Four Corners Property Trust Inc (FCPT) : Route One Investment Company reduced its stake in Four Corners Property Trust Inc by 56.88% during the most recent quarter end. The investment management company now holds a total of 2,042,067 shares of Four Corners Property Trust Inc which is valued at $44,496,640 after selling 2,693,223 shares in Four Corners Property Trust Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Four Corners Property Trust Inc makes up approximately 2.38% of Route One Investment Company’s portfolio.
Other Hedge Funds, Including , Marshall Wace Llp sold out all of its stake in FCPT during the most recent quarter. The investment firm sold 16,301 shares of FCPT which is valued $355,199.Mizuho Trust Banking Ltd. boosted its stake in FCPT in the latest quarter, The investment management firm added 758 additional shares and now holds a total of 10,482 shares of Four Corners Property Trust Inc which is valued at $224,524. Meag Munich Ergo Kapitalanlagegesellschaft Mbh sold out all of its stake in FCPT during the most recent quarter. The investment firm sold 35,219 shares of FCPT which is valued $764,604.
On the company’s financial health, Four Corners Property Trust Inc reported $0.30 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $0.33. The company had revenue of $30.91 million for the quarter, compared to analysts expectations of $31.40 million. The company’s revenue was up 569.0% compared to the same quarter last year.
Many Wall Street Analysts have commented on Four Corners Property Trust Inc. Four Corners Property Trust Inc was Downgraded by JMP Securities to ” Mkt Perform” on Aug 22, 2016. Company shares were Downgraded by Robert W. Baird on Jul 12, 2016 to ” Neutral”, Firm has raised the Price Target to $ 21 from a previous price target of $20 .
Four Corners Property Trust Inc. is engaged in owning acquiring and leasing properties on a triple-net basis for use in the restaurant industry and other industries. The Company owns approximately 424 restaurant properties. The Company’s properties are located across approximately 44 states in the United States. The Company’s portfolio includes around 300 Olive Garden restaurants 104 LongHorn Steakhouse restaurants 11 Bahama Breeze restaurants two Seasons 52 restaurants one Wildfish Seafood Grille restaurant as well as the six properties that consist of the LongHorn San Antonio Business. The Company acquires properties to lease to restaurant operators on a triple-net basis through sale-leaseback transactions. The Company operates as a dining company. The Company operates around 40 restaurants in the west 41 in the northeast 161 in the southeast 115 in the Midwest and 61 in the south in the United States.