Legal & General Group Plc Takes Position in Four Corners Property Trust, Inc. $FCPT

Legal & General Group Plc purchased a new stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 650,103 shares of the financial services provider’s stock, valued at approximately $15,960,000.

Several other large investors have also recently added to or reduced their stakes in FCPT. Deutsche Bank AG bought a new position in shares of Four Corners Property Trust in the 2nd quarter worth about $15,215,000. Lasalle Investment Management Securities LLC acquired a new position in shares of Four Corners Property Trust in the 4th quarter valued at about $32,889,000. Northwestern Mutual Wealth Management Co. grew its position in shares of 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 valued at $106,435,000 after buying an additional 4,593,018 shares during the last quarter. Bank of America Corp DE grew its position in shares of Four Corners Property Trust by 7.9% during the 1st quarter. Bank of America Corp DE now owns 1,317,179 shares of the financial services provider’s stock valued at $31,151,000 after buying an additional 96,689 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in 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 acquiring an additional 110,791 shares during the period. 98.66% of the stock is currently owned by institutional investors.

Four Corners Property Trust Trading Up 0.2%

Four Corners Property Trust stock opened at $25.29 on Monday. Four Corners Property Trust, Inc. has a 52-week low of $22.78 and a 52-week high of $26.86. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 22.78 and a beta of 0.79. The firm has a 50-day moving average price of $25.32 and a two-hundred day moving average price of $25.06.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.29 by $0.16. The company had revenue of $78.42 million for the quarter, compared to analyst estimates of $79.02 million. Four Corners Property Trust had a net margin of 38.70% and a return on equity of 7.35%. Four Corners Property Trust’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 earnings per share. Sell-side analysts expect that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.1222 dividend. 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 dividend payout ratio (DPR) is currently 132.43%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FCPT. Citigroup reissued a “market outperform” rating on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Citizens Jmp reiterated a “market outperform” rating and set a $28.00 price target on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Wells Fargo & Company raised their price target on Four Corners Property Trust from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Barclays reduced their price objective on Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Finally, Jefferies Financial Group set a $28.00 target price on Four Corners Property Trust in a research report on Tuesday, August 25th. 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $27.80.

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.