104,889 Four Corners Property Trust, Inc. $FCPT Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC increased its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 36.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 389,225 shares of the financial services provider’s stock after buying an additional 104,889 shares during the period. ProShare Advisors LLC’s holdings in Four Corners Property Trust were worth $8,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Deutsche Bank AG acquired a new position in Four Corners Property Trust during the second quarter worth $15,215,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Four Corners Property Trust by 15,777.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 653,820 shares of the financial services provider’s stock valued at $16,051,000 after purchasing an additional 649,702 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Four Corners Property Trust during the second quarter valued at $2,061,000. Corient Private Wealth LP acquired a new stake in shares of Four Corners Property Trust in the second quarter valued at about $2,584,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Four Corners Property Trust in the second quarter valued at about $1,112,000. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Trading Up 2.4%

Shares of FCPT stock opened at $23.71 on Thursday. Four Corners Property Trust, Inc. has a fifty-two week low of $20.85 and a fifty-two week high of $26.86. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.12 and a current ratio of 0.12. The stock’s fifty day moving average is $22.76 and its two-hundred day moving average is $24.46. The firm has a market capitalization of $2.60 billion, a P/E ratio of 21.75 and a beta of 0.77.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Wednesday, October 28th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). The business had revenue of $83.68 million for the quarter, compared to analysts’ expectations of $82.44 million. Four Corners Property Trust had a return on equity of 7.24% and a net margin of 37.53%. Four Corners Property Trust’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 EPS. Research 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 firm also recently declared a monthly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be given a dividend of $0.1265 per share. The ex-dividend date is Thursday, December 31st. This represents a $1.52 dividend on an annualized basis and a yield of 6.4%. Four Corners Property Trust’s payout ratio is presently 138.53%.

Insiders Place Their Bets

In other Four Corners Property Trust news, CEO William Lenehan acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was bought at an average price of $22.61 per share, with a total value of $226,100.00. Following the purchase, the chief executive officer owned 789,857 shares in the company, valued at approximately $17,858,666.77. The trade was a 1.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on FCPT shares. UBS Group reissued a “buy” rating and set a $30.00 target price on shares of Four Corners Property Trust in a research note on Thursday, July 9th. Royal Bank Of Canada set a $26.00 price objective on Four Corners Property Trust in a report on Monday. Barclays lowered their price objective on Four Corners Property Trust from $30.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 20th. Citigroup reiterated a “market outperform” rating on shares of Four Corners Property Trust in a research note on Monday. Finally, Wells Fargo & Company reduced their target price on Four Corners Property Trust from $26.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.45.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc is a real estate investment trust (REIT) that owns and manages a portfolio of primarily restaurant and retail properties in the United States. The company generally leases its properties to operators under long-term, net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

FCPT’s portfolio is concentrated in restaurant locations but also includes properties leased to tenants in other retail and service-oriented industries.