Boston Trust Walden Corp Reduces Position in Four Corners Property Trust, Inc. $FCPT

Boston Trust Walden Corp reduced its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 11.1% during the first quarter, Holdings Channel reports. The institutional investor owned 1,239,360 shares of the financial services provider’s stock after selling 154,738 shares during the period. Boston Trust Walden Corp’s holdings in Four Corners Property Trust were worth $29,311,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in FCPT. Northwestern Mutual Wealth Management Co. grew its holdings in Four Corners Property Trust by 20,354.6% during the 4th 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 buying an additional 4,593,018 shares in the last quarter. Lasalle Investment Management Securities LLC purchased a new position in Four Corners Property Trust during the fourth quarter valued at $32,889,000. Sumitomo Mitsui Trust Group Inc. grew its stake in Four Corners Property Trust by 1,071.8% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,334,779 shares of the financial services provider’s stock valued at $30,780,000 after acquiring an additional 1,220,871 shares in the last quarter. Callodine Capital Management LP bought a new stake in Four Corners Property Trust in the 3rd quarter valued at $18,673,000. Finally, Millennium Management LLC increased its holdings in Four Corners Property Trust by 478.4% in the 4th quarter. Millennium Management LLC now owns 744,787 shares of the financial services provider’s stock valued at $17,175,000 after acquiring an additional 616,012 shares during the last quarter. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Four Corners Property Trust Trading Down 0.1%

Shares of NYSE:FCPT opened at $25.08 on Friday. The company has a market cap of $2.75 billion, a PE ratio of 22.39 and a beta of 0.80. 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 company’s 50 day moving average is $24.93 and its two-hundred day moving average is $24.66. Four Corners Property Trust, Inc. has a 52 week low of $22.78 and a 52 week high of $27.40.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data 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). Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.The business had revenue of $78.17 million for the quarter, compared to analyst estimates of $73.34 million. During the same period in the prior year, the company posted $0.44 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. Equities analysts predict that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.1222 dividend. This represents a c) dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Four Corners Property Trust’s dividend payout ratio is 131.25%.

Analysts Set New Price Targets

A number of brokerages have commented on FCPT. 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. Citigroup reiterated a “market outperform” rating on shares of Four Corners Property Trust in a research note on Monday, June 1st. Raymond James Financial lowered 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 research note on Tuesday, March 17th. Barclays raised their target price on shares of Four Corners Property Trust from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 21st. Finally, BMO Capital Markets assumed coverage on Four Corners Property Trust in a research report on Friday, April 17th. They issued a “market perform” rating and a $27.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $28.12.

Insider Buying and Selling

In related news, CEO William H. Lenehan acquired 3,961 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were bought at an average price 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 in the company, valued at $19,570,810.08. This trade represents a 0.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.20% of the stock is owned by corporate insiders.

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.