Lasalle Investment Management Securities LLC Buys 1,139,493 Shares of Four Corners Property Trust, Inc. $FCPT

Key Points

• Lasalle Investment Management Securities LLC increased its stake in Four Corners Property Trust by 79.9% in the first quarter, buying 1,139,493 additional shares and bringing its total holding to 2,565,734 shares worth about $60.68 million.
• Analyst sentiment is mixed but slightly positive, with a consensus rating of Moderate Buy and an average price target of $27.78. Five analysts rate the stock a Buy and five rate it a Hold.
• Four Corners Property Trust reported Q1 EPS of $0.28, missing estimates, though revenue of $78.17 million beat expectations and rose 9.4% year over year. The company also declared a monthly dividend of $0.1222 per share, implying a 5.6% yield.

Lasalle Investment Management Securities LLC boosted its stake in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 79.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,565,734 shares of the financial services provider's stock after buying an additional 1,139,493 shares during the period. Four Corners Property Trust accounts for approximately 2.4% of Lasalle Investment Management Securities LLC's portfolio, making the stock its 16th largest position. Lasalle Investment Management Securities LLC owned 2.34% of Four Corners Property Trust worth $60,680,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. 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 worth $25,000 after acquiring an additional 463 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Four Corners Property Trust by 829.2% during 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 in the last quarter. First Horizon Corp boosted its position in shares of Four Corners Property Trust by 147.4% during the fourth quarter. First Horizon Corp now owns 1,190 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 709 shares in 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 worth $36,000 after purchasing an additional 836 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in Four Corners Property Trust in the fourth quarter worth $36,000. 98.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Citizens Jmp raised Four Corners Property Trust from a "market perform" rating to an "outperform" rating and set a $28.00 price objective for the company in a research report on Wednesday, March 25th. Weiss Ratings raised shares of Four Corners Property Trust from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, June 26th. Barclays decreased 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 note on Wednesday. BMO Capital Markets initiated coverage on shares of Four Corners Property Trust in a research report on Friday, April 17th. They set a "market perform" rating and a $27.00 price target for the company. Finally, Wells Fargo & Company boosted their price objective on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Monday, June 1st. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $27.78.

Four Corners Property Trust Stock Performance

Four Corners Property Trust stock opened at $26.32 on Thursday. Four Corners Property Trust, Inc. has a twelve month low of $22.78 and a twelve month high of $26.96. 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 company has a market capitalization of $2.89 billion, a P/E ratio of 23.50 and a beta of 0.80. The stock's 50 day moving average is $25.01 and its 200 day moving average is $24.88.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $78.17 million for the quarter, compared to analysts' expectations of $73.34 million. During the same quarter in the previous year, the firm posted $0.44 EPS. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities 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 Dividend Announcement

The business also recently declared 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 5.6%. Four Corners Property Trust's dividend payout ratio (DPR) is presently 131.25%.

Insider Activity

In related news, CEO William H. Lenehan purchased 3,961 shares of the stock in a transaction dated Tuesday, May 5th. The stock was purchased at an average price of $25.23 per share, with a total value of $99,936.03. Following the transaction, the chief executive officer directly owned 775,696 shares in the company, valued at $19,570,810.08. This trade represents a 0.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by corporate insiders.

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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