Ieq Capital LLC Raises Stock Holdings in Four Corners Property Trust, Inc. $FCPT

Ieq Capital LLC grew its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 31.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,154 shares of the financial services provider’s stock after buying an additional 2,890 shares during the quarter. Ieq Capital LLC’s holdings in Four Corners Property Trust were worth $349,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FCPT. Costello Asset Management INC purchased a new stake in Four Corners Property Trust in the first quarter worth about $40,000. GF Fund Management CO. LTD. purchased a new stake in Four Corners Property Trust in the fourth quarter worth about $46,000. Brooklyn Investment Group increased its position in Four Corners Property Trust by 1,389.5% in the first quarter. Brooklyn Investment Group now owns 1,698 shares of the financial services provider’s stock worth $49,000 after buying an additional 1,584 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Four Corners Property Trust in the first quarter worth about $77,000. Finally, Smartleaf Asset Management LLC increased its position in Four Corners Property Trust by 106.3% in the first quarter. Smartleaf Asset Management LLC now owns 2,845 shares of the financial services provider’s stock worth $81,000 after buying an additional 1,466 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Insider Buying and Selling

In related news, Director John S. Moody sold 7,667 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $27.42, for a total transaction of $210,229.14. Following the completion of the transaction, the director directly owned 53,821 shares of the company’s stock, valued at approximately $1,475,771.82. This represents a 12.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

FCPT has been the subject of a number of analyst reports. Raymond James Financial reduced their price target 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. Wells Fargo & Company cut their target price on Four Corners Property Trust from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Wednesday, August 27th. Barclays cut their target price on Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 20th. Finally, UBS Group increased their target price on Four Corners Property Trust from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, August 15th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Four Corners Property Trust Stock Performance

NYSE:FCPT opened at $26.10 on Friday. The stock has a 50-day moving average price of $26.11 and a 200 day moving average price of $27.20. Four Corners Property Trust, Inc. has a 12-month low of $25.00 and a 12-month high of $30.93. The stock has a market capitalization of $2.73 billion, a P/E ratio of 24.17 and a beta of 0.86. 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 (NYSE:FCPT) last announced its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. Four Corners Property Trust had a return on equity of 7.40% and a net margin of 37.87%.The company had revenue of $72.84 million during the quarter, compared to analyst estimates of $70.27 million. During the same period in the prior year, the company earned $0.43 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. Equities research analysts forecast that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.355 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.42 dividend on an annualized basis and a yield of 5.4%. Four Corners Property Trust’s dividend payout ratio is presently 131.48%.

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.