Louisiana State Employees Retirement System bought a new position in Four Corners Property Trust, Inc. (NYSE:FCPT – Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 48,700 shares of the financial services provider’s stock, valued at approximately $1,152,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of FCPT. Parallel Advisors LLC grew its holdings in shares of Four Corners Property Trust by 80.1% in the third quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 463 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Four Corners Property Trust by 829.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,115 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 995 shares during the period. First Horizon Corp boosted its position in Four Corners Property Trust by 147.4% in the fourth quarter. First Horizon Corp now owns 1,190 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 709 shares during the last quarter. Kestra Advisory Services LLC bought a new position in Four Corners Property Trust in the 4th quarter valued at $36,000. Finally, Huntington National Bank grew its stake in Four Corners Property Trust by 114.1% in the 4th quarter. Huntington National Bank now owns 1,569 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 836 shares during the period. Hedge funds and other institutional investors own 98.66% of the company’s stock.
Analyst Ratings Changes
FCPT has been the subject of several research analyst reports. Raymond James Financial decreased their target price on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a research report on Tuesday, March 17th. BMO Capital Markets began coverage on shares of Four Corners Property Trust in a report on Friday, April 17th. They issued a “market perform” rating and a $27.00 price target on the stock. Wells Fargo & Company increased their price target on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Weiss Ratings raised shares of Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 26th. Finally, Citizens Jmp upgraded shares of Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 target price on the stock in a research note on Wednesday, March 25th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.12.
Four Corners Property Trust Stock Performance
NYSE:FCPT opened at $25.08 on Friday. The company has a market capitalization of $2.75 billion, a P/E ratio of 22.39 and a beta of 0.80. The business has a fifty day simple moving average of $24.93 and a two-hundred day simple moving average of $24.66. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.15 and a quick ratio of 0.15. Four Corners Property Trust, Inc. has a 1 year low of $22.78 and a 1 year high of $27.40.
Four Corners Property Trust (NYSE:FCPT – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.14). The firm had revenue of $78.17 million for the quarter, compared to the consensus estimate of $73.34 million. Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. On average, analysts expect that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current year.
Four Corners Property Trust Announces Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.1222 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a c) annualized dividend and a yield of 5.8%. Four Corners Property Trust’s dividend payout ratio is 131.25%.
Insider Buying and Selling
In other Four Corners Property Trust news, CEO William H. Lenehan bought 3,961 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was purchased at an average price of $25.23 per share, for a total transaction of $99,936.03. Following the completion of the transaction, the chief executive officer directly owned 775,696 shares of the company’s stock, valued at $19,570,810.08. This trade represents a 0.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.20% of the stock is currently owned by company insiders.
About Four Corners Property Trust
Four Corners Property Trust is a publicly traded real estate investment trust focused on acquiring and managing single-tenant commercial properties subject to long-term, triple-net leases. The company targets industrial, manufacturing, distribution, office and retail facilities leased to creditworthy tenants. By concentrating on net-lease structures, Four Corners seeks to generate stable, predictable income streams and mitigate operating cost variability.
The firm’s core activities include sourcing off-market and broker-sourced acquisition opportunities, conducting rigorous credit and property due diligence, and structuring lease agreements that shift property taxes, insurance and maintenance expenses to tenants.
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