Lasalle Investment Management Securities LLC Purchases 1,139,493 Shares of Four Corners Property Trust, Inc. $FCPT

Lasalle Investment Management Securities LLC increased its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 79.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,565,734 shares of the financial services provider’s stock after acquiring an additional 1,139,493 shares during the period. Four Corners Property Trust comprises approximately 2.4% of Lasalle Investment Management Securities LLC’s holdings, making the stock its 16th largest position. Lasalle Investment Management Securities LLC’s holdings in Four Corners Property Trust were worth $60,680,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in FCPT. B&I Capital AG increased its holdings in shares of Four Corners Property Trust by 19.7% in 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. lifted its holdings in shares of Four Corners Property Trust by 20,354.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,615,583 shares of the financial services provider’s stock valued at $106,435,000 after purchasing an additional 4,593,018 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Four Corners Property Trust by 21.5% during the fourth quarter. Legal & General Group Plc now owns 732,656 shares of the financial services provider’s stock valued at $16,895,000 after purchasing an additional 129,610 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Four Corners Property Trust by 4.0% during the fourth 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 during the last quarter. Finally, UBS Group AG boosted its position in shares of Four Corners Property Trust by 37.5% during the fourth quarter. UBS Group AG now owns 179,900 shares of the financial services provider’s stock valued at $4,148,000 after buying an additional 49,060 shares during the last quarter. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Four Corners Property Trust

In other news, CEO William H. Lenehan bought 3,961 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were acquired at an average cost of $25.23 per share, with a total value of $99,936.03. Following the completion of the transaction, the chief executive officer owned 775,696 shares of the company’s stock, valued at approximately $19,570,810.08. This trade represents a 0.51% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

Four Corners Property Trust Price Performance

NYSE FCPT opened at $26.32 on Thursday. The business’s fifty day moving average price is $25.01 and its 200-day moving average price is $24.88. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 23.50 and a beta of 0.80. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.15 and a quick ratio of 0.15. Four Corners Property Trust, Inc. has a 1-year low of $22.78 and a 1-year high of $26.96.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.14). Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.The firm had revenue of $78.17 million during the quarter, compared to analysts’ expectations of $73.34 million. During the same quarter last year, the business earned $0.44 earnings per share. The business’s quarterly revenue was up 9.4% on a year-over-year basis. On average, equities analysts predict that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently announced 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 of this dividend is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 5.6%. Four Corners Property Trust’s dividend payout ratio is currently 131.25%.

Analysts Set New Price Targets

Several equities research analysts recently commented on FCPT shares. UBS Group reiterated a “buy” rating and issued a $30.00 price objective on shares of Four Corners Property Trust in a report on Thursday, July 9th. Weiss Ratings upgraded shares of Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. Citizens Jmp raised shares of Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 price target on the stock in a report on Wednesday, March 25th. Citigroup reiterated a “market outperform” rating on shares of Four Corners Property Trust in a research note on Monday, June 1st. Finally, Wells Fargo & Company boosted their price objective on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Four Corners Property Trust has an average rating of “Moderate Buy” and an average target price of $27.78.

Four Corners Property Trust Company 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.