Westport Asset Management Inc. Purchases Shares of 19,998 Four Corners Property Trust, Inc. $FCPT

Westport Asset Management Inc. purchased a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 19,998 shares of the financial services provider’s stock, valued at approximately $491,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of FCPT. BlackRock Inc. purchased a new stake in Four Corners Property Trust during the second quarter valued at approximately $490,406,000. Vanguard Group Inc. boosted its stake in Four Corners Property Trust by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 12,057,364 shares of the financial services provider’s stock valued at $278,043,000 after acquiring an additional 344,852 shares in the last quarter. State Street Corp grew its holdings in Four Corners Property Trust by 2.7% in the fourth quarter. State Street Corp now owns 6,001,247 shares of the financial services provider’s stock worth $140,547,000 after purchasing an additional 155,966 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Four Corners Property Trust by 20,354.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,615,583 shares of the financial services provider’s stock worth $106,435,000 after purchasing an additional 4,593,018 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Four Corners Property Trust by 8.9% during the fourth quarter. Victory Capital Management Inc. now owns 4,251,112 shares of the financial services provider’s stock worth $98,031,000 after purchasing an additional 349,048 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Stock Up 1.3%

Shares of FCPT stock opened at $25.22 on Thursday. The stock has a 50 day moving average of $25.24 and a 200 day moving average of $25.04. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.39. The stock has a market cap of $2.77 billion, a P/E ratio of 22.72 and a beta of 0.79. Four Corners Property Trust, Inc. has a twelve month low of $22.78 and a twelve month high of $26.86.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.29 by $0.16. The company had revenue of $78.42 million for the quarter, compared to analyst estimates of $79.02 million. Four Corners Property Trust had a net margin of 38.70% and a return on equity of 7.35%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business earned $0.44 earnings per share. As a group, sell-side analysts expect that Four Corners Property Trust, Inc. will post 1.76 EPS for the current year.

Four Corners Property Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.1222 per share. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Four Corners Property Trust’s dividend payout ratio is presently 132.43%.

Analyst Upgrades and Downgrades

FCPT has been the subject of several analyst reports. Citigroup reiterated a “market outperform” rating on shares of Four Corners Property Trust in a report on Monday, June 1st. Huntington started coverage on Four Corners Property Trust in a research note on Wednesday, July 15th. They set an “outperform” rating and a $27.00 target price on the stock. Weiss Ratings lowered Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. UBS Group reissued a “buy” rating and issued a $30.00 price target on shares of Four Corners Property Trust in a report on Thursday, July 9th. Finally, Wells Fargo & Company boosted their price objective on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.78.

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.