Chartwell Investment Partners LLC Has $7.05 Million Stake in Four Corners Property Trust, Inc. (NYSE:FCPT)

Chartwell Investment Partners LLC lowered its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 9.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 240,516 shares of the financial services provider's stock after selling 23,668 shares during the period. Chartwell Investment Partners LLC owned 0.26% of Four Corners Property Trust worth $7,050,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of FCPT. Vanguard Group Inc. boosted its holdings in shares of Four Corners Property Trust by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 10,635,297 shares of the financial services provider's stock valued at $260,246,000 after buying an additional 116,453 shares in the last quarter. Earnest Partners LLC lifted its position in shares of Four Corners Property Trust by 31.3% during the second quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider's stock worth $78,667,000 after purchasing an additional 759,749 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in Four Corners Property Trust by 3.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,619,070 shares of the financial services provider's stock valued at $64,089,000 after purchasing an additional 93,552 shares during the period. Principal Financial Group Inc. lifted its stake in Four Corners Property Trust by 6.1% during the third quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider's stock valued at $51,996,000 after buying an additional 102,662 shares in the last quarter. Finally, William Blair Investment Management LLC raised its holdings in Four Corners Property Trust by 26.7% during the first quarter. William Blair Investment Management LLC now owns 1,410,376 shares of the financial services provider's stock valued at $34,512,000 after buying an additional 297,300 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company's stock.

Four Corners Property Trust Price Performance

FCPT traded down $0.04 during trading on Tuesday, reaching $27.93. The company's stock had a trading volume of 565,438 shares, compared to its average volume of 507,088. Four Corners Property Trust, Inc. has a 1 year low of $21.60 and a 1 year high of $30.93. The firm has a fifty day simple moving average of $29.00 and a two-hundred day simple moving average of $26.75. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 26.14 and a beta of 1.11. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.14). The business had revenue of $66.79 million during the quarter, compared to analysts' expectations of $63.50 million. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. Four Corners Property Trust's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 EPS. As a group, analysts anticipate that Four Corners Property Trust, Inc. will post 1.66 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.345 dividend. This represents a $1.38 annualized dividend and a yield of 4.94%. The ex-dividend date was Monday, September 30th. Four Corners Property Trust's dividend payout ratio is currently 128.97%.

Analyst Ratings Changes

FCPT has been the topic of several research reports. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. JMP Securities reissued a "market perform" rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Raymond James raised their price objective on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the stock an "outperform" rating in a report on Wednesday, August 21st. Finally, Evercore ISI upped their target price on Four Corners Property Trust from $26.00 to $28.00 and gave the stock an "in-line" rating in a research note on Wednesday, August 28th.

About Four Corners Property Trust

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.