Freestone Grove Partners LP Buys Shares of 54,562 Four Corners Property Trust, Inc. $FCPT

Key Points

• Freestone Grove Partners purchased 54,562 shares of Four Corners Property Trust, valued at approximately $1.34 million. Institutional investors collectively own 98.66% of FCPT’s outstanding stock.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $27.80, compared with the share price of $25.29.
• FCPT reported quarterly EPS of $0.45, beating estimates of $0.29, while revenue increased 7.7% year over year. The REIT also declared a monthly dividend of $0.1222 per share, representing a 5.8% yield.

Freestone Grove Partners LP purchased a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm purchased 54,562 shares of the financial services provider's stock, valued at approximately $1,339,000.

Several other large investors have also recently made changes to their positions in the stock. Parallel Advisors LLC boosted its position in Four Corners Property Trust by 80.1% during 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 grew its stake in Four Corners Property Trust by 829.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,115 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 995 shares during the last quarter. Huntington National Bank grew its stake 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 valued at $36,000 after purchasing an additional 836 shares during the last quarter. Kestra Advisory Services LLC bought a new position in Four Corners Property Trust in the fourth quarter worth about $36,000. Finally, Bessemer Group Inc. raised its holdings in Four Corners Property Trust by 326.1% in the first quarter. Bessemer Group Inc. now owns 1,649 shares of the financial services provider's stock worth $39,000 after purchasing an additional 1,262 shares in the last quarter. 98.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FCPT shares. 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. UBS Group reiterated a "buy" rating and set a $30.00 price objective on shares of Four Corners Property Trust in a research note on Thursday, July 9th. Huntington initiated coverage on shares of Four Corners Property Trust in a research report on Wednesday, July 15th. They set an "outperform" rating and a $27.00 target price for the company. Jefferies Financial Group set a $28.00 target price on shares of Four Corners Property Trust in a research report on Tuesday. Finally, Citigroup restated a "market outperform" rating on shares of Four Corners Property Trust in a research note on Tuesday. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $27.80.

Four Corners Property Trust Trading Up 0.4%

Shares of NYSE:FCPT opened at $25.29 on Friday. The business's 50-day moving average is $25.32 and its 200 day moving average is $25.06. Four Corners Property Trust, Inc. has a 1 year low of $22.78 and a 1 year high of $26.86. The firm has a market capitalization of $2.78 billion, a P/E ratio of 22.78 and a beta of 0.79. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.14 and a quick ratio of 0.14.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.16. The company had revenue of $78.42 million during the quarter, compared to analysts' expectations of $79.02 million. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.The firm's revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $0.44 earnings per share. On average, research analysts predict that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current fiscal 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 issued a dividend of $0.1222 per share. The ex-dividend date is Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 5.8%. Four Corners Property Trust's dividend payout ratio is 131.53%.

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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