Quantbot Technologies LP Acquires New Shares in Four Corners Property Trust, Inc. $FCPT

Quantbot Technologies LP bought a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 34,266 shares of the financial services provider’s stock, valued at approximately $841,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FCPT. AQR Capital Management LLC grew its holdings in shares of Four Corners Property Trust by 20.3% during the 1st quarter. AQR Capital Management LLC now owns 34,273 shares of the financial services provider’s stock valued at $984,000 after purchasing an additional 5,786 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Four Corners Property Trust by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,416 shares of the financial services provider’s stock valued at $1,648,000 after purchasing an additional 2,508 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Four Corners Property Trust by 13.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 681,843 shares of the financial services provider’s stock valued at $19,569,000 after purchasing an additional 79,023 shares during the last quarter. Jane Street Group LLC acquired a new stake in Four Corners Property Trust in the first quarter valued at approximately $2,627,000. Finally, American Century Companies Inc. grew its stake in shares of Four Corners Property Trust by 34.3% during the second quarter. American Century Companies Inc. now owns 37,054 shares of the financial services provider’s stock worth $997,000 after buying an additional 9,460 shares during the last quarter. Institutional investors own 98.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FCPT. Huntington began coverage on shares of Four Corners Property Trust in a report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 price target for the company. Citizens Jmp reissued a “market outperform” rating and set a $28.00 price objective on shares of Four Corners Property Trust in a report on Tuesday. Jefferies Financial Group set a $28.00 target price on Four Corners Property Trust in a report on Tuesday. Wells Fargo & Company increased their target price on Four Corners Property Trust from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Finally, 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. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.80.

Four Corners Property Trust Price Performance

FCPT stock opened at $25.33 on Thursday. The company has a market capitalization of $2.78 billion, a P/E ratio of 22.82 and a beta of 0.79. The company has a fifty day moving average price of $25.29 and a 200-day moving average price of $25.06. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.14 and a current ratio of 0.14. Four Corners Property Trust, Inc. has a 52-week low of $22.78 and a 52-week high of $26.86.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.16. The company had revenue of $78.42 million for the quarter, compared to analysts’ expectations of $79.02 million. Four Corners Property Trust had a net margin of 38.70% and a return on equity of 7.35%. Four Corners Property Trust’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 earnings per share. As a group, equities analysts expect that Four Corners Property Trust, Inc. will post 1.76 EPS for the current year.

Four Corners Property Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.1222 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Wednesday, September 30th. Four Corners Property Trust’s payout ratio is 131.53%.

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.