Hsbc Holdings PLC Buys Shares of 210,550 Four Corners Property Trust, Inc. $FCPT

Hsbc Holdings PLC bought a new position in Four Corners Property Trust, Inc. (NYSE:FCPT) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 210,550 shares of the financial services provider’s stock, valued at approximately $5,169,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Deutsche Bank AG bought a new position in Four Corners Property Trust in the 2nd quarter valued at approximately $15,215,000. Lasalle Investment Management Securities LLC bought a new stake in shares of Four Corners Property Trust in the 4th quarter worth $32,889,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Four Corners Property Trust by 20,354.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,615,583 shares of the financial services provider’s stock worth $106,435,000 after purchasing an additional 4,593,018 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Four Corners Property Trust by 21.5% in the fourth quarter. Legal & General Group Plc now owns 732,656 shares of the financial services provider’s stock worth $16,895,000 after purchasing an additional 129,610 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Four Corners Property Trust by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 2,852,968 shares of the financial services provider’s stock valued at $65,800,000 after purchasing an additional 110,791 shares in the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FCPT has been the topic of several recent analyst reports. Huntington started coverage on Four Corners Property Trust in a research report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 price objective on the stock. Citigroup reissued a “market outperform” rating on shares of Four Corners Property Trust in a research report on Tuesday. Citizens Jmp restated a “market outperform” rating and set a $28.00 price objective on shares of Four Corners Property Trust in a research report on Tuesday. UBS Group restated a “buy” rating and issued a $30.00 target price on shares of Four Corners Property Trust in a report on Thursday, July 9th. Finally, Weiss Ratings downgraded shares of Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.80.

Four Corners Property Trust Stock Up 0.4%

FCPT stock opened at $25.29 on Friday. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 22.78 and a beta of 0.79. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.14 and a current ratio of 0.14. The business’s 50-day moving average is $25.32 and its two-hundred day moving average is $25.06. Four Corners Property Trust, Inc. has a fifty-two week low of $22.78 and a fifty-two week high of $26.86.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly 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. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.The business had revenue of $78.42 million during the quarter, compared to the consensus estimate of $79.02 million. During the same period in the previous year, the company posted $0.44 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, analysts forecast that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.1222 per share. The ex-dividend date is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. Four Corners Property Trust’s payout ratio is 132.43%.

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.