Victory Capital Management Inc. Trims Stock Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

Victory Capital Management Inc. lessened its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,401,362 shares of the financial services provider’s stock after selling 190,474 shares during the quarter. Victory Capital Management Inc. owned approximately 4.75% of Four Corners Property Trust worth $129,004,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in FCPT. Earnest Partners LLC lifted its stake in shares of Four Corners Property Trust by 31.3% during the 2nd quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider’s stock worth $78,667,000 after purchasing an additional 759,749 shares during the period. William Blair Investment Management LLC boosted its stake in Four Corners Property Trust by 26.7% in the 1st quarter. William Blair Investment Management LLC now owns 1,410,376 shares of the financial services provider’s stock worth $34,512,000 after buying an additional 297,300 shares during the last quarter. Boston Trust Walden Corp grew its holdings in Four Corners Property Trust by 18.7% in the 2nd quarter. Boston Trust Walden Corp now owns 1,216,760 shares of the financial services provider’s stock valued at $30,017,000 after buying an additional 191,259 shares during the period. Vanguard Group Inc. increased its stake in shares of Four Corners Property Trust by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 10,635,297 shares of the financial services provider’s stock valued at $260,246,000 after acquiring an additional 116,453 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Four Corners Property Trust by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider’s stock worth $51,996,000 after acquiring an additional 102,662 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Price Performance

Four Corners Property Trust stock opened at $27.92 on Wednesday. The firm has a fifty day moving average of $28.99 and a 200-day moving average of $26.78. Four Corners Property Trust, Inc. has a 52-week low of $21.60 and a 52-week high of $30.93. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $2.70 billion, a P/E ratio of 26.09 and a beta of 1.11.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.14). The company had revenue of $66.79 million during the quarter, compared to analyst estimates of $63.50 million. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 earnings per share. As a group, 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 announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.345 per share. The ex-dividend date was Monday, September 30th. This represents a $1.38 annualized dividend and a dividend yield of 4.94%. Four Corners Property Trust’s payout ratio is currently 128.97%.

Analyst Upgrades and Downgrades

FCPT has been the topic of a number of recent analyst reports. Raymond James increased their price target 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. 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. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $32.00 price target (up from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st.

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.