29,500 Shares in Four Corners Property Trust, Inc. $FCPT Purchased by Pensionfund PDN

Pensionfund PDN purchased a new position in Four Corners Property Trust, Inc. (NYSE:FCPT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 29,500 shares of the financial services provider’s stock, valued at approximately $680,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its holdings in shares of Four Corners Property Trust by 80.1% during the 3rd quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 463 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in Four Corners Property Trust in the second quarter valued at approximately $37,000. Aster Capital Management DIFC Ltd grew its holdings in Four Corners Property Trust by 1,632.6% in the third quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 1,551 shares during the period. CIBC Private Wealth Group LLC increased its position in Four Corners Property Trust by 136.8% during the third quarter. CIBC Private Wealth Group LLC now owns 2,718 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 1,570 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in Four Corners Property Trust by 376.4% during the third quarter. Versant Capital Management Inc now owns 3,592 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 2,838 shares during the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Insider Buying and Selling at Four Corners Property Trust

In other news, CEO William H. Lenehan bought 7,865 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was acquired at an average cost of $25.49 per share, for a total transaction of $200,478.85. Following the completion of the purchase, the chief executive officer owned 765,845 shares of the company’s stock, valued at $19,521,389.05. This trade represents a 1.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.

Four Corners Property Trust Price Performance

FCPT stock opened at $24.18 on Tuesday. The firm has a market cap of $2.65 billion, a P/E ratio of 21.98 and a beta of 0.82. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.13 and a current ratio of 0.13. Four Corners Property Trust, Inc. has a 1 year low of $22.78 and a 1 year high of $28.98. The stock has a 50-day simple moving average of $25.02 and a 200-day simple moving average of $24.40.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. The firm had revenue of $75.67 million for the quarter, compared to analyst estimates of $76.04 million. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.20%.Four Corners Property Trust’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 EPS. On average, equities analysts predict that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.3665 per share. This represents a $1.47 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Four Corners Property Trust’s payout ratio is presently 132.73%.

Analyst Upgrades and Downgrades

FCPT has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Four Corners Property Trust in a report on Friday, January 9th. Evercore dropped their price objective on Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating for the company in a report on Monday, December 15th. Citigroup reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research report on Monday, January 5th. Raymond James Financial reduced their target price on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a report on Tuesday, March 17th. Finally, Wells Fargo & Company lowered their price target on Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 25th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $27.83.

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.