PNC Financial Services Group Inc. Boosts Stock Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

PNC Financial Services Group Inc. lifted its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 31.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,626 shares of the financial services provider’s stock after purchasing an additional 2,551 shares during the period. PNC Financial Services Group Inc.’s holdings in Four Corners Property Trust were worth $269,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FCPT. Vanguard Group Inc. lifted its holdings in Four Corners Property Trust by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 10,518,844 shares of the financial services provider’s stock worth $266,127,000 after buying an additional 294,240 shares during the period. Vancity Investment Management Ltd lifted its holdings in Four Corners Property Trust by 21.4% in the fourth quarter. Vancity Investment Management Ltd now owns 32,057 shares of the financial services provider’s stock worth $811,000 after buying an additional 5,643 shares during the period. Westwood Holdings Group Inc. lifted its holdings in Four Corners Property Trust by 2.3% in the fourth quarter. Westwood Holdings Group Inc. now owns 2,525,518 shares of the financial services provider’s stock worth $63,896,000 after buying an additional 57,167 shares during the period. Capital International Investors lifted its holdings in Four Corners Property Trust by 14.2% in the fourth quarter. Capital International Investors now owns 1,807,880 shares of the financial services provider’s stock worth $45,739,000 after buying an additional 225,327 shares during the period. Finally, Centersquare Investment Management LLC lifted its holdings in Four Corners Property Trust by 8.9% in the fourth quarter. Centersquare Investment Management LLC now owns 14,516 shares of the financial services provider’s stock worth $367,000 after buying an additional 1,184 shares during the period. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Four Corners Property Trust Stock Performance

Shares of FCPT opened at $24.44 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.14 and a quick ratio of 0.14. Four Corners Property Trust, Inc. has a one year low of $20.51 and a one year high of $27.60. The company has a 50-day simple moving average of $24.30 and a two-hundred day simple moving average of $24.19. The firm has a market capitalization of $2.25 billion, a PE ratio of 22.84 and a beta of 1.08.

Four Corners Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 5.65%. The ex-dividend date is Friday, June 28th. Four Corners Property Trust’s dividend payout ratio is 128.97%.

Insider Buying and Selling at Four Corners Property Trust

In other Four Corners Property Trust news, CEO William H. Lenehan bought 6,230 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was acquired at an average price of $24.05 per share, with a total value of $149,831.50. Following the completion of the purchase, the chief executive officer now owns 620,394 shares of the company’s stock, valued at $14,920,475.70. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director John S. Moody sold 7,230 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $24.56, for a total transaction of $177,568.80. Following the completion of the sale, the director now owns 61,108 shares of the company’s stock, valued at $1,500,812.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 shares were purchased at an average cost of $24.05 per share, with a total value of $149,831.50. Following the transaction, the chief executive officer now directly 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.

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.