Stevens Capital Management LP Buys New Stake in Four Corners Property Trust Inc (FCPT)

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Stevens Capital Management LP bought a new stake in shares of Four Corners Property Trust Inc (NYSE:FCPT) in the first quarter, HoldingsChannel reports. The institutional investor bought 8,278 shares of the financial services provider’s stock, valued at approximately $245,000.

Several other large investors also recently added to or reduced their stakes in FCPT. Texas Permanent School Fund boosted its holdings in Four Corners Property Trust by 4.7% in the first quarter. Texas Permanent School Fund now owns 46,408 shares of the financial services provider’s stock worth $1,374,000 after acquiring an additional 2,070 shares in the last quarter. Comerica Bank boosted its holdings in Four Corners Property Trust by 2.7% in the first quarter. Comerica Bank now owns 68,673 shares of the financial services provider’s stock worth $2,009,000 after acquiring an additional 1,811 shares in the last quarter. Rhumbline Advisers boosted its holdings in Four Corners Property Trust by 0.9% in the first quarter. Rhumbline Advisers now owns 205,847 shares of the financial services provider’s stock worth $6,093,000 after acquiring an additional 1,766 shares in the last quarter. Royal London Asset Management Ltd. bought a new position in Four Corners Property Trust in the first quarter worth approximately $26,000. Finally, Osborn Williams & Donohoe LLC bought a new position in Four Corners Property Trust in the first quarter worth approximately $101,000. Hedge funds and other institutional investors own 91.93% of the company’s stock.

Shares of FCPT stock traded down $0.16 during trading hours on Monday, reaching $29.07. The company had a trading volume of 1,310 shares, compared to its average volume of 368,867. Four Corners Property Trust Inc has a 12 month low of $21.92 and a 12 month high of $29.85. The company has a quick ratio of 5.78, a current ratio of 5.78 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $2.00 billion, a PE ratio of 20.73 and a beta of 0.29.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.10). Four Corners Property Trust had a net margin of 56.35% and a return on equity of 12.63%. The company had revenue of $39.60 million during the quarter, compared to the consensus estimate of $39.84 million. During the same quarter in the prior year, the business earned $0.34 EPS. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities research analysts anticipate that Four Corners Property Trust Inc will post 1.44 earnings per share for the current fiscal year.

Several research analysts have issued reports on the company. Zacks Investment Research upgraded Four Corners Property Trust from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Friday, February 15th. Boenning Scattergood reiterated a “buy” rating and issued a $30.00 price target on shares of Four Corners Property Trust in a report on Wednesday, April 24th. Berenberg Bank assumed coverage on Four Corners Property Trust in a report on Tuesday, April 23rd. They issued a “hold” rating and a $36.00 price target on the stock. Finally, Barclays began coverage on Four Corners Property Trust in a report on Wednesday, May 15th. They issued an “equal weight” rating and a $29.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $30.40.

In other news, CFO Gerald R. Morgan sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $27.41, for a total value of $82,230.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel James L. Brat sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $27.41, for a total value of $164,460.00. The disclosure for this sale can be found here. 0.71% of the stock is owned by company insiders.

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About Four Corners Property Trust

FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio primarily by acquiring additional real estate to lease, on a net basis, for use in the restaurant and food industry.

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Want to see what other hedge funds are holding FCPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Four Corners Property Trust Inc (NYSE:FCPT).

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

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