Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Acquired by Earnest Partners LLC

Earnest Partners LLC lifted its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 15.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,429,030 shares of the financial services provider’s stock after acquiring an additional 326,281 shares during the quarter. Earnest Partners LLC’s holdings in Four Corners Property Trust were worth $59,438,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Four Corners Property Trust during the 4th quarter worth $14,546,000. William Blair Investment Management LLC increased its stake in Four Corners Property Trust by 26.7% during the 1st quarter. William Blair Investment Management LLC now owns 1,410,376 shares of the financial services provider’s stock worth $34,512,000 after buying an additional 297,300 shares during the period. Vanguard Group Inc. increased its stake in Four Corners Property Trust by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 10,518,844 shares of the financial services provider’s stock worth $266,127,000 after buying an additional 294,240 shares during the period. Capital International Investors increased its position in shares of Four Corners Property Trust by 14.2% in the 4th quarter. Capital International Investors now owns 1,807,880 shares of the financial services provider’s stock worth $45,739,000 after purchasing an additional 225,327 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Four Corners Property Trust by 50.0% in the 4th quarter. Wells Fargo & Company MN now owns 609,208 shares of the financial services provider’s stock worth $15,413,000 after purchasing an additional 203,047 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Stock Down 0.7 %

Shares of FCPT traded down $0.20 during midday trading on Monday, hitting $27.30. The company had a trading volume of 331,854 shares, compared to its average volume of 465,849. The company’s 50 day moving average price is $25.05 and its 200 day moving average price is $24.31. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 25.51 and a beta of 1.08. Four Corners Property Trust, Inc. has a 52 week low of $20.51 and a 52 week high of $27.64. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.40.

Four Corners Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date was Friday, June 28th. Four Corners Property Trust’s dividend payout ratio is presently 128.97%.

Wall Street Analysts Forecast Growth

Separately, JMP Securities began coverage on shares of Four Corners Property Trust in a research report on Monday, July 8th. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Four Corners Property Trust currently has an average rating of “Moderate Buy” and an average target price of $26.33.

Insider Activity at Four Corners Property Trust

In other Four Corners Property Trust news, CEO William H. Lenehan acquired 6,230 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average price of $24.05 per share, with a total value of $149,831.50. Following the transaction, the chief executive officer now directly owns 620,394 shares in the company, valued at $14,920,475.70. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other Four Corners Property Trust news, CEO William H. Lenehan acquired 6,230 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average price of $24.05 per share, with a total value of $149,831.50. Following the transaction, the chief executive officer now directly owns 620,394 shares in the company, valued at $14,920,475.70. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director John S. Moody sold 7,230 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $24.56, for a total transaction of $177,568.80. Following the sale, the director now directly owns 61,108 shares of the company’s stock, valued at approximately $1,500,812.48. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Four Corners Property Trust Company 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.