Pensionfund PDN Takes Position in Four Corners Property Trust, Inc. $FCPT

Pensionfund PDN bought a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 29,500 shares of the financial services provider’s stock, valued at approximately $680,000.

Other institutional investors have also modified their holdings of the company. Parallel Advisors LLC boosted its holdings in 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 last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Four Corners Property Trust during the 2nd quarter worth approximately $37,000. Aster Capital Management DIFC Ltd increased its holdings in Four Corners Property Trust by 1,632.6% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 1,551 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Four Corners Property Trust by 136.8% in the 3rd 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 in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Four Corners Property Trust by 376.4% in the 3rd quarter. Versant Capital Management Inc now owns 3,592 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 2,838 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Stock Down 0.4%

NYSE:FCPT opened at $24.18 on Tuesday. The firm has a market capitalization of $2.65 billion, a PE ratio of 21.98 and a beta of 0.82. The stock has a 50 day moving average of $25.02 and a 200-day moving average of $24.40. Four Corners Property Trust, Inc. has a 52 week low of $22.78 and a 52 week high of $28.98. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.36.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The business had revenue of $75.67 million for the quarter, compared to analysts’ expectations of $76.04 million. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.20%.The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS. Analysts predict that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a $0.3665 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.47 annualized dividend and a yield of 6.1%. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 132.73%.

Insider Transactions at Four Corners Property Trust

In related news, CEO William H. Lenehan bought 7,865 shares of the business’s 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 completion of the purchase, the chief executive officer owned 765,845 shares of the company’s stock, valued at $19,521,389.05. This represents a 1.04% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on FCPT. Weiss Ratings reiterated a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Friday, January 9th. Wells Fargo & Company cut their price target on shares of Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 25th. Citigroup reiterated a “market perform” rating on shares of Four Corners Property Trust in a research note on Monday, January 5th. Raymond James Financial decreased their price objective on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a report on Tuesday, March 17th. Finally, Evercore dropped their target price on shares of Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating for the company in a research report on Monday, December 15th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Four Corners Property Trust currently has a consensus rating of “Hold” and an average price target of $27.83.

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.