Connor Clark & Lunn Investment Management Ltd. Makes New $5.21 Million Investment in Four Corners Property Trust, Inc. $FCPT

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT) in the second quarter, HoldingsChannel.com reports. The fund bought 212,239 shares of the financial services provider’s stock, valued at approximately $5,210,000.

Several other institutional investors also recently made changes to their positions in the stock. Deutsche Bank AG bought a new position in Four Corners Property Trust during the 2nd quarter worth $15,215,000. Lasalle Investment Management Securities LLC bought a new stake in Four Corners Property Trust in the fourth quarter valued at $32,889,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of 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 period. Legal & General Group Plc boosted its holdings 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 valued at $16,895,000 after acquiring an additional 129,610 shares during the period. Finally, Geode Capital Management LLC boosted its holdings 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 valued at $65,800,000 after acquiring an additional 110,791 shares during the period. 98.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Citigroup reiterated a “market outperform” rating on shares of Four Corners Property Trust in a research report on Tuesday. Weiss Ratings lowered shares of Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Barclays decreased their target price on shares of Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Finally, UBS Group restated a “buy” rating and issued a $30.00 price target on shares of Four Corners Property Trust in a research note on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.80.

Four Corners Property Trust Stock Down 0.4%

Shares of Four Corners Property Trust stock opened at $25.20 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.14 and a quick ratio of 0.14. Four Corners Property Trust, Inc. has a 1-year low of $22.78 and a 1-year high of $26.86. The business’s fifty day moving average price is $25.31 and its two-hundred day moving average price is $25.06. The company has a market capitalization of $2.77 billion, a P/E ratio of 22.70 and a beta of 0.79.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.16. The company had revenue of $78.42 million during the quarter, compared to analysts’ expectations of $79.02 million. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.44 earnings per share. As a group, research analysts forecast that Four Corners Property Trust, Inc. will post 1.76 EPS for the current year.

Four Corners Property Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.1222 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a c) annualized dividend and a yield of 5.8%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 132.43%.

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.