Northwestern Mutual Wealth Management Co. Has $106.44 Million Stake in Four Corners Property Trust, Inc. $FCPT

Key Points

• Northwestern Mutual Wealth Management sharply increased its stake in Four Corners Property Trust, owning 4.62 million shares worth about $106.4 million after a huge fourth-quarter purchase.
• Four Corners Property Trust reported Q1 earnings of $0.28 per share, missing estimates, though revenue came in at $78.17 million and rose 9.4% year over year.
• The company continues to support income investors with a quarterly dividend of $0.3665, equal to a 6.0% yield, while Wall Street currently rates the stock a consensus Hold with a $28 average price target.

Northwestern Mutual Wealth Management Co. increased its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 20,354.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,615,583 shares of the financial services provider's stock after acquiring an additional 4,593,018 shares during the period. Northwestern Mutual Wealth Management Co. owned about 4.35% of Four Corners Property Trust worth $106,435,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC raised its holdings in shares of Four Corners Property Trust by 80.1% during the third 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 during the period. Farther Finance Advisors LLC raised its holdings 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 worth $26,000 after acquiring an additional 995 shares during the period. First Horizon Corp raised its holdings 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 worth $27,000 after acquiring an additional 709 shares during the period. Aster Capital Management DIFC Ltd raised its holdings in shares of Four Corners Property Trust by 1,632.6% during the third quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the financial services provider's stock worth $40,000 after acquiring an additional 1,551 shares during the period. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Four Corners Property Trust by 136.8% during the third quarter. CIBC Private Wealth Group LLC now owns 2,718 shares of the financial services provider's stock worth $66,000 after acquiring an additional 1,570 shares during the period. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Four Corners Property Trust

In other Four Corners Property Trust news, CEO William H. Lenehan purchased 3,961 shares of the stock in a transaction on Tuesday, May 5th. The shares were purchased at an average cost of $25.23 per share, for a total transaction of $99,936.03. Following the purchase, the chief executive officer owned 775,696 shares of the company's stock, valued at approximately $19,570,810.08. This represents a 0.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FCPT shares. BMO Capital Markets started 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 upgraded 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 report on Wednesday, March 25th. Barclays raised their price objective on shares of 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. Raymond James Financial dropped their price objective on shares of Four Corners Property Trust from $29.00 to $28.00 and set an "outperform" rating on the stock in a report on Tuesday, March 17th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Four Corners Property Trust in a research note on Wednesday, April 8th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $28.00.

Four Corners Property Trust Stock Down 0.2%

Shares of FCPT stock opened at $24.48 on Friday. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.35. Four Corners Property Trust, Inc. has a 1 year low of $22.78 and a 1 year high of $28.11. The firm's fifty day moving average price is $24.89 and its two-hundred day moving average price is $24.40. The firm has a market capitalization of $2.69 billion, a P/E ratio of 21.86 and a beta of 0.83.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued 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). Four Corners Property Trust had a net margin of 38.74% and a return on equity of 7.38%. The business had revenue of $78.17 million during the quarter, compared to analyst estimates of $73.34 million. During the same quarter in the previous year, the firm posted $0.44 earnings per share. The firm's quarterly revenue was up 9.4% on a year-over-year basis. On average, equities analysts predict that Four Corners Property Trust, Inc. will post 1.75 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a $0.3665 dividend. This represents a $1.47 annualized dividend and a yield of 6.0%. The ex-dividend date was Tuesday, March 31st. Four Corners Property Trust's payout ratio is presently 131.25%.

Four Corners Property Trust Company 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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