Deutsche Bank AG Acquires Shares of 619,736 Four Corners Property Trust, Inc. $FCPT

Key Points

• Deutsche Bank acquired 619,736 shares of Four Corners Property Trust during the second quarter, valued at approximately $15.2 million and representing about 0.56% of the company. Institutional investors collectively own 98.66% of FCPT.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $27.78, compared with the stock’s recent price of $25.26.
• FCPT reported quarterly EPS of $0.45, exceeding the $0.29 consensus estimate, while revenue rose 7.7% year over year to $78.42 million. The company also declared a monthly dividend of $0.1222 per share, implying an annualized yield of about 5.8%.

Deutsche Bank AG bought a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 619,736 shares of the financial services provider's stock, valued at approximately $15,215,000. Deutsche Bank AG owned approximately 0.56% of Four Corners Property Trust as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Four Corners Property Trust in the second quarter valued at approximately $2,249,000. Bank of New York Mellon Corp bought a new stake in Four Corners Property Trust during the second quarter worth $25,196,000. GSA Capital Partners LLP bought a new stake in Four Corners Property Trust during the second quarter worth $2,061,000. Handelsbanken Fonder AB boosted its position in Four Corners Property Trust by 1.8% in the second quarter. Handelsbanken Fonder AB now owns 34,095 shares of the financial services provider's stock worth $837,000 after purchasing an additional 600 shares during the last quarter. Finally, Western Wealth Management LLC purchased a new position in Four Corners Property Trust in the first quarter worth $100,000. Hedge funds and other institutional investors own 98.66% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Citigroup restated a "market outperform" rating on shares of Four Corners Property Trust in a research note on Monday, June 1st. Wells Fargo & Company boosted their price target on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the stock an "equal weight" rating in a 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. Barclays reduced their price target on shares of Four Corners Property Trust from $30.00 to $29.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 22nd. Finally, Weiss Ratings downgraded shares of Four Corners Property Trust from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.78.

Four Corners Property Trust Price Performance

Four Corners Property Trust stock opened at $25.26 on Friday. The business's 50 day simple moving average is $25.25 and its 200 day simple moving average is $25.04. Four Corners Property Trust, Inc. has a 12 month low of $22.78 and a 12 month high of $26.86. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 22.76 and a beta of 0.79. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.39.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last released 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. 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 during the quarter, compared to the consensus estimate of $79.02 million. During the same period last year, the business posted $0.44 earnings per share. The business's revenue for the quarter was up 7.7% on a year-over-year basis. 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 company also recently declared 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) 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 currently 132.43%.

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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