B&I Capital AG Purchases 39,450 Shares of Four Corners Property Trust, Inc. $FCPT

Key Points

• B&I Capital AG increased its stake in Four Corners Property Trust by 12.3% in the first quarter, buying 39,450 additional shares and bringing its total holding to 361,237 shares worth about $8.54 million.
• FCPT reported mixed quarterly results: earnings of $0.28 per share missed analyst expectations of $0.42, while revenue of $78.17 million beat estimates and rose 9.4% year over year.
• The company announced a monthly dividend of $0.1222 per share, implying a 5.6% annualized yield, while analysts currently rate the stock a “Moderate Buy” with a consensus target price of $27.89.

B&I Capital AG increased its position in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 12.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 361,237 shares of the financial services provider's stock after acquiring an additional 39,450 shares during the quarter. Four Corners Property Trust comprises about 2.9% of B&I Capital AG's investment portfolio, making the stock its 14th biggest position. B&I Capital AG owned about 0.33% of Four Corners Property Trust worth $8,543,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FCPT. Vanguard Group Inc. increased its position in Four Corners Property Trust by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 12,057,364 shares of the financial services provider's stock worth $278,043,000 after buying an additional 344,852 shares during the period. State Street Corp boosted its position in shares of Four Corners Property Trust by 2.7% in the fourth quarter. State Street Corp now owns 6,001,247 shares of the financial services provider's stock valued at $140,547,000 after acquiring an additional 155,966 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Four Corners Property Trust by 20,354.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,615,583 shares of the financial services provider's stock valued at $106,435,000 after acquiring an additional 4,593,018 shares during the period. Victory Capital Management Inc. grew its stake in shares of Four Corners Property Trust by 8.9% in the fourth quarter. Victory Capital Management Inc. now owns 4,251,112 shares of the financial services provider's stock worth $98,031,000 after acquiring an additional 349,048 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Four Corners Property Trust by 4.0% in 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 acquiring an additional 110,791 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company's stock.

Four Corners Property Trust Stock Performance

Shares of NYSE FCPT opened at $26.41 on Friday. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 23.58 and a beta of 0.80. Four Corners Property Trust, Inc. has a one year low of $22.78 and a one year high of $26.96. The business has a fifty day simple moving average of $24.89 and a 200 day simple moving average of $24.79. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.35.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) 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). Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.The business had revenue of $78.17 million for the quarter, compared to analyst estimates of $73.34 million. During the same quarter in the prior year, the firm earned $0.44 EPS. The firm's quarterly revenue was up 9.4% on a year-over-year basis. Sell-side analysts expect that Four Corners Property Trust, Inc. will post 1.76 EPS for the current 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 5.6%. The ex-dividend date is Wednesday, September 30th. Four Corners Property Trust's payout ratio is 131.25%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FCPT shares. 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. UBS Group reissued a "buy" rating and issued a $30.00 price target on shares of Four Corners Property Trust in a report on Thursday, July 9th. Citigroup restated a "market outperform" rating on shares of Four Corners Property Trust in a research 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. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $27.89.

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.

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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