Four Corners Property Trust, Inc. $FCPT Stake Decreased by Boston Trust Walden Corp

Key Points

• Boston Trust Walden Corp reduced its stake in Four Corners Property Trust by 11.1% in the first quarter, selling 154,738 shares and leaving it with 1,239,360 shares valued at about $29.3 million.
• FCPT reported first-quarter earnings of $0.28 per share, missing analyst expectations of $0.42, though revenue came in above estimates at $78.17 million and rose 9.4% year over year.
• The company announced a monthly dividend of $0.1222 per share, implying a 5.8% annualized yield, while analysts currently have a consensus rating of Hold with an average price target of $28.12.

Boston Trust Walden Corp trimmed its position in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 11.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,239,360 shares of the financial services provider's stock after selling 154,738 shares during the period. Boston Trust Walden Corp owned approximately 1.13% of Four Corners Property Trust worth $29,311,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FCPT. Parallel Advisors LLC raised its position 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 in the last quarter. Lazard Asset Management LLC raised its position in shares of Four Corners Property Trust by 1.1% during the second quarter. Lazard Asset Management LLC now owns 54,519 shares of the financial services provider's stock worth $1,467,000 after acquiring an additional 568 shares during the last quarter. Strs Ohio boosted its holdings in Four Corners Property Trust by 3.3% in the fourth quarter. Strs Ohio now owns 18,700 shares of the financial services provider's stock valued at $431,000 after acquiring an additional 600 shares during the last quarter. California State Teachers Retirement System raised its holdings in Four Corners Property Trust by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 94,900 shares of the financial services provider's stock worth $2,554,000 after purchasing an additional 647 shares during the last quarter. Finally, Palisades Investment Partners LLC boosted its stake in shares of Four Corners Property Trust by 2.1% in the 4th quarter. Palisades Investment Partners LLC now owns 31,879 shares of the financial services provider's stock valued at $747,000 after purchasing an additional 653 shares during the last quarter. Institutional investors own 98.66% of the company's stock.

Insider Activity at Four Corners Property Trust

In other Four Corners Property Trust news, CEO William H. Lenehan bought 3,961 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were purchased at an average price of $25.23 per share, for a total transaction of $99,936.03. Following the acquisition, the chief executive officer owned 775,696 shares in the company, valued at approximately $19,570,810.08. This represents a 0.51% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.20% of the company's stock.

Four Corners Property Trust Price Performance

Shares of NYSE:FCPT opened at $25.08 on Friday. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.35. The stock has a market cap of $2.75 billion, a PE ratio of 22.39 and a beta of 0.80. The company's fifty day moving average is $24.93 and its 200 day moving average is $24.66. Four Corners Property Trust, Inc. has a 52 week low of $22.78 and a 52 week high of $27.40.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.14). Four Corners Property Trust had a net margin of 38.74% and a return on equity of 7.38%. The firm had revenue of $78.17 million for the quarter, compared to the consensus estimate of $73.34 million. During the same period last year, the company posted $0.44 earnings per share. The business's revenue was up 9.4% on a year-over-year basis. Research analysts anticipate that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The company 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 of this dividend 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 currently 131.25%.

Wall Street Analyst Weigh In

FCPT has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on Four Corners Property Trust from $25.00 to $26.00 and gave the company an "equal weight" rating in a report on Monday, June 1st. Weiss Ratings upgraded shares of Four Corners Property Trust from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, June 26th. Citizens Jmp raised 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 research report on Wednesday, March 25th. Raymond James Financial dropped their target price on shares of Four Corners Property Trust from $29.00 to $28.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 17th. Finally, Barclays increased their target price on shares of Four Corners Property Trust from $28.00 to $30.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Four Corners Property Trust presently has a consensus rating of "Hold" and an average price target of $28.12.

Four Corners Property Trust Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.