Victory Capital Management Inc. Cuts Stake in Four Corners Property Trust, Inc. (NYSE:FCPT)

Victory Capital Management Inc. decreased its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,401,362 shares of the financial services provider's stock after selling 190,474 shares during the quarter. Victory Capital Management Inc. owned about 4.75% of Four Corners Property Trust worth $129,004,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Covestor Ltd increased its stake in Four Corners Property Trust by 23.2% in the 1st quarter. Covestor Ltd now owns 2,493 shares of the financial services provider's stock valued at $61,000 after buying an additional 470 shares during the period. Verdence Capital Advisors LLC increased its stake in shares of Four Corners Property Trust by 4.5% during the third quarter. Verdence Capital Advisors LLC now owns 12,298 shares of the financial services provider's stock worth $360,000 after acquiring an additional 527 shares during the period. GAMMA Investing LLC increased its stake in shares of Four Corners Property Trust by 24.0% during the third quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider's stock worth $123,000 after acquiring an additional 814 shares during the period. Arizona State Retirement System raised its holdings in Four Corners Property Trust by 3.5% during the second quarter. Arizona State Retirement System now owns 25,753 shares of the financial services provider's stock worth $635,000 after purchasing an additional 863 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Four Corners Property Trust by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider's stock valued at $106,000 after purchasing an additional 921 shares during the period. Institutional investors and hedge funds own 98.66% of the company's stock.

Analysts Set New Price Targets

FCPT has been the subject of a number of analyst reports. JMP Securities reissued a "market perform" rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Wells Fargo & Company restated an "overweight" rating and issued a $32.00 price target (up previously from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Raymond James lifted their price objective on 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 company an "in-line" rating in a report on Wednesday, August 28th.

Four Corners Property Trust Price Performance

Shares of FCPT stock traded down $0.04 during trading hours on Wednesday, hitting $27.89. The company's stock had a trading volume of 711,963 shares, compared to its average volume of 510,498. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38. Four Corners Property Trust, Inc. has a twelve month low of $22.38 and a twelve month high of $30.93. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 26.07 and a beta of 1.11. The business has a fifty day moving average of $28.97 and a 200-day moving average of $26.79.

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

Four Corners Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 5.09%. This is a positive change from Four Corners Property Trust's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Tuesday, December 31st. Four Corners Property Trust's dividend payout ratio is 128.97%.

Four Corners Property Trust Company 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.