Healthcare of Ontario Pension Plan Trust Fund Cuts Stock Position in Four Corners Property Trust, Inc. $FCPT

Healthcare of Ontario Pension Plan Trust Fund cut its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 28.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,811 shares of the financial services provider’s stock after selling 20,063 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Four Corners Property Trust were worth $1,202,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FCPT. Parallel Advisors LLC raised its position in Four Corners Property Trust by 80.1% during the 3rd quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock worth $25,000 after buying an additional 463 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Four Corners Property Trust by 829.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,115 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 995 shares during the period. First Horizon Corp boosted its holdings in shares of Four Corners Property Trust by 147.4% in the fourth quarter. First Horizon Corp now owns 1,190 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 709 shares in the last quarter. Huntington National Bank boosted its holdings in shares of Four Corners Property Trust by 114.1% in the fourth quarter. Huntington National Bank now owns 1,569 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 836 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Four Corners Property Trust during the fourth quarter worth about $36,000. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on FCPT. UBS Group reissued a “buy” rating and set a $30.00 price target on shares of Four Corners Property Trust in a report on Thursday, July 9th. Wells Fargo & Company boosted their target price on Four Corners Property Trust from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Huntington assumed 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 for the company. Barclays cut their target price on Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 22nd. Finally, Citigroup reissued a “market outperform” rating on shares of Four Corners Property Trust in a report on Monday, June 1st. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Four Corners Property Trust has a consensus rating of “Moderate Buy” and a consensus price target of $27.78.

Insider Activity

In related news, CEO William H. Lenehan purchased 3,961 shares of Four Corners Property Trust stock in a transaction dated Tuesday, May 5th. The stock was bought 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 in the company, valued at approximately $19,570,810.08. The trade was a 0.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.20% of the company’s stock.

Four Corners Property Trust Stock Performance

Shares of FCPT opened at $25.60 on Friday. The company 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. The company has a market capitalization of $2.81 billion, a PE ratio of 23.06 and a beta of 0.80. Four Corners Property Trust, Inc. has a 52-week low of $22.78 and a 52-week high of $26.86.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.14). The company had revenue of $78.17 million during the quarter, compared to analyst estimates of $73.34 million. Four Corners Property Trust had a net margin of 38.70% and a return on equity of 7.35%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $0.44 EPS. Equities research analysts predict that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.1222 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 5.7%. Four Corners Property Trust’s dividend payout ratio (DPR) is 132.43%.

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.