Vanguard Group Inc. Raises Stock Position in Four Corners Property Trust, Inc. $FCPT

Vanguard Group Inc. raised its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,712,512 shares of the financial services provider’s stock after buying an additional 237,155 shares during the period. Vanguard Group Inc. owned about 11.04% of Four Corners Property Trust worth $285,785,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. B&I Capital AG boosted its position in Four Corners Property Trust by 20.5% in the third quarter. B&I Capital AG now owns 268,787 shares of the financial services provider’s stock worth $6,558,000 after purchasing an additional 45,687 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Four Corners Property Trust during the 3rd quarter valued at about $3,579,000. Assetmark Inc. bought a new position in shares of Four Corners Property Trust in the 2nd quarter worth approximately $463,000. Bank of New York Mellon Corp boosted its holdings in shares of Four Corners Property Trust by 4.7% in the second quarter. Bank of New York Mellon Corp now owns 915,445 shares of the financial services provider’s stock worth $24,635,000 after buying an additional 41,471 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Four Corners Property Trust by 2.6% during the second quarter. Geode Capital Management LLC now owns 2,671,928 shares of the financial services provider’s stock valued at $71,910,000 after buying an additional 68,415 shares during the period. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FCPT shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Friday, January 9th. Evercore reduced 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 research note on Monday, December 15th. Citigroup reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a report on Monday, January 5th. Finally, Wells Fargo & Company cut their price target on Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday, November 25th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.00.

Four Corners Property Trust Stock Down 0.2%

FCPT opened at $25.53 on Friday. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 23.21 and a beta of 0.83. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.13 and a current ratio of 0.13. The firm’s fifty day moving average is $24.40 and its 200 day moving average is $24.44. Four Corners Property Trust, Inc. has a fifty-two week low of $22.78 and a fifty-two week high of $29.81.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.20%.The business had revenue of $75.67 million for the quarter, compared to analysts’ expectations of $76.04 million. During the same period last year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was up 10.7% on a year-over-year basis. On average, sell-side analysts forecast that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

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.