Sumitomo Mitsui Trust Group Inc. Has $55.47 Million Stock Position in Four Corners Property Trust, Inc. $FCPT

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 75.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,345,427 shares of the financial services provider’s stock after purchasing an additional 1,010,648 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Four Corners Property Trust were worth $55,469,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. B&I Capital AG lifted its position in shares of Four Corners Property Trust by 19.7% during the 4th quarter. B&I Capital AG now owns 321,787 shares of the financial services provider’s stock worth $7,420,000 after buying an additional 53,000 shares during the last quarter. Lasalle Investment Management Securities LLC bought a new position in Four Corners Property Trust in the fourth quarter valued at about $32,889,000. Northwestern Mutual Wealth Management Co. grew its position 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 valued at $106,435,000 after acquiring an additional 4,593,018 shares during the last quarter. Legal & General Group Plc raised its stake in Four Corners Property Trust by 21.5% during the fourth quarter. Legal & General Group Plc now owns 732,656 shares of the financial services provider’s stock worth $16,895,000 after acquiring an additional 129,610 shares in the last quarter. Finally, UBS Group AG raised its stake in Four Corners Property Trust by 37.5% during the fourth quarter. UBS Group AG now owns 179,900 shares of the financial services provider’s stock worth $4,148,000 after acquiring an additional 49,060 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Wall Street Analyst Weigh In

FCPT has been the subject of a number of research reports. Raymond James Financial dropped their target price on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a report on Tuesday, March 17th. Barclays lifted their price target on shares of Four Corners Property Trust from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Tuesday, April 21st. 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. Wells Fargo & Company increased their price objective on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Finally, BMO Capital Markets began coverage on shares of Four Corners Property Trust in a research report on Friday, April 17th. They issued a “market perform” rating and a $27.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $28.00.

Insider Activity at Four Corners Property Trust

In related news, CEO William H. Lenehan bought 3,961 shares of Four Corners Property Trust stock in a transaction that occurred on Tuesday, May 5th. The shares were acquired at an average cost of $25.23 per share, for a total transaction of $99,936.03. Following the completion of the acquisition, the chief executive officer directly owned 775,696 shares of the company’s stock, valued at approximately $19,570,810.08. The trade was a 0.51% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Four Corners Property Trust Trading Up 1.1%

Shares of Four Corners Property Trust stock traded up $0.27 during trading on Friday, hitting $24.98. The company’s stock had a trading volume of 619,164 shares, compared to its average volume of 907,492. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 22.30 and a beta of 0.80. Four Corners Property Trust, Inc. has a 52 week low of $22.78 and a 52 week high of $26.96. The stock has a 50-day moving average price of $24.89 and a two-hundred day moving average price of $24.72. 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 announced its earnings results on Wednesday, April 29th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.14). The company had revenue of $78.17 million for the quarter, compared to the consensus estimate of $73.34 million. Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 earnings per share. Equities research analysts anticipate that Four Corners Property Trust, Inc. will post 1.76 EPS 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. Investors of record on Wednesday, September 30th will be paid a $0.1222 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Four Corners Property Trust’s payout ratio is currently 131.25%.

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.