Inspire Investing LLC Sells 424 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Inspire Investing LLC lowered its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 2.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,719 shares of the financial services provider’s stock after selling 424 shares during the quarter. Inspire Investing LLC’s holdings in Four Corners Property Trust were worth $461,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Cape ANN Savings Bank acquired a new stake in shares of Four Corners Property Trust during the 3rd quarter worth approximately $200,000. GAMMA Investing LLC boosted its stake in Four Corners Property Trust by 24.0% in the third quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 814 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in Four Corners Property Trust by 51.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 28,695 shares of the financial services provider’s stock worth $841,000 after acquiring an additional 9,700 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Four Corners Property Trust during the 2nd quarter valued at $452,000. Finally, Algert Global LLC bought a new stake in shares of Four Corners Property Trust during the 2nd quarter valued at $229,000. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Stock Performance

Shares of Four Corners Property Trust stock opened at $29.21 on Wednesday. The stock’s fifty day simple moving average is $28.54 and its 200 day simple moving average is $26.05. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $2.69 billion, a PE ratio of 27.30 and a beta of 1.10. Four Corners Property Trust, Inc. has a 12 month low of $20.51 and a 12 month high of $30.93.

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). Four Corners Property Trust had a return on equity of 7.72% and a net margin of 37.01%. The business had revenue of $66.48 million for the quarter, compared to analyst estimates of $63.70 million. During the same period in the prior year, the business earned $0.42 EPS. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, research analysts predict that Four Corners Property Trust, Inc. will post 1.66 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend was Monday, September 30th. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 128.97%.

Analyst Ratings Changes

FCPT has been the topic of several recent research reports. Raymond James raised their price target on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Evercore ISI raised their target price on Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 price target (up from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Four Corners Property Trust presently 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.