ProShare Advisors LLC Increases Stock Holdings in Four Corners Property Trust, Inc. $FCPT

ProShare Advisors LLC raised its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 7.8% during the 4th quarter, HoldingsChannel reports. The firm owned 277,163 shares of the financial services provider’s stock after acquiring an additional 20,149 shares during the period. ProShare Advisors LLC’s holdings in Four Corners Property Trust were worth $6,391,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. AQR Capital Management LLC increased its position in Four Corners Property Trust by 20.3% during the 1st quarter. AQR Capital Management LLC now owns 34,273 shares of the financial services provider’s stock worth $984,000 after purchasing an additional 5,786 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Four Corners Property Trust by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,416 shares of the financial services provider’s stock valued at $1,648,000 after buying an additional 2,508 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Four Corners Property Trust by 13.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 681,843 shares of the financial services provider’s stock valued at $19,569,000 after buying an additional 79,023 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Four Corners Property Trust in the first quarter valued at approximately $2,627,000. Finally, American Century Companies Inc. boosted its stake in shares of Four Corners Property Trust by 34.3% in the second quarter. American Century Companies Inc. now owns 37,054 shares of the financial services provider’s stock valued at $997,000 after buying an additional 9,460 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 Up 0.3%

FCPT opened at $25.06 on Friday. The business’s fifty day moving average is $24.82 and its two-hundred day moving average is $24.44. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.15 and a current ratio of 0.15. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 22.38 and a beta of 0.83. Four Corners Property Trust, Inc. has a one year low of $22.78 and a one year high of $28.11.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, April 29th. The financial services provider reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.14). The firm had revenue of $78.17 million for the quarter, compared to analysts’ expectations of $73.34 million. Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 earnings per share. Analysts anticipate that Four Corners Property Trust, Inc. will post 1.75 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a dividend of $0.3665 per share. This represents a $1.47 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Tuesday, March 31st. Four Corners Property Trust’s payout ratio is presently 131.25%.

Analysts Set New Price Targets

A number of research firms recently weighed in on FCPT. Citizens Jmp upgraded 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 research note on Wednesday, March 25th. Weiss Ratings upgraded Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. Raymond James Financial decreased their price target on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 17th. BMO Capital Markets began coverage on Four Corners Property Trust in a research note on Friday, April 17th. They issued a “market perform” rating and a $27.00 price target on the stock. Finally, Barclays lifted their price target on Four Corners Property Trust from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $28.00.

Insider Buying and Selling

In other news, CEO William H. Lenehan bought 3,961 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were bought at an average cost of $25.23 per share, for a total transaction of $99,936.03. Following the completion of the transaction, the chief executive officer owned 775,696 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

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.