Sumitomo Mitsui Trust Group Inc. Sells 156,098 Shares of Four Corners Property Trust, Inc. $FCPT

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 6.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,385,305 shares of the financial services provider’s stock after selling 156,098 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Four Corners Property Trust were worth $51,904,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FCPT. IFP Advisors Inc raised its position in shares of Four Corners Property Trust by 105.8% in the second quarter. IFP Advisors Inc now owns 1,134 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 583 shares during the period. Bessemer Group Inc. lifted its stake in shares of Four Corners Property Trust by 326.1% in the first quarter. Bessemer Group Inc. now owns 1,649 shares of the financial services provider’s stock worth $39,000 after buying an additional 1,262 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Four Corners Property Trust in the second quarter worth $45,000. Nykredit A S bought a new stake in shares of Four Corners Property Trust during the 2nd quarter worth $49,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Four Corners Property Trust by 44.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,181 shares of the financial services provider’s stock worth $52,000 after buying an additional 667 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 Four Corners Property Trust stock opened at $23.71 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.12 and a quick ratio of 0.12. Four Corners Property Trust, Inc. has a fifty-two week low of $20.85 and a fifty-two week high of $26.86. The firm has a fifty day moving average price of $22.76 and a two-hundred day moving average price of $24.46. The company has a market cap of $2.60 billion, a PE ratio of 21.75 and a beta of 0.77.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.03). Four Corners Property Trust had a return on equity of 7.24% and a net margin of 37.53%. The company had revenue of $83.68 million for the quarter, compared to the consensus estimate of $82.44 million. During the same quarter in the previous year, the firm posted $0.45 EPS. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. Analysts expect that Four Corners Property Trust, Inc. will post 1.76 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be given a dividend of $0.1265 per share. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $1.52 dividend on an annualized basis and a yield of 6.4%. Four Corners Property Trust’s dividend payout ratio (DPR) is 138.53%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Four Corners Property Trust from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 6th. Royal Bank Of Canada set a $26.00 target price on shares of Four Corners Property Trust in a research report on Monday. Barclays decreased their price target on shares of Four Corners Property Trust from $30.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday, October 20th. Wells Fargo & Company lowered their price target on Four Corners Property Trust from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, October 19th. Finally, UBS Group reaffirmed a “buy” rating and issued a $30.00 price target on shares of Four Corners Property Trust in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.45.

Insiders Place Their Bets

In other news, CEO William Lenehan purchased 10,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were purchased at an average cost of $22.61 per share, for a total transaction of $226,100.00. Following the completion of the purchase, the chief executive officer directly owned 789,857 shares of the company’s stock, valued at approximately $17,858,666.77. The trade was a 1.28% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently owned by company insiders.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc is a real estate investment trust (REIT) that owns and manages a portfolio of primarily restaurant and retail properties in the United States. The company generally leases its properties to operators under long-term, net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

FCPT’s portfolio is concentrated in restaurant locations but also includes properties leased to tenants in other retail and service-oriented industries.