Morgan Stanley lowered its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 42.3% during the first quarter, Holdings Channel reports. The fund owned 194,171 shares of the financial services provider’s stock after selling 142,459 shares during the period. Morgan Stanley’s holdings in Four Corners Property Trust were worth $4,433,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Parametric Portfolio Associates LLC increased its position in shares of Four Corners Property Trust by 2.0% in the first quarter. Parametric Portfolio Associates LLC now owns 88,925 shares of the financial services provider’s stock valued at $2,030,000 after buying an additional 1,741 shares during the last quarter. LS Investment Advisors LLC increased its position in shares of Four Corners Property Trust by 287.1% in the first quarter. LS Investment Advisors LLC now owns 8,252 shares of the financial services provider’s stock valued at $188,000 after buying an additional 6,120 shares during the last quarter. Waratah Capital Advisors Ltd. purchased a new position in shares of Four Corners Property Trust during the first quarter valued at approximately $245,000. Creative Planning increased its position in shares of Four Corners Property Trust by 3.9% in the first quarter. Creative Planning now owns 6,782 shares of the financial services provider’s stock valued at $155,000 after buying an additional 252 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Four Corners Property Trust during the fourth quarter valued at approximately $9,776,000. Institutional investors own 87.90% of the company’s stock.

Shares of Four Corners Property Trust, Inc. (NYSE FCPT) traded down 0.62% during trading on Friday, reaching $23.90. 409,985 shares of the company’s stock were exchanged. The stock has a market cap of $1.46 billion, a P/E ratio of 17.64 and a beta of 0.15. The company has a 50 day moving average of $25.05 and a 200 day moving average of $23.41. Four Corners Property Trust, Inc. has a 12-month low of $16.71 and a 12-month high of $25.94.

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

The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend was Wednesday, June 28th. Four Corners Property Trust’s dividend payout ratio (DPR) is 71.85%.

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FCPT has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Four Corners Property Trust from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Four Corners Property Trust in a report on Thursday, August 3rd. BidaskClub downgraded shares of Four Corners Property Trust from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Canaccord Genuity initiated coverage on shares of Four Corners Property Trust in a report on Tuesday, July 18th. They set a “hold” rating and a $26.00 price target on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Four Corners Property Trust currently has a consensus rating of “Hold” and an average target price of $27.00.

Four Corners Property Trust Company Profile

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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