Sophron Capital Management L.P. Makes New $4.90 Million Investment in Four Corners Property Trust, Inc. (NYSE:FCPT)

Sophron Capital Management L.P. purchased a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) during the fourth quarter, HoldingsChannel reports. The fund purchased 180,572 shares of the financial services provider’s stock, valued at approximately $4,901,000. Four Corners Property Trust accounts for approximately 1.9% of Sophron Capital Management L.P.’s holdings, making the stock its 22nd biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in FCPT. Vanguard Group Inc. raised its position in shares of Four Corners Property Trust by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 10,874,938 shares of the financial services provider’s stock worth $295,146,000 after purchasing an additional 240,230 shares during the period. Invesco Ltd. boosted its holdings in shares of Four Corners Property Trust by 2.9% in the fourth quarter. Invesco Ltd. now owns 3,072,755 shares of the financial services provider’s stock valued at $83,395,000 after buying an additional 85,476 shares during the period. Geode Capital Management LLC increased its position in shares of Four Corners Property Trust by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 2,455,295 shares of the financial services provider’s stock worth $66,651,000 after acquiring an additional 98,120 shares in the last quarter. Capital International Investors increased its position in shares of Four Corners Property Trust by 25.4% during the fourth quarter. Capital International Investors now owns 2,267,422 shares of the financial services provider’s stock worth $61,538,000 after acquiring an additional 459,542 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Four Corners Property Trust by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,822,422 shares of the financial services provider’s stock worth $49,463,000 after acquiring an additional 48,319 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, March 10th. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. UBS Group dropped their target price on Four Corners Property Trust from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Finally, Barclays reduced their price target on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.60.

Four Corners Property Trust Price Performance

NYSE:FCPT opened at $27.58 on Monday. Four Corners Property Trust, Inc. has a 52-week low of $23.70 and a 52-week high of $30.93. The company has a market cap of $2.77 billion, a P/E ratio of 25.78 and a beta of 0.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.11 and a current ratio of 0.11. The stock’s 50-day simple moving average is $27.78 and its 200 day simple moving average is $27.97.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. The firm had revenue of $71.48 million for the quarter, compared to analyst estimates of $67.17 million. Four Corners Property Trust had a return on equity of 7.54% and a net margin of 37.48%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.43 EPS. As a group, sell-side analysts forecast that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date of this dividend was Monday, March 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 132.71%.

Insider Buying and Selling at Four Corners Property Trust

In other Four Corners Property Trust news, CAO Niccole Stewart sold 9,100 shares of the company’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $27.28, for a total value of $248,248.00. Following the transaction, the chief accounting officer now directly owns 31,204 shares in the company, valued at $851,245.12. The trade was a 22.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.

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.