Northwestern Mutual Wealth Management Co. Takes Position in Four Corners Property Trust, Inc. $FCPT

Northwestern Mutual Wealth Management Co. purchased a new position in Four Corners Property Trust, Inc. (NYSE:FCPT) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 22,596 shares of the financial services provider’s stock, valued at approximately $555,000.

Other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC grew its position in Four Corners Property Trust by 80.1% during the third quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 463 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Four Corners Property Trust by 829.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,115 shares of the financial services provider’s stock valued at $26,000 after buying an additional 995 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Four Corners Property Trust during the 4th quarter valued at $36,000. Huntington National Bank grew its holdings in shares of Four Corners Property Trust by 114.1% during the 4th quarter. Huntington National Bank now owns 1,569 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 836 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Four Corners Property Trust by 326.1% during the first quarter. Bessemer Group Inc. now owns 1,649 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 1,262 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FCPT. Weiss Ratings downgraded Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Wells Fargo & Company lifted their target price 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. Barclays decreased their target price on shares of Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Huntington initiated coverage on shares of Four Corners Property Trust in a report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 price target on the stock. Finally, UBS Group reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Four Corners Property Trust in a research note on Thursday, July 9th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.80.

Four Corners Property Trust Trading Down 0.1%

NYSE:FCPT opened at $25.33 on Thursday. The company’s 50 day moving average is $25.29 and its 200-day moving average is $25.06. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.39. Four Corners Property Trust, Inc. has a 12 month low of $22.78 and a 12 month high of $26.86. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 22.82 and a beta of 0.79.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.16. The business had revenue of $78.42 million for the quarter, compared to analyst estimates 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 was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $0.44 EPS. Equities analysts anticipate that Four Corners Property Trust, Inc. will post 1.76 EPS for the current year.

Four Corners Property Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.1222 dividend. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 131.53%.

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.