32,597 Shares in Four Corners Property Trust, Inc. $FCPT Acquired by Ieq Capital LLC

Ieq Capital LLC bought a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 32,597 shares of the financial services provider’s stock, valued at approximately $800,000.

Several other hedge funds and other institutional investors have also bought and sold shares of FCPT. Parallel Advisors LLC raised its position in shares of Four Corners Property Trust by 80.1% in the 3rd quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 463 shares in the last quarter. Lazard Asset Management LLC grew its stake in Four Corners Property Trust by 1.1% in the second quarter. Lazard Asset Management LLC now owns 54,519 shares of the financial services provider’s stock valued at $1,467,000 after purchasing an additional 568 shares during the last quarter. Strs Ohio grew its stake in Four Corners Property Trust by 3.3% in the fourth quarter. Strs Ohio now owns 18,700 shares of the financial services provider’s stock valued at $431,000 after purchasing an additional 600 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in Four Corners Property Trust by 1.8% in the second quarter. Handelsbanken Fonder AB now owns 34,095 shares of the financial services provider’s stock worth $837,000 after purchasing an additional 600 shares in the last quarter. Finally, California State Teachers Retirement System raised its holdings in Four Corners Property Trust by 0.7% in the second quarter. California State Teachers Retirement System now owns 94,900 shares of the financial services provider’s stock worth $2,554,000 after purchasing an additional 647 shares in the last quarter. Institutional investors own 98.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FCPT shares. Wells Fargo & Company raised their price target on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Citizens Jmp reiterated a “market outperform” rating and set a $28.00 price objective on shares of Four Corners Property Trust in a research note on Tuesday. Citigroup reissued a “market outperform” rating on shares of Four Corners Property Trust in a research report on Tuesday. Weiss Ratings downgraded shares of Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Barclays cut their price target on shares of Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 22nd. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Four Corners Property Trust currently has an average rating of “Moderate Buy” and an average price target of $27.80.

Four Corners Property Trust Price Performance

Shares of FCPT stock opened at $25.20 on Friday. Four Corners Property Trust, Inc. has a fifty-two week low of $22.78 and a fifty-two week high of $26.86. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 22.70 and a beta of 0.79. The stock’s 50-day simple moving average is $25.31 and its 200-day simple moving average is $25.06.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results 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. 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 net margin of 38.70% and a return on equity of 7.35%. Four Corners Property Trust’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the business earned $0.44 EPS. As a group, equities analysts forecast that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

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

About Four Corners Property Trust

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.