Hsbc Holdings PLC Invests $5.17 Million in Four Corners Property Trust, Inc. $FCPT

Key Points

• HSBC Holdings purchased 210,550 shares of Four Corners Property Trust during the second quarter, valued at approximately $5.17 million and representing 0.19% of the company. Institutional investors collectively own 98.66% of FCPT.
• FCPT reported quarterly earnings of $0.45 per share, exceeding the $0.29 analyst consensus, while revenue rose 7.7% year over year to $78.42 million.
• The company declared a monthly dividend of $0.1222 per share, equivalent to an approximately 5.8% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $27.80, above the reported $25.29 share price.

Hsbc Holdings PLC purchased a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 210,550 shares of the financial services provider's stock, valued at approximately $5,169,000. Hsbc Holdings PLC owned 0.19% of Four Corners Property Trust as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Four Corners Property Trust during the second quarter valued at $490,406,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Four Corners Property Trust by 20,354.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,615,583 shares of the financial services provider's stock worth $106,435,000 after purchasing an additional 4,593,018 shares in the last quarter. Lasalle Investment Management Securities LLC acquired a new position in shares of Four Corners Property Trust during the 4th quarter worth about $32,889,000. Bank of New York Mellon Corp acquired a new position in shares of Four Corners Property Trust during the 2nd quarter worth about $25,196,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Four Corners Property Trust by 75.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,345,427 shares of the financial services provider's stock valued at $55,469,000 after buying an additional 1,010,648 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company's stock.

Four Corners Property Trust Price Performance

Shares of NYSE FCPT opened at $25.29 on Friday. The firm has a 50-day simple moving average of $25.32 and a 200-day simple moving average of $25.06. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 22.78 and a beta of 0.79. Four Corners Property Trust, Inc. has a 52 week low of $22.78 and a 52 week high of $26.86.

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 for the quarter, topping analysts' consensus estimates of $0.29 by $0.16. Four Corners Property Trust had a net margin of 38.70% and a return on equity of 7.35%. The firm had revenue of $78.42 million for the quarter, compared to analyst estimates of $79.02 million. During the same period in the previous year, the business posted $0.44 earnings per share. Four Corners Property Trust's quarterly revenue was up 7.7% on a year-over-year basis. On average, equities 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 firm also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.1222 dividend. This represents a c) dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Four Corners Property Trust's dividend payout ratio (DPR) is 132.43%.

Wall Street Analysts Forecast Growth

FCPT has been the topic of several research analyst reports. Huntington initiated coverage on Four Corners Property Trust in a report on Wednesday, July 15th. They issued an "outperform" rating and a $27.00 price objective on the stock. UBS Group reissued a "buy" rating and set a $30.00 target price on shares of Four Corners Property Trust in a report on Thursday, July 9th. Citizens Jmp restated a "market outperform" rating and issued a $28.00 target price on shares of Four Corners Property Trust in a research report on Tuesday. Jefferies Financial Group set a $28.00 price target on Four Corners Property Trust in a research note on Tuesday. Finally, Citigroup reiterated a "market outperform" rating on shares of Four Corners Property Trust in a research report on Tuesday. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Four Corners Property Trust presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

Want to see what other hedge funds are holding FCPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source