Four Corners Property Trust, Inc. $FCPT Shares Sold by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP reduced its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 75.7% during the third quarter, Holdings Channel reports. The firm owned 351,092 shares of the financial services provider’s stock after selling 1,092,072 shares during the period. Hudson Bay Capital Management LP’s holdings in Four Corners Property Trust were worth $8,567,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FCPT. Vanguard Group Inc. grew its position in Four Corners Property Trust by 2.1% in the third quarter. Vanguard Group Inc. now owns 11,712,512 shares of the financial services provider’s stock worth $285,785,000 after buying an additional 237,155 shares during the last quarter. State Street Corp lifted its position in shares of Four Corners Property Trust by 2.0% during the 2nd quarter. State Street Corp now owns 5,811,410 shares of the financial services provider’s stock valued at $158,408,000 after acquiring an additional 116,711 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Four Corners Property Trust by 7.2% during the 3rd quarter. Victory Capital Management Inc. now owns 3,902,064 shares of the financial services provider’s stock worth $95,210,000 after acquiring an additional 262,581 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Four Corners Property Trust by 2.6% in the 2nd quarter. Geode Capital Management LLC now owns 2,671,928 shares of the financial services provider’s stock worth $71,910,000 after acquiring an additional 68,415 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Four Corners Property Trust by 23.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,159,994 shares of the financial services provider’s stock worth $58,125,000 after acquiring an additional 417,134 shares during the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Four Corners Property Trust news, CEO William H. Lenehan bought 7,865 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were bought at an average price of $25.49 per share, for a total transaction of $200,478.85. Following the acquisition, the chief executive officer directly owned 765,845 shares of the company’s stock, valued at approximately $19,521,389.05. This trade represents a 1.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FCPT has been the subject of several analyst reports. Evercore reduced their target price on Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating for the company in a report on Monday, December 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Friday, January 9th. Raymond James Financial cut their price objective on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a report on Tuesday. Wells Fargo & Company reduced their price objective on shares of Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 25th. Finally, Citigroup reiterated a “market perform” rating on shares of Four Corners Property Trust in a report on Monday, January 5th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $27.83.

Four Corners Property Trust Price Performance

FCPT opened at $25.28 on Friday. The stock has a fifty day moving average of $25.01 and a 200-day moving average of $24.44. The firm has a market capitalization of $2.77 billion, a P/E ratio of 22.98 and a beta of 0.82. Four Corners Property Trust, Inc. has a 12-month low of $22.78 and a 12-month high of $28.98. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.36.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The business had revenue of $75.67 million for the quarter, compared to the consensus estimate of $76.04 million. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.20%.Four Corners Property Trust’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 earnings per share. Equities analysts forecast that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.3665 per share. This represents a $1.47 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Tuesday, March 31st. Four Corners Property Trust’s payout ratio is 133.64%.

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.