Legal & General Group Plc bought a new position in Four Corners Property Trust, Inc. (NYSE:FCPT – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 650,103 shares of the financial services provider’s stock, valued at approximately $15,960,000. Legal & General Group Plc owned 0.59% of Four Corners Property Trust at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. AQR Capital Management LLC boosted its holdings in Four Corners Property Trust by 20.3% in the 1st quarter. AQR Capital Management LLC now owns 34,273 shares of the financial services provider’s stock worth $984,000 after acquiring an additional 5,786 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Four Corners Property Trust by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,416 shares of the financial services provider’s stock valued at $1,648,000 after purchasing an additional 2,508 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Four Corners Property Trust by 13.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 681,843 shares of the financial services provider’s stock worth $19,569,000 after purchasing an additional 79,023 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Four Corners Property Trust during the first quarter worth $2,627,000. Finally, American Century Companies Inc. boosted its stake in shares of Four Corners Property Trust by 34.3% in the second quarter. American Century Companies Inc. now owns 37,054 shares of the financial services provider’s stock valued at $997,000 after purchasing an additional 9,460 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.
Four Corners Property Trust Stock Up 0.2%
Shares of NYSE:FCPT opened at $25.29 on Monday. The firm has a market cap of $2.78 billion, a PE ratio of 22.78 and a beta of 0.79. The company has a fifty day simple moving average of $25.32 and a 200 day simple moving average of $25.06. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.39. Four Corners Property Trust, Inc. has a 12-month low of $22.78 and a 12-month high of $26.86.
Four Corners Property Trust Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given 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 dividend yield of 5.8%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 132.43%.
Analyst Ratings Changes
Several research firms recently issued reports on FCPT. Citizens Jmp reaffirmed a “market outperform” rating and set a $28.00 price target on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. Weiss Ratings cut shares of Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Jefferies Financial Group set a $28.00 target price on Four Corners Property Trust in a research note on Tuesday, August 25th. Barclays cut their price target on 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. Finally, Wells Fargo & Company increased their price target on Four Corners Property Trust from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.80.
Read Our Latest Research Report 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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