Four Corners Property Trust, Inc. $FCPT Shares Acquired by Callodine Capital Management LP

Callodine Capital Management LP lifted its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 19.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,565,607 shares of the financial services provider’s stock after buying an additional 256,325 shares during the quarter. Four Corners Property Trust makes up 2.6% of Callodine Capital Management LP’s investment portfolio, making the stock its 14th largest holding. Callodine Capital Management LP’s holdings in Four Corners Property Trust were worth $37,027,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in Four Corners Property Trust by 80.1% during the 3rd quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 463 shares during the period. Farther Finance Advisors LLC grew its position in Four Corners Property Trust by 829.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,115 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 995 shares in the last quarter. First Horizon Corp grew its position in Four Corners Property Trust by 147.4% in the 4th quarter. First Horizon Corp now owns 1,190 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 709 shares in the last quarter. Huntington National Bank increased its stake in Four Corners Property Trust by 114.1% during the fourth quarter. Huntington National Bank now owns 1,569 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 836 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in Four Corners Property Trust during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 98.66% of the company’s stock.

Insider Activity at Four Corners Property Trust

In other news, CEO William H. Lenehan bought 3,961 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was purchased at an average price of $25.23 per share, for a total transaction of $99,936.03. Following the completion of the purchase, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on FCPT shares. Huntington initiated coverage on shares of Four Corners Property Trust in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 price objective for the company. Citigroup restated a “market outperform” rating on shares of Four Corners Property Trust in a report on Monday, June 1st. Weiss Ratings raised shares of Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. UBS Group reiterated a “buy” rating and set a $30.00 target price on shares of Four Corners Property Trust in a report on Thursday, July 9th. Finally, Wells Fargo & Company raised 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 research report on Monday, June 1st. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Four Corners Property Trust presently has an average rating of “Moderate Buy” and a consensus price target of $27.78.

Four Corners Property Trust Price Performance

FCPT stock opened at $26.07 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.15 and a quick ratio of 0.15. The firm has a market capitalization of $2.86 billion, a P/E ratio of 23.28 and a beta of 0.80. The business’s 50-day moving average is $25.07 and its two-hundred day moving average is $24.90. Four Corners Property Trust, Inc. has a 1 year low of $22.78 and a 1 year high of $26.86.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data 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 return on equity of 7.38% and a net margin of 38.74%.The company had revenue of $78.17 million for the quarter, compared to analyst estimates of $73.34 million. During the same period in the prior year, the firm posted $0.44 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. Analysts anticipate 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 company also recently disclosed 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 5.6%. The ex-dividend date of this dividend is Wednesday, September 30th. Four Corners Property Trust’s payout ratio is 131.25%.

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.