212,239 Shares in Four Corners Property Trust, Inc. $FCPT Purchased by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management purchased 212,239 FCPT shares worth approximately $5.21 million, joining several other institutions that initiated positions in the second quarter. Institutional investors collectively own 98.66% of Four Corners Property Trust.
• FCPT reported quarterly EPS of $0.45, beating estimates of $0.29, while revenue rose 7.7% year over year to $78.42 million, slightly below analyst expectations.
• The company announced a monthly dividend of $0.1222 per share, equivalent to an annualized yield of about 5.8%. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $27.80, compared with a recent share price of $25.20.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 212,239 shares of the financial services provider's stock, valued at approximately $5,210,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.19% of Four Corners Property Trust as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in Four Corners Property Trust during the 2nd quarter worth approximately $555,000. Quantbot Technologies LP purchased a new position in shares of Four Corners Property Trust during the 2nd quarter valued at approximately $841,000. William Blair Investment Management LLC purchased a new position in shares of Four Corners Property Trust during the 2nd quarter valued at approximately $24,126,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Four Corners Property Trust during the second quarter worth approximately $323,000. Finally, Ieq Capital LLC acquired a new stake in shares of Four Corners Property Trust during the second quarter worth approximately $800,000. Institutional investors and hedge funds own 98.66% of the company's stock.

Four Corners Property Trust Price Performance

Shares of NYSE FCPT opened at $25.20 on Friday. Four Corners Property Trust, Inc. has a twelve month low of $22.78 and a twelve month 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 company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 22.70 and a beta of 0.79. The business has a 50 day simple moving average of $25.31 and a 200-day simple moving average of $25.06.

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, beating 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 in the prior year, the company posted $0.44 EPS. The business's revenue was up 7.7% compared to the same quarter last year. As a group, equities research analysts expect that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.1222 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Four Corners Property Trust's dividend payout ratio is 132.43%.

Wall Street Analyst Weigh In

FCPT has been the topic of several recent analyst reports. Weiss Ratings cut shares of Four Corners Property Trust from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Barclays decreased their price objective on shares of Four Corners Property Trust from $30.00 to $29.00 and set an "equal weight" rating for the company in a report on Wednesday, July 22nd. Wells Fargo & Company boosted their target price on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Monday, June 1st. Jefferies Financial Group set a $28.00 target price on shares of Four Corners Property Trust in a research note on Tuesday. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Four Corners Property Trust in a research report on Tuesday. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $27.80.

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.

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