Mitsubishi UFJ Asset Management Co. Ltd. Invests $2.25 Million in Four Corners Property Trust, Inc. $FCPT

Key Points

• Mitsubishi UFJ Asset Management acquired 91,602 shares of Four Corners Property Trust valued at approximately $2.25 million, giving it a 0.08% stake. Institutional investors collectively own 98.66% of the company.
• Analysts maintain a generally positive outlook, with five Buy and five Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $27.78.
• Four Corners reported quarterly earnings of $0.45 per share, beating estimates by $0.16, while revenue rose 7.7% year over year. The company also declared a monthly dividend of $0.1222 per share, representing an indicated yield of about 5.8%.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 91,602 shares of the financial services provider's stock, valued at approximately $2,249,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.08% of Four Corners Property Trust as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its holdings 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 acquiring an additional 463 shares in the last quarter. Lazard Asset Management LLC raised 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 purchasing an additional 568 shares in the last quarter. Strs Ohio raised 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 purchasing an additional 600 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Four Corners Property Trust by 1.8% during the 2nd quarter. Handelsbanken Fonder AB now owns 34,095 shares of the financial services provider's stock worth $837,000 after purchasing an additional 600 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of Four Corners Property Trust by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 94,900 shares of the financial services provider's stock worth $2,554,000 after purchasing an additional 647 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on FCPT. Barclays dropped their target price on Four Corners Property Trust from $30.00 to $29.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 22nd. Wells Fargo & Company upped their price objective on 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. Weiss Ratings downgraded Four Corners Property Trust from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Huntington began 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. Finally, Citigroup reissued a "market outperform" rating on shares of Four Corners Property Trust in a research report on Monday, June 1st. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $27.78.

Four Corners Property Trust Stock Performance

NYSE FCPT opened at $25.26 on Friday. The company has a fifty day moving average of $25.25 and a two-hundred day moving average of $25.04. The company has a market capitalization of $2.77 billion, a PE ratio of 22.76 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, Inc. has a 1 year low of $22.78 and a 1 year high of $26.86.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.16. The business had revenue of $78.42 million during the quarter, compared to the consensus estimate of $79.02 million. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.The company's revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 earnings per share. As a group, analysts expect that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.1222 per share. This represents a c) annualized dividend 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 presently 132.43%.

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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