Corient Private Wealth LP Purchases Shares of 105,267 Four Corners Property Trust, Inc. $FCPT

Corient Private Wealth LP purchased a new position in Four Corners Property Trust, Inc. (NYSE:FCPT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 105,267 shares of the financial services provider’s stock, valued at approximately $2,584,000.

A number of other hedge funds have also recently modified their holdings of the company. Deutsche Bank AG bought a new stake in shares of Four Corners Property Trust in the second quarter worth about $15,215,000. Lasalle Investment Management Securities LLC bought a new position in Four Corners Property Trust during the 4th quarter valued at approximately $32,889,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Four Corners Property Trust by 20,354.6% in 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 buying an additional 4,593,018 shares during the period. Legal & General Group Plc grew its position in shares of Four Corners Property Trust by 21.5% in the 4th quarter. Legal & General Group Plc now owns 732,656 shares of the financial services provider’s stock worth $16,895,000 after buying an additional 129,610 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Four Corners Property Trust by 7.9% during the first quarter. Bank of America Corp DE now owns 1,317,179 shares of the financial services provider’s stock valued at $31,151,000 after buying an additional 96,689 shares during the period. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Stock Down 0.3%

FCPT stock opened at $24.76 on Thursday. Four Corners Property Trust, Inc. has a fifty-two week low of $22.78 and a fifty-two week high of $26.86. The business’s 50 day moving average price is $25.32 and its two-hundred day moving average price is $25.05. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.14 and a current ratio of 0.14. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 22.30 and a beta of 0.79.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Wednesday, July 29th. The financial services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.16. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.The company had revenue of $78.42 million during the quarter, compared to analysts’ expectations of $79.02 million. During the same quarter last year, the business posted $0.44 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts forecast that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued 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 is 132.43%.

Analyst Upgrades and Downgrades

FCPT has been the subject of a number of recent analyst reports. Citigroup restated a “market outperform” rating on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Huntington started coverage on shares of Four Corners Property Trust in a report on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 price target on the stock. 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. Barclays decreased their price objective on shares of Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Wednesday, July 22nd. Finally, UBS Group reaffirmed a “buy” rating and issued a $30.00 target price on shares of Four Corners Property Trust in a research report on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.