Lasalle Investment Management Securities LLC Acquires Shares of 1,426,241 Four Corners Property Trust, Inc. $FCPT

Lasalle Investment Management Securities LLC acquired a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,426,241 shares of the financial services provider’s stock, valued at approximately $32,889,000. Four Corners Property Trust accounts for about 1.3% of Lasalle Investment Management Securities LLC’s investment portfolio, making the stock its 28th largest holding.

Other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in 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 valued at $25,000 after purchasing an additional 463 shares during the period. Farther Finance Advisors LLC boosted its holdings in Four Corners Property Trust by 829.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,115 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 995 shares during the period. First Horizon Corp boosted its holdings in Four Corners Property Trust by 147.4% in the 4th quarter. First Horizon Corp now owns 1,190 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 709 shares during the period. Huntington National Bank boosted its holdings in Four Corners Property Trust by 114.1% in the 4th quarter. Huntington National Bank now owns 1,569 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 836 shares during the period. Finally, Aster Capital Management DIFC Ltd boosted its holdings in Four Corners Property Trust by 1,632.6% in 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. Institutional investors own 98.66% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on FCPT. Weiss Ratings upgraded Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 20th. BMO Capital Markets began coverage on Four Corners Property Trust in a report on Friday, April 17th. They issued a “market perform” rating and a $27.00 target price on the stock. Citizens Jmp raised Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 target price on the stock in a report on Wednesday, March 25th. Citigroup restated a “market outperform” rating on shares of Four Corners Property Trust in a research report on Monday. Finally, Raymond James Financial reduced their price objective on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 17th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $28.00.

Insider Transactions at Four Corners Property Trust

In related news, CEO William H. Lenehan acquired 7,865 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average cost of $25.49 per share, for a total transaction of $200,478.85. Following the transaction, the chief executive officer directly owned 765,845 shares in the company, valued at $19,521,389.05. This trade represents a 1.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Four Corners Property Trust Price Performance

FCPT stock opened at $24.96 on Monday. The company has a 50 day simple moving average of $24.77 and a 200 day simple moving average of $24.48. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 22.29 and a beta of 0.80. Four Corners Property Trust, Inc. has a 1 year low of $22.78 and a 1 year high of $28.11. 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 data on Wednesday, April 29th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.14). The company had revenue of $78.17 million for the quarter, compared to analyst estimates of $73.34 million. Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.Four Corners Property Trust’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 earnings per share. Research analysts anticipate that Four Corners Property Trust, Inc. will post 1.75 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $0.3665 per share. This represents a $1.47 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date was Tuesday, March 31st. Four Corners Property Trust’s dividend 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.