Odyssean LLC Makes New $1.07 Million Investment in Four Corners Property Trust, Inc. $FCPT

Odyssean LLC bought a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPTFree Report) in the second quarter, Holdings Channel reports. The fund bought 43,706 shares of the financial services provider’s stock, valued at approximately $1,073,000.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Four Corners Property Trust in the second quarter valued at about $490,406,000. Northwestern Mutual Wealth Management Co. raised its stake in Four Corners Property Trust by 20,354.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,615,583 shares of the financial services provider’s stock worth $106,435,000 after purchasing an additional 4,593,018 shares in the last quarter. Lasalle Investment Management Securities LLC acquired a new stake in Four Corners Property Trust in the 4th quarter worth about $32,889,000. Bank of New York Mellon Corp bought a new stake in Four Corners Property Trust in the 2nd quarter valued at about $25,196,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in Four Corners Property Trust by 75.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,345,427 shares of the financial services provider’s stock valued at $55,469,000 after purchasing an additional 1,010,648 shares during the period. Institutional investors own 98.66% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Huntington started coverage on shares of Four Corners Property Trust in a research report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 target price on the stock. UBS Group reissued a “buy” rating and set a $30.00 price target on shares of Four Corners Property Trust in a research report on Thursday, July 9th. Citizens Jmp restated a “market outperform” rating and set a $28.00 price objective on shares of Four Corners Property Trust in a research note on Tuesday. Weiss Ratings cut Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Jefferies Financial Group set a $28.00 target price on Four Corners Property Trust in a research report on Tuesday. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Four Corners Property Trust currently has an average rating of “Moderate Buy” and a consensus price target of $27.80.

Get Our Latest Stock Report on Four Corners Property Trust

Four Corners Property Trust Stock Down 0.1%

Shares of FCPT opened at $25.33 on Thursday. Four Corners Property Trust, Inc. has a one year low of $22.78 and a one year high of $26.86. The company has a market cap of $2.78 billion, a P/E ratio of 22.82 and a beta of 0.79. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a 50 day simple moving average of $25.29 and a two-hundred day simple moving average of $25.06.

Four Corners Property Trust (NYSE:FCPTGet Free Report) last released its earnings results on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.16. The firm had revenue of $78.42 million during the quarter, compared to analysts’ expectations of $79.02 million. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.During the same period in the prior year, the company earned $0.44 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Research 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 business also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.1222 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. Four Corners Property Trust’s dividend payout ratio is 131.53%.

About Four Corners Property Trust

(Free Report)

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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Institutional Ownership by Quarter for Four Corners Property Trust (NYSE:FCPT)

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