Neuberger Berman Group LLC Sells 21,920 Shares of Four Corners Property Trust, Inc. (FCPT)

Neuberger Berman Group LLC cut its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 20.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,855 shares of the financial services provider’s stock after selling 21,920 shares during the period. Neuberger Berman Group LLC owned approximately 0.14% of Four Corners Property Trust worth $2,080,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FCPT. Parametric Portfolio Associates LLC lifted its position in Four Corners Property Trust by 2.0% during the 1st quarter. Parametric Portfolio Associates LLC now owns 88,925 shares of the financial services provider’s stock worth $2,030,000 after acquiring an additional 1,741 shares during the last quarter. LS Investment Advisors LLC lifted its position in Four Corners Property Trust by 287.1% during the 1st quarter. LS Investment Advisors LLC now owns 8,252 shares of the financial services provider’s stock worth $188,000 after acquiring an additional 6,120 shares during the last quarter. Waratah Capital Advisors Ltd. acquired a new position in Four Corners Property Trust during the 1st quarter worth $245,000. OppenheimerFunds Inc. lifted its position in Four Corners Property Trust by 3.6% during the 1st quarter. OppenheimerFunds Inc. now owns 1,312,612 shares of the financial services provider’s stock worth $29,967,000 after acquiring an additional 45,833 shares during the last quarter. Finally, Meadow Creek Investment Management LLC lifted its position in Four Corners Property Trust by 33.9% during the 1st quarter. Meadow Creek Investment Management LLC now owns 4,424 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 1,120 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Four Corners Property Trust, Inc. (NYSE:FCPT) opened at 25.47 on Friday. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 18.80 and a beta of 0.17. The firm’s 50-day moving average is $25.00 and its 200-day moving average is $24.04. Four Corners Property Trust, Inc. has a 52-week low of $16.71 and a 52-week high of $25.94.

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

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A number of research analysts have weighed in on FCPT shares. Raymond James Financial, Inc. raised shares of Four Corners Property Trust from a “market perform” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Tuesday, August 15th. BidaskClub raised shares of Four Corners Property Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Ladenburg Thalmann Financial Services reissued a “buy” rating and set a $27.00 target price (up previously from $24.00) on shares of Four Corners Property Trust in a research report on Wednesday, August 16th. Zacks Investment Research raised shares of Four Corners Property Trust from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Wednesday, July 12th. Finally, Canaccord Genuity started coverage on shares of Four Corners Property Trust in a research report on Tuesday, July 18th. They set a “hold” rating and a $26.00 target price for the company. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $26.75.

Four Corners Property Trust 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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