Four Corners Property Trust, Inc. $FCPT Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC lifted its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 7.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 277,163 shares of the financial services provider’s stock after acquiring an additional 20,149 shares during the period. ProShare Advisors LLC owned 0.26% of Four Corners Property Trust worth $6,391,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Parallel Advisors LLC raised its position in shares of 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 acquiring an additional 463 shares in the last quarter. Arizona State Retirement System raised its position in shares of Four Corners Property Trust by 1.9% during the 3rd quarter. Arizona State Retirement System now owns 29,730 shares of the financial services provider’s stock worth $725,000 after acquiring an additional 554 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Four Corners Property Trust by 1.1% during the 2nd quarter. Lazard Asset Management LLC now owns 54,519 shares of the financial services provider’s stock worth $1,467,000 after acquiring an additional 568 shares in the last quarter. Strs Ohio raised its position in shares of Four Corners Property Trust by 3.3% during the 4th quarter. Strs Ohio now owns 18,700 shares of the financial services provider’s stock worth $431,000 after acquiring an additional 600 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Four Corners Property Trust by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 94,900 shares of the financial services provider’s stock worth $2,554,000 after acquiring an additional 647 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Insider Buying and Selling at Four Corners Property Trust

In related news, CEO William H. Lenehan bought 7,865 shares of the stock in a transaction on Friday, March 6th. The shares were bought at an average cost of $25.49 per share, for a total transaction of $200,478.85. Following the purchase, the chief executive officer owned 765,845 shares of the company’s stock, valued at $19,521,389.05. This trade represents a 1.04% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

FCPT has been the topic of a number of research reports. Weiss Ratings upgraded Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. BMO Capital Markets initiated coverage on Four Corners Property Trust in a research note on Friday, April 17th. They set a “market perform” rating and a $27.00 price target on the stock. Citizens Jmp upgraded Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 price target on the stock in a research note on Wednesday, March 25th. Raymond James Financial dropped their price target on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 17th. Finally, Barclays raised their price target on Four Corners Property Trust from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $28.00.

Four Corners Property Trust Trading Up 0.3%

NYSE:FCPT opened at $25.06 on Friday. The stock’s 50 day moving average price is $24.82 and its 200 day moving average price is $24.44. The company has a market capitalization of $2.75 billion, a PE ratio of 22.38 and a beta of 0.83. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.35. Four Corners Property Trust, Inc. has a 52-week low of $22.78 and a 52-week high of $28.11.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly 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 7.38% and a net margin of 38.74%.The firm had revenue of $78.17 million for the quarter, compared to analysts’ expectations of $73.34 million. During the same quarter in the prior year, the business earned $0.44 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, research analysts anticipate that Four Corners Property Trust, Inc. will post 1.75 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a $0.3665 dividend. This represents a $1.47 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Tuesday, March 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is 131.25%.

About Four Corners Property Trust

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.