Northwestern Mutual Wealth Management Co. Invests $555,000 in Four Corners Property Trust, Inc. $FCPT

Northwestern Mutual Wealth Management Co. acquired a new position in Four Corners Property Trust, Inc. (NYSE:FCPT) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 22,596 shares of the financial services provider’s stock, valued at approximately $555,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in Four Corners Property Trust in the 2nd quarter worth about $841,000. William Blair Investment Management LLC bought a new stake in Four Corners Property Trust during the 2nd quarter valued at $24,126,000. Landscape Capital Management L.L.C. acquired a new position in Four Corners Property Trust during the 2nd quarter worth $323,000. Ieq Capital LLC bought a new position in shares of Four Corners Property Trust in the second quarter worth $800,000. Finally, Allworth Financial LP acquired a new position in shares of Four Corners Property Trust during the second quarter valued at $68,000. 98.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FCPT has been the topic of several research analyst reports. Barclays lowered their target price on shares of Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 22nd. Citizens Jmp reaffirmed a “market outperform” rating and set a $28.00 target price on shares of Four Corners Property Trust in a report on Tuesday. Huntington began coverage on shares of Four Corners Property Trust in a report on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 target price on the stock. Citigroup reissued a “market outperform” rating on shares of Four Corners Property Trust in a research note on Tuesday. Finally, Weiss Ratings cut shares of Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.80.

Four Corners Property Trust Stock Performance

Shares of FCPT opened at $25.33 on Thursday. The company has a 50-day moving average of $25.29 and a two-hundred day moving average of $25.06. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 22.82 and a beta of 0.79. 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 one year low of $22.78 and a one year high of $26.86.

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, beating 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 business earned $0.44 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts expect that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.1222 dividend. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Four Corners Property Trust’s dividend payout ratio (DPR) is 131.53%.

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.