Four Corners Property Trust, Inc. $FCPT Shares Newly Purchased by Isthmus Partners LLC

Isthmus Partners LLC bought a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 102,004 shares of the financial services provider’s stock, valued at approximately $2,220,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Four Corners Property Trust during the 2nd quarter worth approximately $490,406,000. Lasalle Investment Management Securities LLC grew its holdings in shares of Four Corners Property Trust by 79.9% in the 1st quarter. Lasalle Investment Management Securities LLC now owns 2,565,734 shares of the financial services provider’s stock worth $60,680,000 after acquiring an additional 1,139,493 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Four Corners Property Trust by 75.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,345,427 shares of the financial services provider’s stock worth $55,469,000 after acquiring an additional 1,010,648 shares during the period. Callodine Capital Management LP grew its holdings in shares of Four Corners Property Trust by 19.6% in the 1st quarter. Callodine Capital Management LP now owns 1,565,607 shares of the financial services provider’s stock worth $37,027,000 after acquiring an additional 256,325 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Four Corners Property Trust by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,484,092 shares of the financial services provider’s stock worth $35,100,000 after acquiring an additional 16,891 shares during the period. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Performance

NYSE:FCPT opened at $22.08 on Friday. 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 firm has a 50-day moving average price of $23.23 and a two-hundred day moving average price of $24.43. Four Corners Property Trust, Inc. has a twelve month low of $20.85 and a twelve month high of $26.86. The company has a market capitalization of $2.42 billion, a P/E ratio of 11.77 and a beta of 0.80.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.16. Four Corners Property Trust had a net margin of 38.70% and a return on equity of 7.35%. The company had revenue of $78.42 million during the quarter, compared to analysts’ expectations of $79.02 million. During the same quarter in the previous year, the business posted $0.44 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, research analysts expect 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 firm also recently disclosed a monthly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be paid a dividend of $0.1265 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend is Thursday, December 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is 132.43%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on FCPT shares. Citigroup reaffirmed a “market outperform” rating on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. Weiss Ratings downgraded Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Wells Fargo & Company decreased their target price on Four Corners Property Trust from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday. Citizens Jmp reissued a “market outperform” rating and issued a $28.00 target price on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Finally, Jefferies Financial Group set a $28.00 price target on Four Corners Property Trust in a research report on Tuesday, August 25th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $26.91.

About Four Corners Property Trust

Four Corners Property Trust, Inc is a real estate investment trust (REIT) that owns and manages a portfolio of primarily restaurant and retail properties in the United States. The company generally leases its properties to operators under long-term, net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

FCPT’s portfolio is concentrated in restaurant locations but also includes properties leased to tenants in other retail and service-oriented industries.