Y Intercept Hong Kong Ltd Has $1.50 Million Stake in Four Corners Property Trust, Inc. $FCPT

Y Intercept Hong Kong Ltd trimmed its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 57.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,511 shares of the financial services provider’s stock after selling 84,999 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.06% of Four Corners Property Trust worth $1,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC increased its stake in Four Corners Property Trust by 80.1% in the 3rd quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock valued at $25,000 after buying an additional 463 shares during the period. Farther Finance Advisors LLC lifted its position in Four Corners Property Trust by 829.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,115 shares of the financial services provider’s stock worth $26,000 after buying an additional 995 shares in the last quarter. First Horizon Corp boosted its stake in shares of Four Corners Property Trust by 147.4% during the 4th quarter. First Horizon Corp now owns 1,190 shares of the financial services provider’s stock valued at $27,000 after buying an additional 709 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Four Corners Property Trust during the 4th quarter valued at $36,000. Finally, Huntington National Bank grew its holdings in shares of Four Corners Property Trust by 114.1% during the 4th quarter. Huntington National Bank now owns 1,569 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 836 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Up 1.1%

Shares of Four Corners Property Trust stock traded up $0.27 during midday trading on Friday, reaching $24.98. 619,164 shares of the company’s stock traded hands, compared to its average volume of 907,492. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.15 and a current ratio of 0.15. Four Corners Property Trust, Inc. has a 52 week low of $22.78 and a 52 week high of $26.96. The company’s 50 day simple moving average is $24.89 and its 200 day simple moving average is $24.72. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 22.30 and a beta of 0.80.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, April 29th. The financial services provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.14). Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.The business had revenue of $78.17 million for the quarter, compared to analyst estimates of $73.34 million. During the same period in the previous year, the company earned $0.44 earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts expect that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.1222 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. Four Corners Property Trust’s dividend payout ratio is currently 131.25%.

Insider Activity at Four Corners Property Trust

In related news, CEO William H. Lenehan acquired 3,961 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were acquired at an average cost of $25.23 per share, with a total value of $99,936.03. Following the purchase, the chief executive officer owned 775,696 shares of the company’s stock, valued at approximately $19,570,810.08. The trade was a 0.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

FCPT has been the topic of a number of research reports. Citigroup reaffirmed a “market outperform” rating on shares of Four Corners Property Trust in a research note on Monday, June 1st. BMO Capital Markets began coverage on Four Corners Property Trust in a research note on Friday, April 17th. They issued a “market perform” rating and a $27.00 target price on the stock. Weiss Ratings raised Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 26th. Barclays raised their price target on Four Corners Property Trust from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 21st. Finally, Raymond James Financial reduced their price target on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a report on Tuesday, March 17th. Four 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.com, Four Corners Property Trust presently has an average rating of “Hold” and an average target price of $28.00.

About Four Corners Property Trust

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.