Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Sold by Rye Brook Capital LLC

Rye Brook Capital LLC cut its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 50.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 110,100 shares of the financial services provider’s stock after selling 113,800 shares during the period. Four Corners Property Trust comprises approximately 4.0% of Rye Brook Capital LLC’s investment portfolio, making the stock its 10th biggest position. Rye Brook Capital LLC owned approximately 0.11% of Four Corners Property Trust worth $3,160,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of Four Corners Property Trust by 23.6% during the first quarter. GAMMA Investing LLC now owns 6,457 shares of the financial services provider’s stock valued at $185,000 after purchasing an additional 1,231 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Four Corners Property Trust by 5.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,755 shares of the financial services provider’s stock valued at $238,000 after purchasing an additional 450 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Four Corners Property Trust during the fourth quarter valued at about $46,000. Public Employees Retirement System of Ohio boosted its stake in shares of Four Corners Property Trust by 1.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 260,842 shares of the financial services provider’s stock valued at $7,079,000 after purchasing an additional 4,697 shares in the last quarter. Finally, Palisades Investment Partners LLC boosted its stake in shares of Four Corners Property Trust by 8.3% during the fourth quarter. Palisades Investment Partners LLC now owns 31,303 shares of the financial services provider’s stock valued at $850,000 after purchasing an additional 2,407 shares in the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. UBS Group cut their price target on Four Corners Property Trust from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company reduced their target price on Four Corners Property Trust from $31.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, June 2nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Four Corners Property Trust currently has an average rating of “Moderate Buy” and an average price target of $29.40.

Insider Transactions at Four Corners Property Trust

In related news, CAO Niccole Stewart sold 9,100 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $27.28, for a total value of $248,248.00. Following the completion of the sale, the chief accounting officer now directly owns 31,204 shares of the company’s stock, valued at approximately $851,245.12. This represents a 22.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John S. Moody sold 7,667 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $27.42, for a total value of $210,229.14. Following the completion of the sale, the director now directly owns 53,821 shares of the company’s stock, valued at $1,475,771.82. The trade was a 12.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Four Corners Property Trust Price Performance

Four Corners Property Trust stock opened at $27.37 on Friday. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 25.58 and a beta of 0.86. Four Corners Property Trust, Inc. has a 52-week low of $24.14 and a 52-week high of $30.93. The stock’s 50 day moving average price is $27.52 and its two-hundred day moving average price is $27.84. 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, topping analysts’ consensus estimates of $0.42 by $0.02. Four Corners Property Trust had a return on equity of 7.54% and a net margin of 37.48%. The firm had revenue of $71.48 million for the quarter, compared to analysts’ expectations of $67.17 million. During the same period in the prior year, the business earned $0.43 EPS. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities analysts predict 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 announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date of this dividend is Monday, June 30th. Four Corners Property Trust’s payout ratio is 132.71%.

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.