Thrivent Financial for Lutherans Sells 34,753 Shares of Four Corners Property Trust, Inc. $FCPT

Thrivent Financial for Lutherans cut its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 31.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,846 shares of the financial services provider’s stock after selling 34,753 shares during the quarter. Thrivent Financial for Lutherans owned 0.07% of Four Corners Property Trust worth $1,875,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Elevation Point Wealth Partners LLC bought a new position in shares of Four Corners Property Trust during the second quarter valued at $37,000. Versant Capital Management Inc lifted its stake in Four Corners Property Trust by 376.4% during the 3rd quarter. Versant Capital Management Inc now owns 3,592 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 2,838 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Four Corners Property Trust by 31.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,728 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 883 shares during the last quarter. CWM LLC grew its stake in shares of Four Corners Property Trust by 85.8% in the second quarter. CWM LLC now owns 5,528 shares of the financial services provider’s stock worth $149,000 after acquiring an additional 2,553 shares during the period. Finally, Evergreen Capital Management LLC purchased a new position in shares of Four Corners Property Trust during the second quarter valued at approximately $214,000. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Trading Down 0.4%

Four Corners Property Trust stock opened at $25.24 on Thursday. Four Corners Property Trust, Inc. has a 12-month low of $22.78 and a 12-month high of $29.81. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 23.15 and a beta of 0.83. The firm has a 50 day moving average of $23.94 and a 200 day moving average of $24.49. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.39.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. The business had revenue of $75.67 million for the quarter, compared to the consensus estimate of $76.04 million. Four Corners Property Trust had a net margin of 38.04% and a return on equity of 7.39%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.44 earnings per share. As a group, research analysts predict that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Analyst Ratings Changes

FCPT has been the topic of several research reports. Robert W. Baird set a $29.00 target price on shares of Four Corners Property Trust in a report on Wednesday, October 29th. Wall Street Zen upgraded Four Corners Property Trust from a “sell” rating to a “hold” rating in a research note on Sunday, October 19th. Citigroup reiterated a “market perform” rating on shares of Four Corners Property Trust in a research report on Monday, January 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Four Corners Property Trust in a report on Friday, January 9th. 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 research note on Tuesday, November 25th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $28.00.

Four Corners Property Trust Company 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.