Versor Investments LP Purchases 20,750 Shares of Four Corners Property Trust, Inc. $FCPT

Versor Investments LP raised its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 112.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,150 shares of the financial services provider’s stock after buying an additional 20,750 shares during the quarter. Versor Investments LP’s holdings in Four Corners Property Trust were worth $903,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised 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 valued at $278,043,000 after purchasing an additional 344,852 shares during the period. State Street Corp raised 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 valued at $158,408,000 after purchasing an additional 116,711 shares during the period. Victory Capital Management Inc. raised 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 valued at $95,210,000 after purchasing an additional 262,581 shares during the period. Balyasny Asset Management L.P. raised 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 valued at $58,125,000 after purchasing an additional 417,134 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Four Corners Property Trust by 5.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,483,048 shares of the financial services provider’s stock valued at $36,186,000 after purchasing an additional 76,666 shares during the period. 98.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FCPT has been the topic of a number of analyst reports. Citizens Jmp upgraded Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 price objective on the stock in a research note on Wednesday, March 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Wednesday, April 8th. Raymond James Financial decreased their price objective 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 initiated 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 objective on the stock. Finally, Barclays boosted their price objective on Four Corners Property Trust from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Four Corners Property Trust has a consensus rating of “Hold” and an average target price of $28.00.

Insiders Place Their Bets

In related news, CEO William H. Lenehan bought 3,961 shares of the company’s stock in a transaction that occurred 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 directly owned 775,696 shares of the company’s stock, valued at $19,570,810.08. The trade was a 0.51% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by corporate insiders.

Four Corners Property Trust Price Performance

Shares of NYSE FCPT opened at $25.07 on Wednesday. The stock’s 50-day simple moving average is $24.96 and its two-hundred day simple moving average is $24.40. Four Corners Property Trust, Inc. has a twelve month low of $22.78 and a twelve month high of $28.11. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $2.75 billion, a P/E ratio of 22.38 and a beta of 0.83.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.14). Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.The firm had revenue of $78.17 million during the quarter, compared to analysts’ expectations of $73.34 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. Four Corners Property Trust’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities analysts anticipate that Four Corners Property Trust, Inc. will post 1.75 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a dividend of $0.3665 per share. The ex-dividend date was Tuesday, March 31st. This represents a $1.47 annualized dividend and a yield of 5.8%. Four Corners Property Trust’s dividend payout ratio is currently 131.25%.

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.