Four Corners Property Trust, Inc. $FCPT Shares Acquired by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC raised its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 322,849 shares of the financial services provider’s stock after acquiring an additional 22,849 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Four Corners Property Trust were worth $7,445,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Ballentine Partners LLC acquired a new position in shares of Four Corners Property Trust during the 4th quarter worth about $201,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Four Corners Property Trust by 3.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 83,418 shares of the financial services provider’s stock worth $1,939,000 after acquiring an additional 2,872 shares in the last quarter. Strs Ohio boosted its position in shares of Four Corners Property Trust by 3.3% during the 4th quarter. Strs Ohio now owns 18,700 shares of the financial services provider’s stock worth $431,000 after acquiring an additional 600 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Four Corners Property Trust by 6.3% during the 4th quarter. Jennison Associates LLC now owns 92,480 shares of the financial services provider’s stock worth $2,133,000 after buying an additional 5,502 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its position in shares of Four Corners Property Trust by 8.6% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 89,608 shares of the financial services provider’s stock worth $2,066,000 after buying an additional 7,100 shares during the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Raymond James Financial reduced their price objective on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a research report on Tuesday, March 17th. Citizens Jmp upgraded shares of Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 price objective for the company in a research report on Wednesday, March 25th. BMO Capital Markets assumed coverage on shares of Four Corners Property Trust in a research note on Friday, April 17th. They issued a “market perform” rating and a $27.00 price objective for the company. Barclays upped their price objective on shares of Four Corners Property Trust from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Wednesday, April 8th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $28.00.

Four Corners Property Trust Stock Down 1.1%

FCPT stock opened at $25.18 on Friday. The company has a fifty day moving average price of $24.98 and a 200 day moving average price of $24.39. Four Corners Property Trust, Inc. has a 12 month low of $22.78 and a 12 month high of $28.11. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 22.49 and a beta of 0.83. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.15 and a quick ratio of 0.15.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.14). The business had revenue of $78.17 million during the quarter, compared to analysts’ expectations of $73.34 million. Four Corners Property Trust had a net margin of 38.74% and a return on equity of 7.38%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 EPS. Sell-side analysts expect that Four Corners Property Trust, Inc. will post 1.75 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.3665 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.47 annualized dividend and a yield of 5.8%. Four Corners Property Trust’s dividend payout ratio is currently 131.25%.

Insider Buying and Selling

In related news, CEO William H. Lenehan acquired 3,961 shares of Four Corners Property Trust stock in a transaction on Tuesday, May 5th. The stock was purchased at an average cost of $25.23 per share, with a total value of $99,936.03. Following the purchase, the chief executive officer directly owned 775,696 shares in the company, valued at approximately $19,570,810.08. The trade was a 0.51% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

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.