SG Americas Securities LLC Buys 108,041 Shares of Four Corners Property Trust, Inc. $FCPT

Key Points

• SG Americas Securities LLC increased its stake in Four Corners Property Trust by 395.7% in the first quarter, buying 108,041 additional shares and bringing its total holding to 135,344 shares worth about $3.2 million.
• Institutional ownership remains extremely high, with about 98.66% of FCPT shares held by institutional investors. Several large firms, including Vanguard, State Street, and others, also boosted their positions.
• FCPT’s latest earnings missed EPS expectations, reporting $0.28 per share versus the $0.42 consensus, even though revenue came in above estimates at $78.17 million and rose 9.4% year over year.

SG Americas Securities LLC raised its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 395.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 135,344 shares of the financial services provider's stock after buying an additional 108,041 shares during the quarter. SG Americas Securities LLC owned about 0.12% of Four Corners Property Trust worth $3,201,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Four Corners Property Trust by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 12,057,364 shares of the financial services provider's stock worth $278,043,000 after acquiring an additional 344,852 shares during the last quarter. State Street Corp increased its stake in Four Corners Property Trust by 2.7% in the fourth quarter. State Street Corp now owns 6,001,247 shares of the financial services provider's stock valued at $140,547,000 after purchasing an additional 155,966 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Four Corners Property Trust by 20,354.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,615,583 shares of the financial services provider's stock valued at $106,435,000 after purchasing an additional 4,593,018 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Four Corners Property Trust by 8.9% in the fourth quarter. Victory Capital Management Inc. now owns 4,251,112 shares of the financial services provider's stock worth $98,031,000 after purchasing an additional 349,048 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Four Corners Property Trust by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 2,852,968 shares of the financial services provider's stock worth $65,800,000 after purchasing an additional 110,791 shares during the period. 98.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FCPT has been the subject of several research analyst reports. Weiss Ratings raised shares of Four Corners Property Trust from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday. BMO Capital Markets started 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 on the stock. Citigroup reaffirmed a "market outperform" rating on shares of Four Corners Property Trust in a research note on Monday, June 1st. Barclays lifted 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. Finally, Raymond James Financial decreased their target price on Four Corners Property Trust from $29.00 to $28.00 and set an "outperform" rating for the company in a research note on Tuesday, March 17th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $28.12.

Four Corners Property Trust Stock Performance

Shares of FCPT opened at $24.56 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.15 and a current ratio of 0.15. Four Corners Property Trust, Inc. has a twelve month low of $22.78 and a twelve month high of $27.47. The firm's 50 day moving average price is $24.95 and its two-hundred day moving average price is $24.63. The firm has a market cap of $2.70 billion, a P/E ratio of 21.92 and a beta of 0.80.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its quarterly earnings data 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 firm's revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 EPS. On average, analysts forecast that Four Corners Property Trust, Inc. will post 1.76 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The company 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. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Wednesday, September 30th. Four Corners Property Trust's payout ratio is 131.25%.

Insider Activity at Four Corners Property Trust

In other news, CEO William H. Lenehan acquired 3,961 shares of Four Corners Property Trust stock in a transaction dated Tuesday, May 5th. The stock was bought at an average cost of $25.23 per share, with a total value of $99,936.03. Following the completion of the transaction, the chief executive officer directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by company 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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