ProShare Advisors LLC Sells 4,283 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

ProShare Advisors LLC lessened its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 23.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 13,965 shares of the financial services provider’s stock after selling 4,283 shares during the period. ProShare Advisors LLC’s holdings in Four Corners Property Trust were worth $345,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Larson Financial Group LLC raised its holdings in Four Corners Property Trust by 25,000.0% during the first quarter. Larson Financial Group LLC now owns 1,004 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 1,000 shares in the last quarter. Covestor Ltd raised its holdings in Four Corners Property Trust by 23.2% during the first quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 470 shares in the last quarter. Blue Trust Inc. raised its holdings in Four Corners Property Trust by 1,469.1% during the second quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 3,467 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Four Corners Property Trust by 491.0% during the first quarter. Lazard Asset Management LLC now owns 7,973 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 6,624 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Four Corners Property Trust by 31.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,626 shares of the financial services provider’s stock worth $269,000 after acquiring an additional 2,551 shares in the last quarter. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Price Performance

NYSE:FCPT opened at $29.02 on Thursday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average price is $28.28 and its two-hundred day moving average price is $25.77. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 27.12 and a beta of 1.10. Four Corners Property Trust, Inc. has a 12-month low of $20.51 and a 12-month high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.14). Four Corners Property Trust had a net margin of 37.01% and a return on equity of 7.72%. The firm had revenue of $66.48 million during the quarter, compared to analyst estimates of $63.70 million. During the same period in the previous year, the company posted $0.42 EPS. Four Corners Property Trust’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, analysts anticipate that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 4.76%. The ex-dividend date is Monday, September 30th. Four Corners Property Trust’s payout ratio is 128.97%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on FCPT shares. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Raymond James upped their target price on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Wells Fargo & Company restated an “overweight” rating and issued a $32.00 price objective (up previously from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday. Finally, Evercore ISI upped their price objective on Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Four Corners Property Trust presently has a consensus rating of “Hold” and an average price target of $28.75.

Four Corners Property Trust Company Profile

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.