Geode Capital Management LLC Has $65.80 Million Holdings in Four Corners Property Trust, Inc. $FCPT

Geode Capital Management LLC boosted its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 4.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,852,968 shares of the financial services provider’s stock after buying an additional 110,791 shares during the period. Geode Capital Management LLC owned about 2.69% of Four Corners Property Trust worth $65,800,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC raised its holdings in Four Corners Property Trust by 80.1% during the 3rd quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock worth $25,000 after buying an additional 463 shares during the period. Farther Finance Advisors LLC raised its holdings in Four Corners Property Trust by 829.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,115 shares of the financial services provider’s stock worth $26,000 after buying an additional 995 shares during the period. First Horizon Corp raised its holdings in Four Corners Property Trust by 147.4% during the 4th quarter. First Horizon Corp now owns 1,190 shares of the financial services provider’s stock worth $27,000 after buying an additional 709 shares during the period. Aster Capital Management DIFC Ltd raised its holdings in Four Corners Property Trust by 1,632.6% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the financial services provider’s stock worth $40,000 after buying an additional 1,551 shares during the period. Finally, CIBC Private Wealth Group LLC raised its holdings in Four Corners Property Trust by 136.8% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,718 shares of the financial services provider’s stock worth $66,000 after buying an additional 1,570 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Citigroup restated a “market outperform” rating on shares of Four Corners Property Trust in a report on Monday, June 1st. Weiss Ratings downgraded Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. Barclays boosted their price objective 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. 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, March 17th. Finally, Wells Fargo & Company boosted their price objective on 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. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Four Corners Property Trust presently has an average rating of “Hold” and a consensus price target of $28.13.

Insider Buying and Selling at Four Corners Property Trust

In other Four Corners Property Trust news, CEO William H. Lenehan bought 3,961 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were bought at an average price of $25.23 per share, for a total transaction of $99,936.03. Following the acquisition, the chief executive officer directly owned 775,696 shares of the company’s stock, valued at approximately $19,570,810.08. This trade represents a 0.51% 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 owned by corporate insiders.

Four Corners Property Trust Price Performance

Shares of FCPT opened at $24.49 on Tuesday. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 21.86 and a beta of 0.80. Four Corners Property Trust, Inc. has a fifty-two week low of $22.78 and a fifty-two week high of $28.11. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.15 and a quick ratio of 0.15. The business’s 50-day moving average is $24.78 and its 200-day moving average is $24.49.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.14). The business had revenue of $78.17 million during the quarter, compared to analyst estimates of $73.34 million. Four Corners Property Trust had a net margin of 38.74% and a return on equity of 7.38%. Four Corners Property Trust’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. Equities research analysts expect that Four Corners Property Trust, Inc. will post 1.75 EPS for the current fiscal year.

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.