Four Corners Property Trust (NYSE:FCPT) Sees Large Volume Increase – What’s Next?

Shares of Four Corners Property Trust, Inc. (NYSE:FCPT) saw unusually-high trading volume on Wednesday . Approximately 994,994 shares changed hands during trading, an increase of 54% from the previous session’s volume of 646,037 shares.The stock last traded at $27.04 and had previously closed at $27.40.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FCPT shares. Wells Fargo & Company lowered their price objective on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, June 2nd. UBS Group decreased their target price on shares of 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. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.40.

Four Corners Property Trust Stock Down 0.4%

The firm has a 50-day simple moving average of $27.57 and a 200 day simple moving average of $27.78. The stock has a market capitalization of $2.74 billion, a P/E ratio of 25.50 and a beta of 0.86. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.14 and a quick ratio of 0.14.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data 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 company had revenue of $71.48 million during the quarter, compared to the consensus estimate of $67.17 million. Four Corners Property Trust had a return on equity of 7.46% and a net margin of 37.57%. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The firm’s revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts forecast that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend is Monday, June 30th. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 132.71%.

Insider Activity

In related news, Director John S. Moody sold 7,667 shares of Four Corners Property Trust stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $27.42, for a total value of $210,229.14. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Niccole Stewart sold 9,100 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The shares were 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 owns 31,204 shares in the company, valued at $851,245.12. The trade was a 22.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Four Corners Property Trust

Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Four Corners Property Trust by 3.7% in the first quarter. Vanguard Group Inc. now owns 11,275,334 shares of the financial services provider’s stock valued at $323,602,000 after buying an additional 400,396 shares during the period. Invesco Ltd. raised its position in shares of Four Corners Property Trust by 2.9% in the 4th quarter. Invesco Ltd. now owns 3,072,755 shares of the financial services provider’s stock worth $83,395,000 after acquiring an additional 85,476 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Four Corners Property Trust by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 2,455,295 shares of the financial services provider’s stock valued at $66,651,000 after purchasing an additional 98,120 shares during the period. Capital International Investors boosted its position in shares of Four Corners Property Trust by 25.4% during the 4th quarter. Capital International Investors now owns 2,267,422 shares of the financial services provider’s stock valued at $61,538,000 after purchasing an additional 459,542 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Four Corners Property Trust by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,843,627 shares of the financial services provider’s stock valued at $52,912,000 after purchasing an additional 21,205 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Company 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.