Vanguard Group Inc. Buys 237,155 Shares of Four Corners Property Trust, Inc. $FCPT

Vanguard Group Inc. raised its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,712,512 shares of the financial services provider’s stock after acquiring an additional 237,155 shares during the period. Vanguard Group Inc. owned approximately 0.11% of Four Corners Property Trust worth $285,785,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. State Street Corp increased its holdings in shares of Four Corners Property Trust by 2.0% in the second quarter. State Street Corp now owns 5,811,410 shares of the financial services provider’s stock worth $158,408,000 after purchasing an additional 116,711 shares during the last quarter. Geode Capital Management LLC grew its holdings in Four Corners Property Trust by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 2,671,928 shares of the financial services provider’s stock valued at $71,910,000 after buying an additional 68,415 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in Four Corners Property Trust by 23.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,159,994 shares of the financial services provider’s stock worth $58,125,000 after acquiring an additional 417,134 shares during the last quarter. Hudson Bay Capital Management LP increased its stake in Four Corners Property Trust by 42.9% in the 2nd quarter. Hudson Bay Capital Management LP now owns 1,443,164 shares of the financial services provider’s stock worth $38,836,000 after acquiring an additional 433,108 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Four Corners Property Trust by 6.8% during the 2nd quarter. Marshall Wace LLP now owns 1,105,522 shares of the financial services provider’s stock worth $29,750,000 after acquiring an additional 70,211 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Trading Down 0.2%

Shares of FCPT opened at $25.53 on Friday. Four Corners Property Trust, Inc. has a twelve month low of $22.78 and a twelve month high of $29.81. The company has a market cap of $2.80 billion, a P/E ratio of 23.21 and a beta of 0.83. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.36. The company’s fifty day simple moving average is $24.40 and its 200-day simple moving average is $24.44.

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 analysts’ consensus estimates of $0.43 by $0.02. Four Corners Property Trust had a net margin of 38.20% and a return on equity of 7.39%. The firm had revenue of $75.67 million during the quarter, compared to analysts’ expectations of $76.04 million. During the same period in the previous year, the company earned $0.44 EPS. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, analysts expect that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FCPT. Wells Fargo & Company reduced their price target on shares of Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Friday, January 9th. Evercore decreased their target price on shares of Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating on the stock in a research report on Monday, December 15th. Finally, Citigroup reiterated a “market perform” rating on shares of Four Corners Property Trust in a research report on Monday, January 5th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $28.00.

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.