Versor Investments LP Raises Holdings in Four Corners Property Trust, Inc. $FCPT

Versor Investments LP boosted its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 112.8% in the 4th quarter, HoldingsChannel reports. The fund owned 39,150 shares of the financial services provider’s stock after buying an additional 20,750 shares during the quarter. Versor Investments LP’s holdings in Four Corners Property Trust were worth $903,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. B&I Capital AG raised its position in Four Corners Property Trust by 20.5% during the 3rd quarter. B&I Capital AG now owns 268,787 shares of the financial services provider’s stock valued at $6,558,000 after purchasing an additional 45,687 shares during the last quarter. Public Sector Pension Investment Board raised its position in Four Corners Property Trust by 18.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 407,427 shares of the financial services provider’s stock valued at $9,941,000 after purchasing an additional 64,906 shares during the last quarter. JPMorgan Chase & Co. raised its position in Four Corners Property Trust by 20.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 611,782 shares of the financial services provider’s stock valued at $14,927,000 after purchasing an additional 104,480 shares during the last quarter. Clear Trail Advisors LLC bought a new position in Four Corners Property Trust during the 4th quarter valued at approximately $1,328,000. Finally, Victory Capital Management Inc. raised its position in Four Corners Property Trust by 7.2% during the 3rd quarter. Victory Capital Management Inc. now owns 3,902,064 shares of the financial services provider’s stock valued at $95,210,000 after purchasing an additional 262,581 shares during the last quarter. Institutional investors own 98.66% of the company’s stock.

Insider Activity at Four Corners Property Trust

In related news, CEO William H. Lenehan bought 3,961 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were purchased at an average cost of $25.23 per share, with a total value of $99,936.03. Following the completion of the purchase, 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. BMO Capital Markets assumed coverage on Four Corners Property Trust in a research report on Friday, April 17th. They set a “market perform” rating and a $27.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Wednesday, April 8th. Citizens Jmp raised Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 price target for the company in a research report on Wednesday, March 25th. Barclays upped their price target on Four Corners Property Trust from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 21st. Finally, Raymond James Financial lowered their price target on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a research report on Tuesday, March 17th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Four Corners Property Trust has a consensus rating of “Hold” and an average price target of $28.00.

Four Corners Property Trust Stock Performance

Shares of FCPT stock opened at $25.07 on Wednesday. Four Corners Property Trust, Inc. has a 12 month low of $22.78 and a 12 month high of $28.11. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.35. The stock has a market cap of $2.75 billion, a PE ratio of 22.38 and a beta of 0.83. The company’s fifty day moving average price is $24.96 and its 200-day moving average price is $24.40.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.14). Four Corners Property Trust had a net margin of 38.74% and a return on equity of 7.38%. The company had revenue of $78.17 million for the quarter, compared to the consensus estimate of $73.34 million. During the same period last year, the business earned $0.44 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. On average, equities analysts expect that Four Corners Property Trust, Inc. will post 1.75 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

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

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.