Inspire Investing LLC Sells 407 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Inspire Investing LLC trimmed its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 2.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 16,143 shares of the financial services provider’s stock after selling 407 shares during the quarter. Inspire Investing LLC’s holdings in Four Corners Property Trust were worth $398,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Four Corners Property Trust during the fourth quarter valued at approximately $223,000. Beacon Pointe Advisors LLC boosted its stake in Four Corners Property Trust by 12.3% during the 4th quarter. Beacon Pointe Advisors LLC now owns 13,377 shares of the financial services provider’s stock valued at $338,000 after purchasing an additional 1,462 shares during the last quarter. Norges Bank bought a new stake in shares of Four Corners Property Trust in the 4th quarter worth $14,546,000. PNC Financial Services Group Inc. raised its stake in shares of Four Corners Property Trust by 31.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,626 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 2,551 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Four Corners Property Trust by 50.0% during the fourth quarter. Wells Fargo & Company MN now owns 609,208 shares of the financial services provider’s stock valued at $15,413,000 after purchasing an additional 203,047 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Raymond James boosted their target price 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. Wells Fargo & Company upgraded shares of Four Corners Property Trust to a “strong-buy” rating in a research report on Monday, August 12th. Evercore ISI lifted their target price on shares of 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 reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Four Corners Property Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

Four Corners Property Trust Stock Performance

Shares of NYSE FCPT opened at $29.78 on Friday. The firm has a 50 day moving average of $27.90 and a 200 day moving average of $25.49. 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 firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 27.83 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 posted its quarterly earnings data 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). The company had revenue of $66.48 million during the quarter, compared to analysts’ expectations of $63.70 million. Four Corners Property Trust had a return on equity of 7.72% and a net margin of 37.01%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned $0.42 earnings per share. On average, research analysts anticipate that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.345 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 4.63%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 128.97%.

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.