Odyssean LLC Purchases New Holdings in Four Corners Property Trust, Inc. $FCPT

Odyssean LLC purchased a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 43,706 shares of the financial services provider’s stock, valued at approximately $1,073,000.

Other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC boosted its holdings in shares of Four Corners Property Trust by 80.1% in the 3rd quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock valued at $25,000 after buying an additional 463 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Four Corners Property Trust by 829.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,115 shares of the financial services provider’s stock worth $26,000 after buying an additional 995 shares during the last quarter. Huntington National Bank raised its position 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 acquiring an additional 836 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Four Corners Property Trust during the fourth quarter worth $36,000. Finally, Bessemer Group Inc. lifted its stake in Four Corners Property Trust by 326.1% in the first quarter. Bessemer Group Inc. now owns 1,649 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 1,262 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Price Performance

NYSE:FCPT opened at $25.33 on Thursday. The company has a market cap of $2.78 billion, a P/E ratio of 22.82 and a beta of 0.79. The firm’s fifty day moving average price is $25.29 and its two-hundred day moving average price is $25.06. Four Corners Property Trust, Inc. has a one year low of $22.78 and a one year high of $26.86. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.14 and a quick ratio of 0.14.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.16. The company had revenue of $78.42 million during 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 quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 EPS. Equities analysts expect that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. UBS Group restated a “buy” rating and set a $30.00 price objective on shares of Four Corners Property Trust in a research note on Thursday, July 9th. Jefferies Financial Group set a $28.00 target price on shares of Four Corners Property Trust in a research note on Tuesday. Weiss Ratings downgraded Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Wells Fargo & Company upped their price objective on Four Corners Property Trust from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Finally, Huntington began coverage on Four Corners Property Trust in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 price objective for the company. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $27.80.

Four Corners Property Trust 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.