Four Corners Property Trust, Inc. $FCPT Shares Sold by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP trimmed its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 75.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 351,092 shares of the financial services provider’s stock after selling 1,092,072 shares during the quarter. Hudson Bay Capital Management LP owned approximately 0.33% of Four Corners Property Trust worth $8,567,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC increased its holdings 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 during the period. Elevation Point Wealth Partners LLC acquired a new position in Four Corners Property Trust during the 2nd quarter valued at about $37,000. Aster Capital Management DIFC Ltd boosted its stake in Four Corners Property Trust by 1,632.6% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 1,551 shares during the period. CIBC Private Wealth Group LLC grew its position in Four Corners Property Trust by 136.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,718 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 1,570 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in Four Corners Property Trust by 376.4% in the 3rd quarter. Versant Capital Management Inc now owns 3,592 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 2,838 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William H. Lenehan bought 7,865 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average price of $25.49 per share, with a total value of $200,478.85. Following the completion of the purchase, the chief executive officer directly owned 765,845 shares of the company’s stock, valued at $19,521,389.05. This represents a 1.04% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.20% of the stock is owned by corporate insiders.

Four Corners Property Trust Price Performance

NYSE FCPT opened at $25.28 on Friday. Four Corners Property Trust, Inc. has a 12 month low of $22.78 and a 12 month high of $28.98. The firm has a market capitalization of $2.77 billion, a PE ratio of 22.98 and a beta of 0.82. The company’s 50 day simple moving average is $25.01 and its 200 day simple moving average is $24.44. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.13 and a quick ratio of 0.13.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Wednesday, February 11th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $75.67 million during the quarter, compared to the consensus estimate of $76.04 million. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.20%.The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 earnings per share. As a group, equities research analysts forecast that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $0.3665 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.47 annualized dividend and a dividend yield of 5.8%. Four Corners Property Trust’s dividend payout ratio is 133.64%.

Analyst Ratings Changes

FCPT has been the topic of a number of recent analyst reports. Raymond James Financial cut their price target on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a report on Tuesday. Evercore decreased their price objective on Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating for the company in a report on Monday, December 15th. Wells Fargo & Company lowered their target price on Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Friday, January 9th. Finally, Citigroup reiterated a “market perform” rating on shares of Four Corners Property Trust in a research report on Monday, January 5th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $27.83.

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.