Edgestream Partners L.P. increased its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT – Free Report) by 36.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 182,870 shares of the financial services provider’s stock after purchasing an additional 49,267 shares during the period. Edgestream Partners L.P. owned 0.17% of Four Corners Property Trust worth $4,325,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in FCPT. Amundi lifted its stake in shares of Four Corners Property Trust by 2.8% during the first quarter. Amundi now owns 55,318 shares of the financial services provider’s stock worth $1,308,000 after purchasing an additional 1,498 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Four Corners Property Trust by 44.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,181 shares of the financial services provider’s stock valued at $52,000 after buying an additional 667 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of Four Corners Property Trust by 31.3% in the first quarter. California State Teachers Retirement System now owns 129,786 shares of the financial services provider’s stock valued at $3,069,000 after buying an additional 30,903 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Four Corners Property Trust by 148.4% during the 1st quarter. Quantinno Capital Management LP now owns 183,279 shares of the financial services provider’s stock valued at $4,335,000 after buying an additional 109,507 shares during the period. Finally, Lazard Asset Management LLC raised its holdings in shares of Four Corners Property Trust by 26.6% during the 1st quarter. Lazard Asset Management LLC now owns 77,982 shares of the financial services provider’s stock valued at $1,844,000 after buying an additional 16,391 shares during the period. 98.66% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Four Corners Property Trust
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 shares were bought at an average cost of $25.23 per share, with a total value of $99,936.03. Following the transaction, the chief executive officer directly owned 775,696 shares in the company, valued at approximately $19,570,810.08. This trade represents a 0.51% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.20% of the stock is owned by corporate insiders.
Four Corners Property Trust Stock Up 0.2%
Four Corners Property Trust (NYSE:FCPT – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.14). The business had revenue of $78.17 million during the quarter, compared to analyst estimates of $73.34 million. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.The company’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 EPS. As a group, equities analysts forecast that Four Corners Property Trust, Inc. will post 1.76 EPS for the current fiscal year.
Four Corners Property Trust Dividend Announcement
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 is Wednesday, September 30th. This represents a c) annualized dividend and a yield of 5.7%. Four Corners Property Trust’s payout ratio is currently 132.43%.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on FCPT shares. Huntington initiated coverage on Four Corners Property Trust in a research report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 price target on the stock. BMO Capital Markets started coverage on shares of Four Corners Property Trust in a research report on Friday, April 17th. They issued a “market perform” rating and a $27.00 price objective for the company. Barclays dropped their price objective on shares of Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 22nd. 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, Citigroup reissued a “market outperform” rating on shares of Four Corners Property Trust in a research report on Monday, June 1st. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $27.78.
Read Our Latest Analysis on FCPT
Four Corners Property Trust Profile
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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