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

Legal & General Group Plc increased its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 21.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 732,656 shares of the financial services provider’s stock after buying an additional 129,610 shares during the quarter. Legal & General Group Plc’s holdings in Four Corners Property Trust were worth $16,895,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parallel Advisors LLC boosted its stake in shares of Four Corners Property Trust by 80.1% in the third 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 during the period. Farther Finance Advisors LLC boosted its stake in shares of Four Corners Property Trust by 829.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,115 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 995 shares during the period. First Horizon Corp boosted its stake 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 purchasing an additional 709 shares during the period. Aster Capital Management DIFC Ltd boosted its stake in shares of Four Corners Property Trust by 1,632.6% in the third quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 1,551 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Four Corners Property Trust by 136.8% in the third quarter. CIBC Private Wealth Group LLC now owns 2,718 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 1,570 shares during the period. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FCPT. BMO Capital Markets began coverage on shares of Four Corners Property Trust in a research note on Friday, April 17th. They issued a “market perform” rating and a $27.00 target price for the company. Wells Fargo & Company upped their target price on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Monday. Barclays upped their target price on shares of Four Corners Property Trust from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 21st. Citizens Jmp raised shares of 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 report on Wednesday, March 25th. Finally, Raymond James Financial cut their price target on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a report on Tuesday, March 17th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Four Corners Property Trust presently has an average rating of “Hold” and an average price target of $28.13.

Insider Buying and Selling at Four Corners Property Trust

In other Four Corners Property Trust news, CEO William H. Lenehan bought 3,961 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were bought at an average cost of $25.23 per share, with a total value of $99,936.03. Following the completion of the acquisition, the chief executive officer owned 775,696 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

Four Corners Property Trust Trading Down 2.5%

FCPT opened at $24.29 on Tuesday. The stock has a market capitalization of $2.67 billion, a PE ratio of 21.69 and a beta of 0.83. The firm’s fifty day moving average price is $24.75 and its 200 day moving average price is $24.48. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.15 and a quick ratio of 0.15. Four Corners Property Trust, Inc. has a 12-month low of $22.78 and a 12-month high of $28.11.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.28 earnings per share (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 38.74% and a return on equity of 7.38%. The company’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 earnings per share. As a group, research analysts expect that Four Corners Property Trust, Inc. will post 1.75 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.3665 per share. This represents a $1.47 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend was Tuesday, March 31st. Four Corners Property Trust’s dividend payout ratio is 130.36%.

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.