Four Corners Property Trust, Inc. $FCPT Stock Holdings Increased by ProShare Advisors LLC

ProShare Advisors LLC boosted its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 36.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 389,225 shares of the financial services provider’s stock after purchasing an additional 104,889 shares during the period. ProShare Advisors LLC owned approximately 0.35% of Four Corners Property Trust worth $8,470,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of FCPT. BlackRock Inc. purchased a new position in shares of Four Corners Property Trust in the second quarter worth $490,406,000. Lasalle Investment Management Securities LLC grew its holdings in shares of Four Corners Property Trust by 79.9% during the first quarter. Lasalle Investment Management Securities LLC now owns 2,565,734 shares of the financial services provider’s stock valued at $60,680,000 after buying an additional 1,139,493 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Four Corners Property Trust by 75.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,345,427 shares of the financial services provider’s stock valued at $55,469,000 after buying an additional 1,010,648 shares during the last quarter. Callodine Capital Management LP increased its position 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 valued at $37,027,000 after acquiring an additional 256,325 shares during the period. Finally, Dimensional Fund Advisors LP increased its position 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 valued at $35,100,000 after acquiring an additional 16,891 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.

Analyst Upgrades and Downgrades

FCPT has been the subject of a number of research analyst reports. Citizens Jmp reduced their target price on Four Corners Property Trust from $28.00 to $26.00 and set a “market outperform” rating for the company in a research note on Monday. Royal Bank Of Canada set a $26.00 target price on shares of Four Corners Property Trust in a research report on Monday. Wells Fargo & Company reduced their price objective on Four Corners Property Trust from $26.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, October 19th. Citigroup reissued a “market outperform” rating on shares of Four Corners Property Trust in a report on Monday. Finally, UBS Group restated a “buy” rating and issued a $30.00 target price on shares of Four Corners Property Trust in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $26.45.

Four Corners Property Trust Price Performance

Shares of NYSE FCPT opened at $23.71 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 21.75 and a beta of 0.77. The firm’s 50 day simple moving average is $22.76 and its 200-day simple moving average is $24.46. Four Corners Property Trust, Inc. has a 12 month low of $20.85 and a 12 month high of $26.86.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, October 28th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.03). The firm had revenue of $83.68 million during the quarter, compared to analyst estimates of $82.44 million. Four Corners Property Trust had a net margin of 37.53% and a return on equity of 7.24%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 earnings per share. 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 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 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend is Thursday, December 31st. Four Corners Property Trust’s dividend payout ratio is presently 138.53%.

Insider Activity at Four Corners Property Trust

In other Four Corners Property Trust news, CEO William Lenehan bought 10,000 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were purchased at an average cost of $22.61 per share, for a total transaction of $226,100.00. Following the transaction, the chief executive officer directly owned 789,857 shares of the company’s stock, valued at approximately $17,858,666.77. The trade was a 1.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by company insiders.

Four Corners Property Trust Company Profile

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.