Creative Planning Sells 1,486 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Creative Planning decreased its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 5.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,844 shares of the financial services provider’s stock after selling 1,486 shares during the quarter. Creative Planning’s holdings in Four Corners Property Trust were worth $613,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Larson Financial Group LLC grew its holdings in shares of Four Corners Property Trust by 25,000.0% in the first quarter. Larson Financial Group LLC now owns 1,004 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 1,000 shares in the last quarter. Covestor Ltd grew its position in Four Corners Property Trust by 23.2% during the first 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. Blue Trust Inc. increased its holdings in Four Corners Property Trust by 1,469.1% during the second quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock worth $91,000 after buying an additional 3,467 shares during the last quarter. Lazard Asset Management LLC raised its position in 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 during the period. Finally, Algert Global LLC purchased a new stake in shares of Four Corners Property Trust during the 2nd quarter worth approximately $229,000. 98.66% of the stock is owned by institutional investors.

Four Corners Property Trust Price Performance

NYSE:FCPT opened at $28.65 on Monday. Four Corners Property Trust, Inc. has a 52-week low of $20.51 and a 52-week high of $30.93. The stock has a fifty day moving average of $28.51 and a 200 day moving average of $26.02. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 26.78 and a beta of 1.10.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, July 31st. 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 $66.48 million for the quarter, compared to the consensus estimate of $63.70 million. Four Corners Property Trust had a net margin of 37.01% and a return on equity of 7.72%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 EPS. On average, research analysts expect that Four Corners Property Trust, Inc. will post 1.66 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.345 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 4.82%. Four Corners Property Trust’s dividend payout ratio is currently 128.97%.

Analyst Upgrades and Downgrades

FCPT has been the topic of a number of recent research reports. Raymond James increased their price target on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Wells Fargo & Company reissued an “overweight” rating and issued a $32.00 price target (up previously from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. Evercore ISI increased 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 report on Wednesday, August 28th. Finally, JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Four Corners Property Trust has a consensus rating of “Moderate Buy” and a consensus price target of $29.67.

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.