Mitsubishi UFJ Asset Management Co. Ltd. Purchases 4,015 Shares of Four Corners Property Trust, Inc. $FCPT

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 5.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,921 shares of the financial services provider’s stock after purchasing an additional 4,015 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Four Corners Property Trust were worth $1,935,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Four Corners Property Trust by 3.7% during the first quarter. Vanguard Group Inc. now owns 11,275,334 shares of the financial services provider’s stock worth $323,602,000 after purchasing an additional 400,396 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Four Corners Property Trust by 3.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,661,915 shares of the financial services provider’s stock valued at $47,697,000 after buying an additional 48,937 shares during the last quarter. Northern Trust Corp boosted its position in Four Corners Property Trust by 4.5% during the 1st quarter. Northern Trust Corp now owns 1,389,909 shares of the financial services provider’s stock worth $39,890,000 after buying an additional 59,823 shares during the period. Cbre Investment Management Listed Real Assets LLC boosted its position in Four Corners Property Trust by 63.1% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,342,834 shares of the financial services provider’s stock worth $38,539,000 after buying an additional 519,633 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new stake in Four Corners Property Trust during the 1st quarter worth approximately $33,515,000. 98.66% of the stock is currently owned by institutional investors.

Four Corners Property Trust Stock Performance

FCPT stock opened at $24.11 on Friday. The firm has a market cap of $2.56 billion, a PE ratio of 22.12 and a beta of 0.88. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.39. The stock has a 50-day moving average price of $24.52 and a 200-day moving average price of $25.98. Four Corners Property Trust, Inc. has a 1-year low of $23.05 and a 1-year high of $30.12.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Tuesday, October 28th. The financial services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. The business had revenue of $74.15 million during the quarter, compared to analysts’ expectations of $71.86 million. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.04%.The firm’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 earnings per share. As a group, equities research analysts expect that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $0.3665 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $1.47 annualized dividend and a dividend yield of 6.1%. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.36. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 130.28%.

Analyst Ratings Changes

Several research firms have recently issued reports on FCPT. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Tuesday, October 14th. Barclays decreased their price objective on Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Monday, October 20th. Raymond James Financial lowered their target price on Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. Robert W. Baird set a $29.00 price target on Four Corners Property Trust in a research report on Wednesday, October 29th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $27.00 price target (down previously from $29.00) on shares of Four Corners Property Trust in a research note on Thursday, September 11th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.80.

Insider Activity

In other Four Corners Property Trust news, CAO Niccole Stewart sold 3,950 shares of the firm’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $25.30, for a total value of $99,935.00. Following the completion of the sale, the chief accounting officer directly owned 27,502 shares in the company, valued at approximately $695,800.60. This trade represents a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William H. Lenehan purchased 7,850 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was bought at an average cost of $25.40 per share, with a total value of $199,390.00. Following the completion of the purchase, the chief executive officer owned 698,426 shares of the company’s stock, valued at approximately $17,740,020.40. This represents a 1.14% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.20% of the stock is currently owned by company insiders.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.