New Age Alpha Advisors LLC decreased its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT – Free Report) by 40.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 53,781 shares of the financial services provider’s stock after selling 36,173 shares during the period. New Age Alpha Advisors LLC’s holdings in Four Corners Property Trust were worth $1,240,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Four Corners Property Trust by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 12,057,364 shares of the financial services provider’s stock worth $278,043,000 after acquiring an additional 344,852 shares in the last quarter. State Street Corp boosted its stake in shares of Four Corners Property Trust by 2.0% during the 2nd quarter. State Street Corp now owns 5,811,410 shares of the financial services provider’s stock worth $158,408,000 after acquiring an additional 116,711 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Four Corners Property Trust by 20,354.6% during 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 acquiring an additional 4,593,018 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Four Corners Property Trust by 7.2% during the 3rd quarter. Victory Capital Management Inc. now owns 3,902,064 shares of the financial services provider’s stock worth $95,210,000 after acquiring an additional 262,581 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Four Corners Property Trust by 23.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,159,994 shares of the financial services provider’s stock worth $58,125,000 after acquiring an additional 417,134 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.
Four Corners Property Trust Price Performance
FCPT stock opened at $24.97 on Thursday. Four Corners Property Trust, Inc. has a 1 year low of $22.78 and a 1 year high of $28.11. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.15 and a current ratio of 0.15. The stock’s 50 day moving average price is $24.79 and its 200 day moving average price is $24.47. The firm has a market cap of $2.74 billion, a P/E ratio of 22.30 and a beta of 0.83.
Four Corners Property Trust Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a $0.3665 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.47 dividend on an annualized basis and a yield of 5.9%. Four Corners Property Trust’s dividend payout ratio is presently 131.25%.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on FCPT. Weiss Ratings raised Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 20th. Raymond James Financial decreased their price target on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 17th. BMO Capital Markets began coverage on Four Corners Property Trust in a research note on Friday, April 17th. They set a “market perform” rating and a $27.00 price target on the stock. Barclays boosted their price target on Four Corners Property Trust from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 21st. Finally, Citizens Jmp raised Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 price target on the stock in a research note on Wednesday, March 25th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $28.00.
View Our Latest Report on Four Corners Property Trust
Insider Transactions at Four Corners Property Trust
In other Four Corners Property Trust news, CEO William H. Lenehan purchased 3,961 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was bought at an average cost of $25.23 per share, for a total transaction of $99,936.03. Following the acquisition, the chief executive officer owned 775,696 shares of the company’s stock, valued at approximately $19,570,810.08. The trade was a 0.51% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.20% of the company’s stock.
Four Corners Property Trust Company 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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