GSA Capital Partners LLP Buys New Shares in Four Corners Property Trust, Inc. $FCPT

GSA Capital Partners LLP purchased a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 83,943 shares of the financial services provider’s stock, valued at approximately $2,061,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FCPT. AQR Capital Management LLC boosted its stake in shares of Four Corners Property Trust by 20.3% during the 1st quarter. AQR Capital Management LLC now owns 34,273 shares of the financial services provider’s stock worth $984,000 after buying an additional 5,786 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Four Corners Property Trust by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,416 shares of the financial services provider’s stock valued at $1,648,000 after acquiring an additional 2,508 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Four Corners Property Trust by 13.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 681,843 shares of the financial services provider’s stock valued at $19,569,000 after acquiring an additional 79,023 shares during the last quarter. Jane Street Group LLC bought a new stake in Four Corners Property Trust during the first quarter worth about $2,627,000. Finally, American Century Companies Inc. raised its holdings in Four Corners Property Trust by 34.3% during the second quarter. American Century Companies Inc. now owns 37,054 shares of the financial services provider’s stock worth $997,000 after acquiring an additional 9,460 shares in the last quarter. 98.66% of the stock is owned by institutional investors.

Four Corners Property Trust Price Performance

Shares of NYSE FCPT opened at $25.23 on Friday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average price is $25.23 and its two-hundred day moving average price is $25.01. The company has a market cap of $2.77 billion, a PE ratio of 22.73 and a beta of 0.79. Four Corners Property Trust, Inc. has a twelve month low of $22.78 and a twelve month high of $26.86.

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 paid a dividend of $0.1222 per share. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Wednesday, September 30th. Four Corners Property Trust’s payout ratio is currently 132.43%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FCPT. Barclays reduced their price target on 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. Weiss Ratings lowered Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday. Citigroup reiterated a “market outperform” rating on shares of Four Corners Property Trust in a research note on Monday, June 1st. Huntington started coverage on Four Corners Property Trust in a report on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 price objective for the company. Finally, UBS Group reissued a “buy” rating and issued a $30.00 target price 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 stock. Based on data from MarketBeat, Four Corners Property Trust presently has a consensus rating of “Moderate Buy” and an average price target of $27.78.

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.