Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lowered its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,897 shares of the financial services provider’s stock after selling 525 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Four Corners Property Trust were worth $713,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Covestor Ltd boosted its holdings in shares of Four Corners Property Trust by 23.2% in the first quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 470 shares in the last quarter. 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. Larson Financial Group LLC lifted its position in 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 worth $25,000 after purchasing an additional 1,000 shares during the period. Texas Permanent School Fund Corp boosted its stake in Four Corners Property Trust by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 79,262 shares of the financial services provider’s stock valued at $1,940,000 after purchasing an additional 1,028 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Four Corners Property Trust by 8.2% during the 2nd quarter. Van ECK Associates Corp now owns 14,037 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 1,059 shares during the period. Institutional investors own 98.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FCPT shares. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Evercore ISI upped their price target on shares of 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. Raymond James lifted 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 research note on Wednesday, August 21st. Finally, Wells Fargo & Company raised shares of Four Corners Property Trust to a “strong-buy” rating in a research note on Monday, August 12th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Four Corners Property Trust Trading Up 2.1 %

NYSE:FCPT opened at $30.40 on Monday. The stock has a fifty day simple moving average of $27.39 and a 200 day simple moving average of $25.29. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 28.41 and a beta of 1.10. Four Corners Property Trust, Inc. has a 1-year low of $20.51 and a 1-year high of $30.44.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $66.48 million during the quarter, compared to analyst estimates of $63.70 million. During the same quarter in the previous year, the business earned $0.42 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. Sell-side analysts forecast that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current year.

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.