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

Earnest Partners LLC boosted its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 15.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,429,030 shares of the financial services provider’s stock after purchasing an additional 326,281 shares during the period. Earnest Partners LLC owned about 2.64% of Four Corners Property Trust worth $59,438,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD grew its stake in shares of Four Corners Property Trust by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 61,801 shares of the financial services provider’s stock worth $1,513,000 after acquiring an additional 3,268 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of Four Corners Property Trust by 491.0% in the first quarter. Lazard Asset Management LLC now owns 7,973 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 6,624 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in shares of Four Corners Property Trust by 3.7% in the first quarter. Westwood Holdings Group Inc. now owns 2,619,070 shares of the financial services provider’s stock worth $64,089,000 after acquiring an additional 93,552 shares in the last quarter. Vident Advisory LLC grew its stake in shares of Four Corners Property Trust by 12.4% in the first quarter. Vident Advisory LLC now owns 199,362 shares of the financial services provider’s stock worth $4,878,000 after acquiring an additional 21,953 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of Four Corners Property Trust by 6.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 186,434 shares of the financial services provider’s stock worth $4,560,000 after acquiring an additional 12,016 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

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

Four Corners Property Trust Stock Down 0.7 %

Shares of FCPT stock traded down $0.20 on Monday, reaching $27.30. 331,854 shares of the stock were exchanged, compared to its average volume of 465,849. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average price is $25.05 and its 200 day moving average price is $24.31. The company has a market capitalization 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 twelve month low of $20.51 and a twelve month high of $27.64.

Four Corners Property Trust Dividend Announcement

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