Four Corners Property Trust, Inc. $FCPT Position Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 5.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,569,385 shares of the financial services provider’s stock after selling 93,876 shares during the period. Principal Financial Group Inc. owned 1.43% of Four Corners Property Trust worth $37,116,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FCPT. Parallel Advisors LLC lifted its holdings in Four Corners Property Trust by 80.1% during the 3rd quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock worth $25,000 after buying an additional 463 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Four Corners Property Trust by 829.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,115 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 995 shares in the last quarter. First Horizon Corp increased its holdings in shares of Four Corners Property Trust by 147.4% in the 4th quarter. First Horizon Corp now owns 1,190 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 709 shares during the last quarter. Huntington National Bank increased its holdings in shares of Four Corners Property Trust by 114.1% in the 4th quarter. Huntington National Bank now owns 1,569 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 836 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of Four Corners Property Trust in the 4th quarter valued at approximately $36,000. 98.66% of the stock is owned by institutional investors.

Four Corners Property Trust Trading Down 0.2%

Shares of NYSE:FCPT opened at $26.36 on Friday. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average price is $24.92 and its 200 day moving average price is $24.80. The company has a market cap of $2.89 billion, a PE ratio of 23.54 and a beta of 0.80. Four Corners Property Trust, Inc. has a fifty-two week low of $22.78 and a fifty-two week high of $26.96.

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 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 firm had revenue of $78.17 million during the quarter, compared to the consensus estimate of $73.34 million. During the same quarter last year, the company posted $0.44 EPS. Four Corners Property Trust’s revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts anticipate that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.1222 per share. The ex-dividend date is Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 5.6%. Four Corners Property Trust’s payout ratio is currently 131.25%.

Insider Activity

In other Four Corners Property Trust news, CEO William H. Lenehan acquired 3,961 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was acquired at an average cost of $25.23 per share, with a total value of $99,936.03. Following the acquisition, the chief executive officer directly owned 775,696 shares of the company’s stock, valued at $19,570,810.08. This represents a 0.51% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wells Fargo & Company raised their price objective on Four Corners Property Trust from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. UBS Group reiterated a “buy” rating and set a $30.00 target price on shares of Four Corners Property Trust in a research note on Thursday, July 9th. Citizens Jmp raised shares of Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 target price on the stock in a report on Wednesday, March 25th. Citigroup restated a “market outperform” rating on shares of Four Corners Property Trust in a research report on Monday, June 1st. Finally, BMO Capital Markets started coverage on shares of Four Corners Property Trust in a report on Friday, April 17th. They issued a “market perform” rating and a $27.00 price target for the company. Five 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.89.

About Four Corners Property Trust

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.