Manning & Napier Advisors LLC Invests $9.81 Million in Four Corners Property Trust, Inc. $FCPT

Manning & Napier Advisors LLC purchased a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 399,486 shares of the financial services provider’s stock, valued at approximately $9,807,000.

Other hedge funds have also added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new position in Four Corners Property Trust during the second quarter worth about $400,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Four Corners Property Trust in the second quarter worth about $5,210,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Four Corners Property Trust during the second quarter worth about $555,000. Quantbot Technologies LP bought a new position in shares of Four Corners Property Trust during the 2nd quarter valued at about $841,000. Finally, William Blair Investment Management LLC acquired a new position in shares of Four Corners Property Trust in the 2nd quarter valued at approximately $24,126,000. Institutional investors and hedge funds own 98.66% of the company’s stock.

Analysts Set New Price Targets

FCPT has been the topic of several research analyst reports. Citigroup restated a “market outperform” rating on shares of Four Corners Property Trust in a report on Monday, June 1st. Huntington initiated coverage on shares of Four Corners Property Trust in a research report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 price objective for the company. UBS Group restated a “buy” rating and set a $30.00 price objective on shares of Four Corners Property Trust in a report on Thursday, July 9th. Wells Fargo & Company boosted their price objective on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Finally, Barclays reduced 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 note on Wednesday, July 22nd. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Four Corners Property Trust presently has an average rating of “Moderate Buy” and a consensus price target of $27.78.

Four Corners Property Trust Price Performance

Shares of FCPT opened at $25.52 on Tuesday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.39. Four Corners Property Trust, Inc. has a twelve month low of $22.78 and a twelve month high of $26.86. The stock has a market capitalization of $2.80 billion, a P/E ratio of 22.99 and a beta of 0.79. The company has a 50 day moving average of $25.26 and a 200-day moving average of $25.06.

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

Four Corners Property Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.1222 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Wednesday, September 30th. Four Corners Property Trust’s dividend payout ratio is currently 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.