Manning & Napier Advisors LLC Makes New $9.81 Million Investment in Four Corners Property Trust, Inc. $FCPT

Manning & Napier Advisors LLC acquired a new stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 399,486 shares of the financial services provider’s stock, valued at approximately $9,807,000. Manning & Napier Advisors LLC owned 0.36% of Four Corners Property Trust as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Parallel Advisors LLC boosted its position in Four Corners Property Trust by 80.1% in the third quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock valued at $25,000 after buying an additional 463 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Four Corners Property Trust by 829.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,115 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 995 shares in the last quarter. Huntington National Bank boosted its holdings in shares of Four Corners Property Trust by 114.1% in the 4th quarter. Huntington National Bank now owns 1,569 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 836 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Four Corners Property Trust during the 4th quarter worth approximately $36,000. Finally, Bessemer Group Inc. grew its position in Four Corners Property Trust by 326.1% during the 1st quarter. Bessemer Group Inc. now owns 1,649 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 1,262 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Price Performance

Four Corners Property Trust stock opened at $25.52 on Tuesday. The business’s 50-day simple moving average is $25.26 and its 200 day simple moving average is $25.06. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.39. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 22.99 and a beta of 0.79. 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 (NYSE:FCPT) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.16. Four Corners Property Trust had a net margin of 38.70% and a return on equity of 7.35%. The business had revenue of $78.42 million for the quarter, compared to analyst estimates of $79.02 million. During the same period in the prior year, the business posted $0.44 earnings per share. Four Corners Property Trust’s revenue was up 7.7% compared to the same quarter last year. As a group, research analysts anticipate that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.1222 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a c) annualized dividend and a yield of 5.7%. Four Corners Property Trust’s dividend payout ratio is presently 132.43%.

Analysts Set New Price Targets

A number of research firms have commented on FCPT. Barclays reduced their price objective 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. Citigroup reaffirmed a “market outperform” rating on shares of Four Corners Property Trust in a report on Monday, June 1st. UBS Group reiterated 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. Weiss Ratings lowered shares of Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Huntington began coverage on shares of Four Corners Property Trust in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 target price for the company. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Four Corners Property Trust presently has an average rating of “Moderate Buy” and an average price target of $27.78.

About Four Corners Property Trust

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.