Manning & Napier Advisors LLC Purchases 76,637 Shares of Four Corners Property Trust, Inc. $FCPT

Manning & Napier Advisors LLC boosted its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 23.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 399,486 shares of the financial services provider’s stock after purchasing an additional 76,637 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Four Corners Property Trust were worth $9,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Parallel Advisors LLC raised its stake in Four Corners Property Trust by 80.1% in the third quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock worth $25,000 after buying an additional 463 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Four Corners Property Trust by 829.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,115 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 995 shares in the last quarter. First Horizon Corp grew its stake in shares of Four Corners Property Trust by 147.4% in the fourth quarter. First Horizon Corp now owns 1,190 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 709 shares during the last quarter. Huntington National Bank grew its stake in shares of Four Corners Property Trust by 114.1% in the fourth quarter. Huntington National Bank now owns 1,569 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 836 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new position in shares of Four Corners Property Trust during the fourth quarter valued at $36,000. 98.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FCPT. Citigroup reaffirmed a “market outperform” rating on shares of Four Corners Property Trust in a research report on Monday, June 1st. Citizens Jmp raised shares of Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 target price for the company in a report on Wednesday, March 25th. BMO Capital Markets initiated coverage on shares of 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. UBS Group reiterated a “buy” rating and set a $30.00 price target on shares of Four Corners Property Trust in a report on Thursday. Finally, Raymond James Financial reduced their price target on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a research report on Tuesday, March 17th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $28.00.

Insider Buying and Selling

In other Four Corners Property Trust news, CEO William H. Lenehan purchased 3,961 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were bought at an average cost of $25.23 per share, with a total value of $99,936.03. Following the acquisition, the chief executive officer owned 775,696 shares in the company, valued at approximately $19,570,810.08. This trade represents a 0.51% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.20% of the company’s stock.

Four Corners Property Trust Price Performance

Four Corners Property Trust stock traded up $0.27 during mid-day trading on Friday, hitting $24.98. The stock had a trading volume of 619,164 shares, compared to its average volume of 907,492. Four Corners Property Trust, Inc. has a one year low of $22.78 and a one year high of $26.96. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $2.74 billion, a P/E ratio of 22.30 and a beta of 0.80. The firm’s 50 day moving average is $24.89 and its 200 day moving average is $24.72.

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

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

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.