UBS Group AG Buys 49,060 Shares of Four Corners Property Trust, Inc. $FCPT

Key Points

• UBS Group AG boosted its stake in Four Corners Property Trust by 37.5% in the fourth quarter, buying 49,060 additional shares and lifting its holdings to 179,900 shares worth about $4.15 million.
• Institutional ownership in FCPT remains very high at 98.66%, with several other funds also increasing positions, including a large jump by Sumitomo Mitsui Trust Group Inc.
• The company reported quarterly earnings of $0.28 per share, missing estimates, even as revenue rose 9.4% year over year; FCPT also pays a quarterly dividend yielding about 5.8%.

UBS Group AG increased its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 37.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 179,900 shares of the financial services provider's stock after acquiring an additional 49,060 shares during the quarter. UBS Group AG owned about 0.17% of Four Corners Property Trust worth $4,148,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FCPT. B&I Capital AG lifted its position in Four Corners Property Trust by 20.5% during the third quarter. B&I Capital AG now owns 268,787 shares of the financial services provider's stock valued at $6,558,000 after purchasing an additional 45,687 shares during the last quarter. Public Sector Pension Investment Board lifted its position in Four Corners Property Trust by 18.9% during the third quarter. Public Sector Pension Investment Board now owns 407,427 shares of the financial services provider's stock valued at $9,941,000 after purchasing an additional 64,906 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Four Corners Property Trust by 20.6% during the third quarter. JPMorgan Chase & Co. now owns 611,782 shares of the financial services provider's stock valued at $14,927,000 after purchasing an additional 104,480 shares during the last quarter. Clear Trail Advisors LLC bought a new position in Four Corners Property Trust during the fourth quarter valued at $1,328,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in Four Corners Property Trust by 1,071.8% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,334,779 shares of the financial services provider's stock valued at $30,780,000 after purchasing an additional 1,220,871 shares during the last quarter. Institutional investors own 98.66% of the company's stock.

Analyst Ratings Changes

FCPT has been the subject of several research reports. Weiss Ratings upgraded shares of Four Corners Property Trust from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday. Raymond James Financial lowered their price objective on shares of Four Corners Property Trust from $29.00 to $28.00 and set an "outperform" rating for the company in a research report on Tuesday, March 17th. Barclays increased their price objective on shares of Four Corners Property Trust from $28.00 to $30.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 21st. BMO Capital Markets initiated coverage on shares of Four Corners Property Trust in a research report on Friday, April 17th. They set a "market perform" rating and a $27.00 price objective for the company. Finally, 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 for the company in a research report on Wednesday, March 25th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Four Corners Property Trust has an average rating of "Hold" and a consensus price target of $28.00.

Insider Buying and Selling at Four Corners Property Trust

In other news, CEO William H. Lenehan bought 3,961 shares of Four Corners Property Trust stock in a transaction dated Tuesday, May 5th. The shares were acquired at an average price of $25.23 per share, with a total value of $99,936.03. Following the completion of the purchase, the chief executive officer owned 775,696 shares in the company, valued at $19,570,810.08. The trade was a 0.51% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.20% of the company's stock.

Four Corners Property Trust Trading Up 0.3%

Shares of FCPT opened at $25.06 on Friday. Four Corners Property Trust, Inc. has a twelve month low of $22.78 and a twelve month high of $28.11. The company has a market cap of $2.75 billion, a P/E ratio of 22.38 and a beta of 0.83. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.35. The company's fifty day simple moving average is $24.82 and its 200-day simple moving average is $24.44.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its earnings results on Wednesday, April 29th. The financial services provider reported $0.28 earnings per share 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 firm had revenue of $78.17 million during the quarter, compared to analysts' expectations of $73.34 million. During the same period in the prior year, the company posted $0.44 EPS. The company's revenue was up 9.4% compared to the same quarter last year. As a group, analysts expect that Four Corners Property Trust, Inc. will post 1.75 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.3665 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.47 annualized dividend and a dividend yield of 5.8%. Four Corners Property Trust's dividend payout ratio is currently 131.25%.

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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