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

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Four Corners Property Trust by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 12,057,364 shares of the financial services provider’s stock worth $278,043,000 after purchasing an additional 344,852 shares during the last quarter. State Street Corp grew its holdings in Four Corners Property Trust by 2.7% in the 4th quarter. State Street Corp now owns 6,001,247 shares of the financial services provider’s stock valued at $140,547,000 after buying an additional 155,966 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Four Corners Property Trust by 20,354.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,615,583 shares of the financial services provider’s stock worth $106,435,000 after buying an additional 4,593,018 shares during the period. Victory Capital Management Inc. increased its position in Four Corners Property Trust by 8.9% in the 4th quarter. Victory Capital Management Inc. now owns 4,251,112 shares of the financial services provider’s stock worth $98,031,000 after buying an additional 349,048 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Four Corners Property Trust by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 2,852,968 shares of the financial services provider’s stock worth $65,800,000 after buying an additional 110,791 shares during the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Performance

Shares of FCPT traded up $0.27 on Friday, reaching $24.98. 619,164 shares of the stock traded hands, compared to its average volume of 907,492. The firm 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, Inc. has a 12 month low of $22.78 and a 12 month high of $26.96. The stock’s 50-day moving average price is $24.89 and its 200-day moving average price is $24.72. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.15 and a quick ratio of 0.15.

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

Four Corners Property Trust Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup reissued a “market outperform” rating on shares of Four Corners Property Trust in a research report on Monday, June 1st. BMO Capital Markets began coverage on shares of Four Corners Property Trust in a research note on Friday, April 17th. They set a “market perform” rating and a $27.00 target price for the company. Wells Fargo & Company increased their price target on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Citizens Jmp upgraded shares of Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 price objective on the stock in a report on Wednesday, March 25th. Finally, Weiss Ratings raised shares of Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 26th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $28.00.

Insiders Place Their Bets

In other Four Corners Property Trust news, CEO William H. Lenehan bought 3,961 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were acquired at an average price of $25.23 per share, with a total value of $99,936.03. Following the completion of the purchase, the chief executive officer directly owned 775,696 shares in the company, valued at $19,570,810.08. The trade was a 0.51% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by insiders.

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.