Westport Asset Management Inc. Acquires Shares of 19,998 Four Corners Property Trust, Inc. $FCPT

Westport Asset Management Inc. acquired a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 19,998 shares of the financial services provider’s stock, valued at approximately $491,000.

Other large investors have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Four Corners Property Trust during the 2nd quarter valued at approximately $490,406,000. Deutsche Bank AG purchased a new stake in Four Corners Property Trust in the 2nd quarter worth $15,215,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Four Corners Property Trust in the 2nd quarter worth $2,249,000. Bank of New York Mellon Corp acquired a new position in Four Corners Property Trust during the second quarter worth $25,196,000. Finally, GSA Capital Partners LLP acquired a new position in Four Corners Property Trust during the second quarter worth $2,061,000. 98.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FCPT. Citigroup reiterated a “market outperform” rating on shares of Four Corners Property Trust in a research report on Monday, June 1st. Weiss Ratings lowered Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Huntington started coverage on Four Corners Property Trust in a report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 target price for the company. UBS Group restated a “buy” rating and issued a $30.00 target price on shares of Four Corners Property Trust in a research report on Thursday, July 9th. Finally, Wells Fargo & Company lifted their price target on Four Corners Property Trust from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.78.

Four Corners Property Trust Stock Performance

NYSE:FCPT opened at $25.22 on Thursday. The company’s 50-day moving average price is $25.24 and its 200-day moving average price is $25.04. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.39. The company has a market cap of $2.77 billion, a P/E ratio of 22.72 and a beta of 0.79. Four Corners Property Trust, Inc. has a twelve month low of $22.78 and a twelve month high of $26.86.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.16. Four Corners Property Trust had a net margin of 38.70% and a return on equity of 7.35%. The firm had revenue of $78.42 million for the quarter, compared to analyst estimates of $79.02 million. During the same period in the previous year, the business posted $0.44 earnings per share. Four Corners Property Trust’s quarterly revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts forecast 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 declared a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.1222 dividend. 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 dividend payout ratio is 132.43%.

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.