New Age Alpha Advisors LLC Trims Stake in Four Corners Property Trust, Inc. $FCPT

New Age Alpha Advisors LLC cut its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 21.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 89,954 shares of the financial services provider’s stock after selling 24,656 shares during the period. New Age Alpha Advisors LLC owned 0.08% of Four Corners Property Trust worth $2,195,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Elevation Point Wealth Partners LLC bought a new position in shares of Four Corners Property Trust in the 2nd quarter worth approximately $37,000. Aster Capital Management DIFC Ltd grew its stake in Four Corners Property Trust by 1,632.6% in the third quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 1,551 shares during the period. Versant Capital Management Inc raised its holdings in Four Corners Property Trust by 376.4% in the third quarter. Versant Capital Management Inc now owns 3,592 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 2,838 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Four Corners Property Trust by 31.0% in the second quarter. Smartleaf Asset Management LLC now owns 3,728 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 883 shares in the last quarter. Finally, M&G PLC purchased a new position in Four Corners Property Trust during the third quarter valued at $211,000. 98.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FCPT shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Friday, January 9th. Citigroup reissued a “market perform” rating on shares of Four Corners Property Trust in a research note on Monday, January 5th. Evercore decreased their target price on shares of 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. Finally, Wells Fargo & Company lowered their target price on shares of 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 research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $28.00.

Four Corners Property Trust Trading Up 0.6%

NYSE:FCPT opened at $25.68 on Tuesday. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 23.35 and a beta of 0.82. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average price is $24.44 and its 200-day moving average price is $24.43. Four Corners Property Trust, Inc. has a 52 week low of $22.78 and a 52 week high of $29.81.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the prior year, the firm posted $0.44 EPS. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities research 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.