Northwestern Mutual Wealth Management Co. Purchases 4,593,018 Shares of Four Corners Property Trust, Inc. $FCPT

Northwestern Mutual Wealth Management Co. grew its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 20,354.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,615,583 shares of the financial services provider’s stock after buying an additional 4,593,018 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Four Corners Property Trust were worth $106,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC boosted its stake in shares of Four Corners Property Trust by 80.1% in the 3rd quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 463 shares during the last quarter. Arizona State Retirement System boosted 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. Lazard Asset Management LLC boosted its stake 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 valued at $1,467,000 after purchasing an additional 568 shares during the last quarter. Strs Ohio boosted its stake in shares of Four Corners Property Trust by 3.3% in the 4th quarter. Strs Ohio now owns 18,700 shares of the financial services provider’s stock valued at $431,000 after purchasing an additional 600 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of Four Corners Property Trust by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 94,900 shares of the financial services provider’s stock valued at $2,554,000 after purchasing an additional 647 shares during the last quarter. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Stock Down 0.2%

Shares of NYSE FCPT opened at $24.48 on Friday. The firm has a market cap of $2.69 billion, a PE ratio of 21.86 and a beta of 0.83. Four Corners Property Trust, Inc. has a 12-month low of $22.78 and a 12-month high of $28.11. The company’s fifty day simple moving average is $24.89 and its 200 day simple moving average is $24.40. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.35.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.28 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $78.17 million for the quarter, compared to analyst estimates of $73.34 million. During the same quarter in the previous year, the company posted $0.44 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts forecast that Four Corners Property Trust, Inc. will post 1.75 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.3665 per share. The ex-dividend date was Tuesday, March 31st. This represents a $1.47 annualized dividend and a yield of 6.0%. Four Corners Property Trust’s dividend payout ratio is presently 131.25%.

Insiders Place Their Bets

In other Four Corners Property Trust news, CEO William H. Lenehan acquired 7,865 shares of the stock in a transaction on Friday, March 6th. The shares were purchased at an average price of $25.49 per share, for a total transaction of $200,478.85. Following the completion of the acquisition, the chief executive officer owned 765,845 shares in the company, valued at approximately $19,521,389.05. This represents a 1.04% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Barclays upped their price objective on shares of 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. Citizens Jmp raised shares of Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 price objective on the stock in a research note on Wednesday, March 25th. Raymond James Financial reduced their price objective on shares of 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 assumed coverage on shares of Four Corners Property Trust in a research note on Friday, April 17th. They issued a “market perform” rating and a $27.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Wednesday, April 8th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Four Corners Property Trust 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.