36,800 Shares in Four Corners Property Trust, Inc. $FCPT Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new position in Four Corners Property Trust, Inc. (NYSE:FCPT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 36,800 shares of the financial services provider’s stock, valued at approximately $903,000.

Other hedge funds also recently bought and sold shares of the company. Legal & General Group Plc bought a new stake in Four Corners Property Trust during the 2nd quarter valued at $15,960,000. The Manufacturers Life Insurance Company bought a new position in shares of Four Corners Property Trust in the 2nd quarter worth $1,330,000. Manning & Napier Advisors LLC bought a new position in shares of Four Corners Property Trust in the 2nd quarter worth $9,807,000. Sanctuary Advisors LLC purchased a new stake in shares of Four Corners Property Trust during the 2nd quarter worth $400,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Four Corners Property Trust during the 2nd quarter worth $5,210,000. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Stock Performance

Shares of FCPT stock opened at $24.87 on Tuesday. The business’s fifty day simple moving average is $25.33 and its 200-day simple moving average is $25.05. The company has a market cap of $2.73 billion, a PE ratio of 22.41 and a beta of 0.79. 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 (NYSE:FCPT) last posted its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates 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%.The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. Analysts expect that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

The firm also recently declared 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 is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 5.9%. Four Corners Property Trust’s dividend payout ratio (DPR) is 132.43%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FCPT shares. Citizens Jmp reaffirmed a “market outperform” rating and set a $28.00 price objective on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Huntington began coverage on shares of Four Corners Property Trust in a report on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 target price for the company. Citigroup reissued a “market outperform” rating on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Barclays lowered their price target on shares of Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 22nd. Finally, Weiss Ratings downgraded shares of Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Five 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 an average rating of “Moderate Buy” and an average target price of $27.80.

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.