Sei Investments Co. Grows Stock Holdings in Four Corners Property Trust, Inc. $FCPT

Sei Investments Co. grew its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 144.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,157 shares of the financial services provider’s stock after purchasing an additional 47,421 shares during the period. Sei Investments Co.’s holdings in Four Corners Property Trust were worth $1,896,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lasalle Investment Management Securities LLC purchased a new position in shares of Four Corners Property Trust during the 4th quarter valued at about $32,889,000. B&I Capital AG boosted its stake in Four Corners Property Trust by 19.7% in the fourth quarter. B&I Capital AG now owns 321,787 shares of the financial services provider’s stock worth $7,420,000 after buying an additional 53,000 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Four Corners Property Trust by 20,354.6% during the fourth 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 acquiring an additional 4,593,018 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Four Corners Property Trust by 21.5% during the fourth quarter. Legal & General Group Plc now owns 732,656 shares of the financial services provider’s stock worth $16,895,000 after acquiring an additional 129,610 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of 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 in the last quarter. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Four Corners Property Trust Price Performance

Shares of Four Corners Property Trust stock opened at $25.07 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.14 and a quick ratio of 0.14. The business’s 50 day simple moving average is $25.17 and its two-hundred day simple moving average is $25.00. The stock has a market capitalization of $2.75 billion, a P/E ratio of 22.58 and a beta of 0.79. Four Corners Property Trust, Inc. has a one year low of $22.78 and a one year high of $26.86.

Four Corners Property Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.1222 dividend. The ex-dividend date is Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 5.9%. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 132.43%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FCPT. Citigroup reaffirmed a “market outperform” rating on shares of Four Corners Property Trust in a research note on Monday, June 1st. UBS Group reiterated a “buy” rating and issued a $30.00 target price on shares of Four Corners Property Trust in a research report on Thursday, July 9th. Wells Fargo & Company boosted their price target on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Weiss Ratings raised shares of Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. Finally, BMO Capital Markets assumed coverage on shares of 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. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Four Corners Property Trust currently has an average rating of “Moderate Buy” and a consensus target price of $27.78.

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.