Four Corners Property Trust, Inc. $FCPT Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund cut its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 28.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,811 shares of the financial services provider’s stock after selling 20,063 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Four Corners Property Trust were worth $1,202,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Lasalle Investment Management Securities LLC acquired a new stake in shares of Four Corners Property Trust in the fourth quarter valued at approximately $32,889,000. B&I Capital AG increased its stake in shares of Four Corners Property Trust by 19.7% during the 4th quarter. B&I Capital AG now owns 321,787 shares of the financial services provider’s stock worth $7,420,000 after purchasing an additional 53,000 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Four Corners Property Trust by 20,354.6% during 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 purchasing an additional 4,593,018 shares during the last quarter. Legal & General Group Plc raised its position in shares of Four Corners Property Trust by 21.5% during the 4th quarter. Legal & General Group Plc now owns 732,656 shares of the financial services provider’s stock worth $16,895,000 after purchasing an additional 129,610 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Four Corners Property Trust by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 2,852,968 shares of the financial services provider’s stock valued at $65,800,000 after buying an additional 110,791 shares in the last quarter. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Four Corners Property Trust Stock Performance

Shares of FCPT opened at $25.60 on Friday. Four Corners Property Trust, Inc. has a 1 year low of $22.78 and a 1 year high of $26.86. The company’s 50 day simple moving average is $25.16 and its 200 day simple moving average is $24.98. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 23.06 and a beta of 0.80. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.15 and a current ratio of 0.14.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Wednesday, April 29th. The financial services provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.14). The firm had revenue of $78.17 million during the quarter, compared to analysts’ expectations of $73.34 million. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.The firm’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 earnings per share. On average, sell-side analysts predict that Four Corners Property Trust, Inc. will post 1.76 EPS for the current year.

Four Corners Property Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.1222 per share. The ex-dividend date is Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 5.7%. Four Corners Property Trust’s dividend payout ratio (DPR) is 132.43%.

Insider Activity

In other Four Corners Property Trust news, CEO William H. Lenehan acquired 3,961 shares of the stock in a transaction dated Tuesday, May 5th. The stock was acquired at an average price of $25.23 per share, with a total value of $99,936.03. Following the completion of the transaction, the chief executive officer directly owned 775,696 shares in the company, valued at approximately $19,570,810.08. This trade represents a 0.51% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on FCPT. UBS Group reiterated a “buy” rating and set a $30.00 target price on shares of Four Corners Property Trust in a report on Thursday, July 9th. Citigroup restated a “market outperform” rating on shares of Four Corners Property Trust in a research report on Monday, June 1st. Weiss Ratings upgraded Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 26th. BMO Capital Markets started 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 dropped their price objective on Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.78.

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.