 and its two-hundred day moving average price is $28.03. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 25.94 and a beta of 0.86. Four Corners Property Trust, Inc. has a 52-week low of $23.70 and a 52-week high of $30.93. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.11 and a current ratio of 0.11.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The business had revenue of $71.48 million for the quarter, compared to analysts’ expectations of $67.17 million. Four Corners Property Trust had a return on equity of 7.54% and a net margin of 37.48%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.43 earnings per share. On average, analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 5.12%. The ex-dividend date was Monday, March 31st. Four Corners Property Trust’s dividend payout ratio is 132.71%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. Barclays dropped their price target on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, Wells Fargo & Company boosted their price objective on Four Corners Property Trust from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, March 10th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.20.

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.