105,267 Shares in Four Corners Property Trust, Inc. $FCPT Purchased by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP purchased 105,267 shares of Four Corners Property Trust during the second quarter, a stake valued at approximately $2.584 million. Institutional investors collectively own 98.66% of FCPT.
• FCPT reported quarterly EPS of $0.45, exceeding the $0.29 analyst consensus, while revenue rose 7.7% year over year to $78.42 million. The stock opened at $24.76, near its 50-day and 200-day moving averages.
• The company declared a monthly dividend of $0.1222 per share, implying a 5.9% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $27.80.

Corient Private Wealth LP purchased a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 105,267 shares of the financial services provider's stock, valued at approximately $2,584,000. Corient Private Wealth LP owned approximately 0.10% of Four Corners Property Trust as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. 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 valued at $25,000 after purchasing an additional 463 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Four Corners Property Trust by 829.2% during the 4th 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 during the last quarter. Huntington National Bank grew its position in 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 in the last quarter. Kestra Advisory Services LLC bought a new position in Four Corners Property Trust in the fourth quarter valued at $36,000. Finally, Bessemer Group Inc. raised its position in Four Corners Property Trust by 326.1% during the first quarter. Bessemer Group Inc. now owns 1,649 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 1,262 shares in the last quarter. Institutional investors own 98.66% of the company's stock.

Four Corners Property Trust Trading Down 0.3%

NYSE FCPT opened at $24.76 on Thursday. Four Corners Property Trust, Inc. has a 1-year low of $22.78 and a 1-year high of $26.86. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.39. The stock has a 50-day moving average of $25.32 and a 200-day moving average of $25.05. The firm has a market cap of $2.72 billion, a PE ratio of 22.30 and a beta of 0.79.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.16. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.The business had revenue of $78.42 million for the quarter, compared to analyst estimates of $79.02 million. During the same period last year, the company earned $0.44 EPS. Four Corners Property Trust's revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Four Corners Property Trust, Inc. will post 1.76 EPS 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. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.1222 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Four Corners Property Trust's dividend payout ratio is 132.43%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FCPT. Jefferies Financial Group set a $28.00 price objective on Four Corners Property Trust in a report on Tuesday, August 25th. Citizens Jmp reaffirmed a "market outperform" rating and issued a $28.00 target price on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. Citigroup reissued a "market outperform" rating on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. Wells Fargo & Company upped their price objective on shares of 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 initiated coverage on shares of Four Corners Property Trust in a report on Wednesday, July 15th. They set an "outperform" rating and a $27.00 target price on the stock. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently 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.

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