Sei Investments Co. Buys 47,421 Shares of Four Corners Property Trust, Inc. $FCPT

Key Points

• Sei Investments increased its FCPT stake by 144.9% in the first quarter, purchasing 47,421 additional shares to own 80,157 shares valued at approximately $1.9 million.
• Institutional investors own 98.66% of Four Corners Property Trust, while the stock recently traded near $25.07, within its 52-week range of $22.78 to $26.86.
• FCPT declared a monthly dividend of $0.1222 per share, representing an indicated 5.9% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $27.78.

Sei Investments Co. raised its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 144.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,157 shares of the financial services provider's stock after buying an additional 47,421 shares during the quarter. Sei Investments Co. owned about 0.07% of Four Corners Property Trust worth $1,896,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Parallel Advisors LLC boosted its position in shares of Four Corners Property Trust by 80.1% in the third quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 463 shares during the period. Lazard Asset Management LLC grew its stake in Four Corners Property Trust by 1.1% during the second quarter. Lazard Asset Management LLC now owns 54,519 shares of the financial services provider's stock valued at $1,467,000 after acquiring an additional 568 shares in the last quarter. Strs Ohio grew its stake in Four Corners Property Trust by 3.3% during the fourth quarter. Strs Ohio now owns 18,700 shares of the financial services provider's stock valued at $431,000 after acquiring an additional 600 shares in the last quarter. California State Teachers Retirement System increased its holdings in 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 acquiring an additional 647 shares during the period. Finally, Maryland State Retirement & Pension System increased its holdings in Four Corners Property Trust by 4.6% during the 4th quarter. Maryland State Retirement & Pension System now owns 15,709 shares of the financial services provider's stock worth $362,000 after acquiring an additional 691 shares during the period. 98.66% of the stock is currently owned by institutional investors.

Four Corners Property Trust Trading Down 0.1%

Shares of FCPT opened at $25.07 on Monday. The firm's 50 day simple moving average is $25.17 and its 200 day simple moving average is $25.00. The company has a market capitalization of $2.75 billion, a P/E ratio of 22.58 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 Announces Dividend

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 $0.1222 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. Four Corners Property Trust's dividend payout ratio is presently 132.43%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citigroup reiterated a "market outperform" rating on shares of Four Corners Property Trust in a research note on Monday, June 1st. Wells Fargo & Company upped their price target on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the stock an "equal weight" rating in a report on Monday, June 1st. Barclays lowered their price objective on Four Corners Property Trust from $30.00 to $29.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 22nd. BMO Capital Markets initiated coverage on Four Corners Property Trust in a research note on Friday, April 17th. They set a "market perform" rating and a $27.00 price objective for the company. Finally, UBS Group restated a "buy" rating and set a $30.00 target price on shares of Four Corners Property Trust in a research report on Thursday, July 9th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.78.

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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