Prudential Financial Inc. reduced its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 5.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,785,281 shares of the financial services provider’s stock after selling 109,725 shares during the period. Prudential Financial Inc. owned approximately 2.92% of Four Corners Property Trust worth $44,828,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its position in shares of Four Corners Property Trust by 3.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 43,642 shares of the financial services provider’s stock worth $1,096,000 after buying an additional 1,492 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Four Corners Property Trust by 13.6% in the second quarter. BNP Paribas Arbitrage SA now owns 36,992 shares of the financial services provider’s stock worth $929,000 after buying an additional 4,428 shares in the last quarter. Comerica Bank raised its position in shares of Four Corners Property Trust by 11.1% in the second quarter. Comerica Bank now owns 63,816 shares of the financial services provider’s stock worth $1,607,000 after buying an additional 6,357 shares in the last quarter. Legal & General Group Plc raised its position in shares of Four Corners Property Trust by 9.2% in the second quarter. Legal & General Group Plc now owns 251,246 shares of the financial services provider’s stock worth $6,309,000 after buying an additional 21,226 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Four Corners Property Trust during the second quarter worth approximately $106,000. 87.84% of the stock is currently owned by institutional investors.

Four Corners Property Trust, Inc. (FCPT) opened at 25.09 on Wednesday. The stock’s 50 day moving average price is $24.97 and its 200-day moving average price is $23.68. Four Corners Property Trust, Inc. has a one year low of $16.71 and a one year high of $25.94. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 18.52 and a beta of 0.15.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.01. Four Corners Property Trust had a return on equity of 17.21% and a net margin of 63.74%. The company had revenue of $33.20 million for the quarter, compared to analysts’ expectations of $33.33 million. During the same quarter in the previous year, the business earned $0.33 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. Analysts forecast that Four Corners Property Trust, Inc. will post $1.03 earnings per share for the current year.

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A number of research analysts have recently commented on FCPT shares. Zacks Investment Research lowered Four Corners Property Trust from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. Canaccord Genuity started coverage on Four Corners Property Trust in a report on Tuesday, July 18th. They set a “hold” rating and a $26.00 price objective on the stock. BidaskClub lowered Four Corners Property Trust from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Four Corners Property Trust in a report on Thursday, August 3rd. Finally, UBS AG raised Four Corners Property Trust from a “market perform” rating to an “outperform” rating in a report on Tuesday, August 15th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Four Corners Property Trust presently has a consensus rating of “Buy” and an average target price of $26.75.

About Four Corners Property Trust

Four Corners Property Trust, Inc is a self-administered company and real estate investment trust (REIT), which owns, acquires and leases properties for use in the restaurant and food service related industries. The Company operates through two segments: real estate operations and restaurant operations.

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Institutional Ownership by Quarter for Four Corners Property Trust (NYSE:FCPT)

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