Covestor Ltd Raises Stock Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

Covestor Ltd raised its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 23.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,493 shares of the financial services provider’s stock after acquiring an additional 470 shares during the quarter. Covestor Ltd’s holdings in Four Corners Property Trust were worth $61,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in FCPT. Arizona State Retirement System grew its position in Four Corners Property Trust by 2.2% in the fourth quarter. Arizona State Retirement System now owns 25,318 shares of the financial services provider’s stock worth $641,000 after acquiring an additional 539 shares during the period. Eagle Bay Advisors LLC boosted its position in shares of Four Corners Property Trust by 66.7% during the fourth quarter. Eagle Bay Advisors LLC now owns 1,500 shares of the financial services provider’s stock worth $38,000 after buying an additional 600 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Four Corners Property Trust by 0.7% during the fourth quarter. State of Alaska Department of Revenue now owns 98,248 shares of the financial services provider’s stock worth $2,484,000 after buying an additional 700 shares during the period. Cerity Partners LLC boosted its holdings in Four Corners Property Trust by 3.9% in the fourth quarter. Cerity Partners LLC now owns 22,654 shares of the financial services provider’s stock valued at $573,000 after purchasing an additional 849 shares during the period. Finally, CWM LLC boosted its holdings in Four Corners Property Trust by 183.5% in the fourth quarter. CWM LLC now owns 1,372 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 888 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.

Analyst Ratings Changes

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

Insider Transactions at Four Corners Property Trust

In other news, Director John S. Moody sold 7,230 shares of Four Corners Property Trust stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $24.56, for a total transaction of $177,568.80. Following the sale, the director now owns 61,108 shares in the company, valued at $1,500,812.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director John S. Moody sold 7,230 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $24.56, for a total value of $177,568.80. Following the transaction, the director now owns 61,108 shares in the company, valued at approximately $1,500,812.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William H. Lenehan purchased 6,230 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was bought at an average price of $24.05 per share, for a total transaction 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 disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

Four Corners Property Trust Stock Down 1.3 %

FCPT opened at $26.77 on Thursday. The business’s 50-day simple moving average is $24.88 and its 200-day simple moving average is $24.25. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.14 and a current ratio of 0.14. Four Corners Property Trust, Inc. has a one year low of $20.51 and a one year high of $27.60. The stock has a market capitalization of $2.46 billion, a P/E ratio of 25.02 and a beta of 1.08.

Four Corners Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders 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 5.16%. The ex-dividend date of this dividend was Friday, June 28th. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 128.97%.

Four Corners Property Trust 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.