34,266 Shares in Four Corners Property Trust, Inc. $FCPT Purchased by Quantbot Technologies LP

Quantbot Technologies LP purchased a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 34,266 shares of the financial services provider’s stock, valued at approximately $841,000.

Several other large investors have also recently bought and sold shares of the stock. Deutsche Bank AG acquired a new stake in Four Corners Property Trust during the 2nd quarter worth approximately $15,215,000. Lasalle Investment Management Securities LLC acquired a new position in Four Corners Property Trust in the 4th quarter valued at $32,889,000. Northwestern Mutual Wealth Management Co. increased its position in Four Corners Property Trust by 20,354.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,615,583 shares of the financial services provider’s stock worth $106,435,000 after buying an additional 4,593,018 shares during the period. Legal & General Group Plc increased its position in Four Corners Property Trust by 21.5% during the 4th quarter. Legal & General Group Plc now owns 732,656 shares of the financial services provider’s stock worth $16,895,000 after buying an additional 129,610 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Four Corners Property Trust by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 2,852,968 shares of the financial services provider’s stock worth $65,800,000 after buying an additional 110,791 shares in the last quarter. 98.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FCPT has been the topic of several research reports. Citizens Jmp restated a “market outperform” rating and issued a $28.00 price target on shares of Four Corners Property Trust in a research note on Tuesday. Jefferies Financial Group set a $28.00 target price on shares of Four Corners Property Trust in a report on Tuesday. Wells Fargo & Company boosted their price target on Four Corners Property Trust from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Citigroup restated a “market outperform” rating on shares of Four Corners Property Trust in a research note on Tuesday. Finally, Huntington initiated coverage on Four Corners Property Trust in a research report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 target price for the company. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Four Corners Property Trust currently has an average rating of “Moderate Buy” and a consensus price target of $27.80.

Four Corners Property Trust Price Performance

FCPT stock opened at $25.33 on Thursday. The company’s 50-day moving average price is $25.29 and its two-hundred day moving average price is $25.06. The firm has a market cap of $2.78 billion, a P/E ratio of 22.82 and a beta of 0.79. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.39. Four Corners Property Trust, Inc. has a 12 month low of $22.78 and a 12 month high of $26.86.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.16. The company had revenue of $78.42 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 EPS. On average, analysts anticipate that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.1222 per share. This represents a c) annualized dividend and a yield of 5.8%. The ex-dividend date is Wednesday, September 30th. Four Corners Property Trust’s payout ratio is currently 131.53%.

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.