Earnest Partners LLC Decreases Holdings in Four Corners Property Trust, Inc. $FCPT

Earnest Partners LLC decreased its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,863,355 shares of the financial services provider’s stock after selling 121,000 shares during the period. Earnest Partners LLC’s holdings in Four Corners Property Trust were worth $69,866,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its stake in Four Corners Property Trust by 80.1% during the third quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 463 shares during the last quarter. Rye Brook Capital LLC lifted its stake in shares of Four Corners Property Trust by 0.4% in the 3rd quarter. Rye Brook Capital LLC now owns 123,100 shares of the financial services provider’s stock valued at $3,004,000 after purchasing an additional 500 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Four Corners Property Trust by 1.9% in the 3rd quarter. Arizona State Retirement System now owns 29,730 shares of the financial services provider’s stock valued at $725,000 after purchasing an additional 554 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Four Corners Property Trust by 3.1% in the 2nd quarter. Bank of Montreal Can now owns 18,912 shares of the financial services provider’s stock worth $509,000 after purchasing an additional 568 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in shares of Four Corners Property Trust by 1.1% in the 2nd quarter. Lazard Asset Management LLC now owns 54,519 shares of the financial services provider’s stock worth $1,467,000 after purchasing an additional 568 shares during the period. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Analyst Upgrades and Downgrades

FCPT has been the topic of several recent research reports. Evercore decreased their price target on Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating on the stock in a report on Monday, December 15th. Citigroup reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Monday, January 5th. Wells Fargo & Company cut their price objective 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. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Friday, January 9th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $28.00.

Insider Buying and Selling at Four Corners Property Trust

In other Four Corners Property Trust news, CEO William H. Lenehan bought 7,865 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was acquired at an average cost of $25.49 per share, for a total transaction of $200,478.85. Following the completion of the transaction, the chief executive officer owned 765,845 shares in the company, valued at $19,521,389.05. This trade represents a 1.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

Four Corners Property Trust Trading Down 0.6%

FCPT opened at $25.63 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.13 and a current ratio of 0.13. The stock’s 50 day moving average price is $24.85 and its 200-day moving average price is $24.43. Four Corners Property Trust, Inc. has a one year low of $22.78 and a one year high of $28.98. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 23.30 and a beta of 0.82.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.20%.The firm had revenue of $75.67 million during the quarter, compared to analyst estimates of $76.04 million. During the same period last year, the company earned $0.44 EPS. Four Corners Property Trust’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities analysts forecast that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.3665 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.47 dividend on an annualized basis and a yield of 5.7%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 133.64%.

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.