The Manufacturers Life Insurance Company Buys New Position in Four Corners Property Trust, Inc. $FCPT

Key Points

• The Manufacturers Life Insurance Company acquired 54,175 shares of Four Corners Property Trust, valued at approximately $1.33 million. Institutional investors collectively own 98.66% of FCPT.
• Analyst sentiment is favorable, with a consensus rating of “Moderate Buy” and an average price target of $27.90, compared with the stock’s recent price of $24.96.
• FCPT exceeded quarterly EPS expectations, reporting $0.45 versus the $0.29 consensus estimate, while revenue rose 7.7% year over year. The company also announced a monthly dividend of $0.1222 per share, representing a yield of approximately 5.9%.

The Manufacturers Life Insurance Company bought a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 54,175 shares of the financial services provider's stock, valued at approximately $1,330,000.

Several other institutional investors have also recently bought and sold shares of FCPT. Deutsche Bank AG acquired a new stake in shares of Four Corners Property Trust in the second quarter valued at approximately $15,215,000. Lasalle Investment Management Securities LLC bought a new position in Four Corners Property Trust in the fourth quarter valued at $32,889,000. Northwestern Mutual Wealth Management Co. increased its stake in Four Corners Property Trust by 20,354.6% in the 4th 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 buying an additional 4,593,018 shares during the last quarter. Legal & General Group Plc increased its stake in Four Corners Property Trust by 21.5% in the 4th quarter. Legal & General Group Plc now owns 732,656 shares of the financial services provider's stock valued at $16,895,000 after buying an additional 129,610 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Four Corners Property Trust by 7.9% during the 1st quarter. Bank of America Corp DE now owns 1,317,179 shares of the financial services provider's stock worth $31,151,000 after buying an additional 96,689 shares in the last quarter. Institutional investors own 98.66% of the company's stock.

Analyst Ratings Changes

FCPT has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Monday, June 1st. Citizens Jmp reaffirmed a "market outperform" rating and issued a $28.00 target price on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Jefferies Financial Group set a $28.00 price target on Four Corners Property Trust in a research report on Tuesday, August 25th. Barclays raised their price target on Four Corners Property Trust from $29.00 to $30.00 and gave the company an "equal weight" rating in a research note on Friday. Finally, Huntington started coverage on Four Corners Property Trust in a research report on Wednesday, July 15th. They set an "outperform" rating and a $27.00 price target on the stock. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Four Corners Property Trust currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.90.

Four Corners Property Trust Stock Up 0.2%

Shares of FCPT stock opened at $24.96 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.14 and a current ratio of 0.14. The firm's 50-day moving average is $25.31 and its 200-day moving average is $25.06. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 22.49 and a beta of 0.79. Four Corners Property Trust, Inc. has a 52-week low of $22.78 and a 52-week high of $26.86.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.16. The business had revenue of $78.42 million during the quarter, compared to analysts' expectations of $79.02 million. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.Four Corners Property Trust's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $0.44 earnings per share. Sell-side analysts predict that Four Corners Property Trust, Inc. will post 1.76 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.1222 per share. This represents a c) annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Wednesday, September 30th. Four Corners Property Trust's payout ratio is currently 131.53%.

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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