Cbre Investment Management Listed Real Assets LLC Sells 1,297,470 Shares of Four Corners Property Trust, Inc. $FCPT

Cbre Investment Management Listed Real Assets LLC decreased its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 96.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,364 shares of the financial services provider’s stock after selling 1,297,470 shares during the quarter. Cbre Investment Management Listed Real Assets LLC’s holdings in Four Corners Property Trust were worth $1,221,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp increased its position in Four Corners Property Trust by 4.7% during the second quarter. Bank of New York Mellon Corp now owns 915,445 shares of the financial services provider’s stock worth $24,635,000 after buying an additional 41,471 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Four Corners Property Trust by 3.1% during the 2nd quarter. Bank of Montreal Can now owns 18,912 shares of the financial services provider’s stock worth $509,000 after acquiring an additional 568 shares in the last quarter. Versor Investments LP bought a new stake in shares of Four Corners Property Trust during the 2nd quarter worth about $678,000. Assetmark Inc. acquired a new position in shares of Four Corners Property Trust during the 2nd quarter valued at about $463,000. Finally, Hantz Financial Services Inc. raised its stake in shares of Four Corners Property Trust by 1,972.6% in the 2nd quarter. Hantz Financial Services Inc. now owns 10,902 shares of the financial services provider’s stock valued at $293,000 after acquiring an additional 10,376 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Raymond James Financial decreased their target price on Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. Barclays dropped their price target on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Four Corners Property Trust in a report on Tuesday, October 14th. UBS Group raised their target price on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Finally, Wall Street Zen raised shares of Four Corners Property Trust from a “sell” rating to a “hold” rating in a research report on Sunday, October 19th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.80.

Four Corners Property Trust Stock Down 1.1%

FCPT opened at $23.71 on Friday. The business has a 50 day moving average of $24.68 and a 200-day moving average of $26.12. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 21.75 and a beta of 0.88. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.39. Four Corners Property Trust, Inc. has a 1-year low of $23.05 and a 1-year high of $30.12.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Tuesday, October 28th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The business had revenue of $74.15 million for the quarter, compared to analyst estimates of $71.86 million. Four Corners Property Trust had a net margin of 38.04% and a return on equity of 7.39%. Four Corners Property Trust’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.43 earnings per share. As a group, sell-side analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.355 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 6.0%. Four Corners Property Trust’s dividend payout ratio is currently 130.28%.

Insider Activity at Four Corners Property Trust

In related news, CAO Niccole Stewart sold 3,950 shares of Four Corners Property Trust stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $25.30, for a total transaction of $99,935.00. Following the sale, the chief accounting officer directly owned 27,502 shares of the company’s stock, valued at $695,800.60. This trade represents a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William H. Lenehan purchased 7,850 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were purchased at an average price of $25.40 per share, for a total transaction of $199,390.00. Following the completion of the purchase, the chief executive officer directly owned 698,426 shares of the company’s stock, valued at approximately $17,740,020.40. This trade represents a 1.14% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.20% of the stock is owned by corporate insiders.

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.