Four Corners Property Trust, Inc. $FCPT Position Lifted by Edgestream Partners L.P.

Edgestream Partners L.P. grew its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 36.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,870 shares of the financial services provider’s stock after acquiring an additional 49,267 shares during the period. Edgestream Partners L.P.’s holdings in Four Corners Property Trust were worth $4,325,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of FCPT. Parallel Advisors LLC raised its stake in shares of Four Corners Property Trust by 80.1% in the 3rd quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 463 shares in the last quarter. Lazard Asset Management LLC grew its stake in Four Corners Property Trust by 1.1% in the second quarter. Lazard Asset Management LLC now owns 54,519 shares of the financial services provider’s stock worth $1,467,000 after purchasing an additional 568 shares in the last quarter. Strs Ohio grew its stake in Four Corners Property Trust by 3.3% in the fourth quarter. Strs Ohio now owns 18,700 shares of the financial services provider’s stock worth $431,000 after purchasing an additional 600 shares in the last quarter. California State Teachers Retirement System increased its holdings in Four Corners Property Trust by 0.7% in the second quarter. California State Teachers Retirement System now owns 94,900 shares of the financial services provider’s stock valued at $2,554,000 after buying an additional 647 shares during the last quarter. Finally, Palisades Investment Partners LLC increased its holdings in Four Corners Property Trust by 2.1% in the fourth quarter. Palisades Investment Partners LLC now owns 31,879 shares of the financial services provider’s stock valued at $747,000 after buying an additional 653 shares during the last quarter. Institutional investors own 98.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. UBS Group restated a “buy” rating and set a $30.00 price objective on shares of Four Corners Property Trust in a research note on Thursday, July 9th. Weiss Ratings upgraded Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 26th. BMO Capital Markets began coverage on 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. Huntington started coverage on Four Corners Property Trust in a research report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 price target on the stock. Finally, Citigroup restated a “market outperform” rating on shares of Four Corners Property Trust in a research note on Monday, June 1st. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.78.

Four Corners Property Trust Price Performance

Shares of NYSE:FCPT opened at $25.60 on Friday. The company has a market cap of $2.81 billion, a PE ratio of 23.06 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 $26.86. The firm has a 50-day simple moving average of $25.16 and a 200 day simple moving average of $24.98. The company has a quick ratio of 0.15, a current ratio of 0.14 and a debt-to-equity ratio of 0.39.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.14). Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.The business had revenue of $78.17 million during the quarter, compared to the consensus estimate of $73.34 million. During the same period in the prior year, the business earned $0.44 EPS. The business’s revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts anticipate that Four Corners Property Trust, Inc. will post 1.76 EPS for the current year.

Four Corners Property Trust Announces Dividend

The business also recently declared 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. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Wednesday, September 30th. Four Corners Property Trust’s dividend payout ratio is presently 132.43%.

Insider Buying and Selling at Four Corners Property Trust

In related news, CEO William H. Lenehan purchased 3,961 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were acquired at an average cost of $25.23 per share, for a total transaction of $99,936.03. Following the transaction, the chief executive officer owned 775,696 shares of the company’s stock, valued at $19,570,810.08. This trade represents a 0.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

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.