UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 649,702 Shares of Four Corners Property Trust, Inc. $FCPT

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 15,777.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 653,820 shares of the financial services provider’s stock after buying an additional 649,702 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Four Corners Property Trust were worth $16,051,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Deutsche Bank AG bought a new position in shares of Four Corners Property Trust during the 2nd quarter valued at about $15,215,000. Lasalle Investment Management Securities LLC bought a new stake in Four Corners Property Trust in the 4th quarter worth approximately $32,889,000. Northwestern Mutual Wealth Management Co. boosted its stake in Four Corners Property Trust by 20,354.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,615,583 shares of the financial services provider’s stock worth $106,435,000 after buying an additional 4,593,018 shares in the last quarter. Legal & General Group Plc boosted its stake in Four Corners Property Trust by 21.5% in the fourth quarter. Legal & General Group Plc now owns 732,656 shares of the financial services provider’s stock worth $16,895,000 after buying an additional 129,610 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Four Corners Property Trust by 7.9% during the first quarter. Bank of America Corp DE now owns 1,317,179 shares of the financial services provider’s stock valued at $31,151,000 after acquiring an additional 96,689 shares during the last quarter. 98.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Huntington assumed coverage on shares of Four Corners Property Trust in a research note on Wednesday, July 15th. They set an “outperform” rating and a $27.00 price target on the stock. UBS Group reaffirmed a “buy” rating and set a $30.00 target price on shares of Four Corners Property Trust in a report on Thursday, July 9th. Barclays lifted their target price on shares of Four Corners Property Trust from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday. Citigroup reissued a “market outperform” rating on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. Finally, Citizens Jmp restated a “market outperform” rating and set a $28.00 price target on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Four Corners Property Trust currently has an average rating of “Moderate Buy” and an average price target of $27.90.

Four Corners Property Trust Stock Performance

Shares of FCPT stock opened at $24.96 on Friday. The company has a market capitalization of $2.74 billion, a P/E ratio of 22.49 and a beta of 0.79. 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 stock has a 50 day moving average price of $25.31 and a two-hundred day moving average price of $25.06.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $78.42 million for the quarter, compared to analysts’ expectations of $79.02 million. During the same quarter last year, the business earned $0.44 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. Analysts expect that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Shareholders 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 5.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Four Corners Property Trust’s dividend payout ratio (DPR) is 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.