102,004 Shares in Four Corners Property Trust, Inc. $FCPT Purchased by Isthmus Partners LLC

Isthmus Partners LLC purchased a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 102,004 shares of the financial services provider’s stock, valued at approximately $2,220,000. Isthmus Partners LLC owned about 0.09% of Four Corners Property Trust at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Deutsche Bank AG acquired a new position in Four Corners Property Trust in the 2nd quarter valued at $15,215,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Four Corners Property Trust by 15,777.1% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 653,820 shares of the financial services provider’s stock worth $16,051,000 after buying an additional 649,702 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Four Corners Property Trust in the 2nd quarter worth $2,061,000. Corient Private Wealth LP acquired a new stake in shares of Four Corners Property Trust in the 2nd quarter worth $2,584,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Four Corners Property Trust in the 2nd quarter worth $1,112,000. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Trading Up 4.2%

Shares of FCPT stock opened at $22.08 on Friday. The business’s fifty day moving average price is $23.23 and its 200 day moving average price is $24.43. Four Corners Property Trust, Inc. has a 1-year low of $20.85 and a 1-year high of $26.86. The firm has a market capitalization of $2.42 billion, a PE ratio of 11.77 and a beta of 0.80. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.14 and a quick ratio of 0.14.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.16. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%. The firm had revenue of $78.42 million during the quarter, compared to analysts’ expectations of $79.02 million. During the same quarter in the prior year, the business posted $0.44 earnings per share. Four Corners Property Trust’s revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts forecast 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 declared a monthly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be paid a dividend of $0.1265 per share. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 6.9%. Four Corners Property Trust’s dividend payout ratio is 132.43%.

Wall Street Analyst Weigh In

FCPT has been the topic of several analyst reports. Huntington started coverage on shares of Four Corners Property Trust in a report on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 target price on the stock. Wells Fargo & Company cut their price target on shares of Four Corners Property Trust from $26.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday. Weiss Ratings cut shares of Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. reduced their price objective on shares of Four Corners Property Trust from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, October 6th. Finally, Jefferies Financial Group set a $28.00 price objective on Four Corners Property Trust in a report on Tuesday, August 25th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $26.91.

Four Corners Property Trust Profile

Four Corners Property Trust, Inc is a real estate investment trust (REIT) that owns and manages a portfolio of primarily restaurant and retail properties in the United States. The company generally leases its properties to operators under long-term, net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

FCPT’s portfolio is concentrated in restaurant locations but also includes properties leased to tenants in other retail and service-oriented industries.