Louisiana State Employees Retirement System Purchases Shares of 48,700 Four Corners Property Trust, Inc. $FCPT

Key Points

• Louisiana State Employees Retirement System disclosed a new stake in Four Corners Property Trust, buying 48,700 shares valued at about $1.15 million. Other institutional investors also increased or initiated positions, and institutions now own 98.66% of the stock.
• CEO William H. Lenehan bought 3,961 shares at $25.23 each, lifting his direct holdings to 775,696 shares. Corporate insiders own about 1.20% of the company.
• FCPT reported Q1 earnings of $0.28 per share, below estimates of $0.42, while revenue came in at $78.17 million, above expectations. The company also announced a monthly dividend of $0.1222 per share, implying a 5.8% annualized yield.

Louisiana State Employees Retirement System acquired a new stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 48,700 shares of the financial services provider's stock, valued at approximately $1,152,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC increased its position in 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. 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 acquiring an additional 995 shares during the period. First Horizon Corp grew its stake in Four Corners Property Trust by 147.4% in the fourth quarter. First Horizon Corp now owns 1,190 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 709 shares during the period. Huntington National Bank increased its holdings in shares of Four Corners Property Trust by 114.1% during the fourth quarter. Huntington National Bank now owns 1,569 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 836 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of Four Corners Property Trust during the fourth quarter valued at approximately $36,000. Institutional investors own 98.66% of the company's stock.

Insider Transactions at Four Corners Property Trust

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FCPT. Barclays increased their target price on Four Corners Property Trust from $28.00 to $30.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 21st. BMO Capital Markets began coverage on shares of Four Corners Property Trust in a report on Friday, April 17th. They set a "market perform" rating and a $27.00 price objective on the stock. 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 note on Wednesday, March 25th. Raymond James Financial reduced their price objective on shares of Four Corners Property Trust from $29.00 to $28.00 and set an "outperform" rating for the company in a report on Tuesday, March 17th. Finally, Wells Fargo & Company boosted their target price on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Monday, June 1st. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $28.12.

Four Corners Property Trust Stock Down 0.1%

FCPT stock opened at $25.08 on Friday. Four Corners Property Trust, Inc. has a twelve month low of $22.78 and a twelve month high of $27.40. 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's 50 day moving average is $24.93 and its 200-day moving average is $24.66. The firm has a market capitalization of $2.75 billion, a PE ratio of 22.39 and a beta of 0.80.

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

Four Corners Property Trust Announces Dividend

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 issued a dividend of $0.1222 per share. 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 payout ratio is currently 131.25%.

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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