Jupiter Topco LLC Takes Position in Four Corners Property Trust, Inc. $FCPT

Key Points

• Jupiter Topco LLC acquired 45,301 shares of Four Corners Property Trust in the second quarter, valued at roughly $1.11 million. Institutional investors and hedge funds collectively own 98.66% of the company.
• Four Corners reported quarterly EPS of $0.45, beating estimates of $0.29, while revenue rose 7.7% year over year to $78.42 million. Analysts expect full-year EPS of $1.76.
• The company declared a monthly dividend of $0.1222 per share, implying an annualized yield of about 5.9%. Analysts maintain a “Moderate Buy” consensus with an average price target of $27.90 versus the stock’s $24.96 price.

Jupiter Topco LLC bought a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 45,301 shares of the financial services provider's stock, valued at approximately $1,112,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its position in Four Corners Property Trust by 80.1% during the 3rd quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider's stock worth $25,000 after purchasing an additional 463 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Four Corners Property Trust by 1.1% in the 2nd quarter. Lazard Asset Management LLC now owns 54,519 shares of the financial services provider's stock valued at $1,467,000 after buying an additional 568 shares during the period. Strs Ohio lifted its holdings in shares of Four Corners Property Trust by 3.3% in the 4th quarter. Strs Ohio now owns 18,700 shares of the financial services provider's stock valued at $431,000 after buying an additional 600 shares during the period. Handelsbanken Fonder AB boosted its stake in shares of 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 buying an additional 600 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of Four Corners Property Trust by 0.7% in the second quarter. California State Teachers Retirement System now owns 94,900 shares of the financial services provider's stock worth $2,554,000 after buying an additional 647 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Performance

NYSE FCPT opened at $24.96 on Friday. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 22.49 and a beta of 0.79. The stock has a 50-day moving average of $25.31 and a 200 day moving average of $25.06. 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, Inc. has a twelve month low of $22.78 and a twelve month high of $26.86.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate 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 in the prior year, the company posted $0.44 EPS. The business's quarterly revenue was up 7.7% on a year-over-year basis. Sell-side analysts anticipate that Four Corners Property Trust, Inc. will post 1.76 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.1222 dividend. This represents a c) annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Four Corners Property Trust's payout ratio is presently 132.43%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Huntington assumed coverage on Four Corners Property Trust in a research report on Wednesday, July 15th. They set an "outperform" rating and a $27.00 price target for the company. Weiss Ratings lowered Four Corners Property Trust from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Jefferies Financial Group set a $28.00 price objective on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. Citigroup reaffirmed a "market outperform" rating on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Finally, Citizens Jmp reiterated a "market outperform" rating and issued a $28.00 target price on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Four Corners Property Trust currently has an average rating of "Moderate Buy" and a consensus price target of $27.90.

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.

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