Ieq Capital LLC Invests $800,000 in Four Corners Property Trust, Inc. $FCPT

Ieq Capital LLC bought a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) in the second quarter, Holdings Channel.com reports. The institutional investor bought 32,597 shares of the financial services provider’s stock, valued at approximately $800,000.

A number of other large investors have also recently bought and sold shares of FCPT. Parallel Advisors LLC increased its holdings in Four Corners Property Trust by 80.1% in 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. Lazard Asset Management LLC lifted its stake in Four Corners Property Trust by 1.1% during the 2nd quarter. Lazard Asset Management LLC now owns 54,519 shares of the financial services provider’s stock valued at $1,467,000 after acquiring an additional 568 shares during the period. Strs Ohio lifted its stake in Four Corners Property Trust by 3.3% during the 4th quarter. Strs Ohio now owns 18,700 shares of the financial services provider’s stock valued at $431,000 after acquiring an additional 600 shares during the period. Handelsbanken Fonder AB boosted its holdings in shares of Four Corners Property Trust by 1.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 34,095 shares of the financial services provider’s stock valued at $837,000 after acquiring an additional 600 shares during the last quarter. Finally, California State Teachers Retirement System boosted its holdings in shares of Four Corners Property Trust by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 94,900 shares of the financial services provider’s stock valued at $2,554,000 after acquiring an additional 647 shares during the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Price Performance

Shares of NYSE FCPT opened at $25.20 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.14 and a quick ratio of 0.14. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 22.70 and a beta of 0.79. The firm’s 50 day simple moving average is $25.31 and its 200-day simple moving average is $25.06. Four Corners Property Trust, Inc. has a 12 month low of $22.78 and a 12 month high of $26.86.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.16. Four Corners Property Trust had a net margin of 38.70% and a return on equity of 7.35%. The firm had revenue of $78.42 million during the quarter, compared to analysts’ expectations of $79.02 million. During the same period in the previous year, the business posted $0.44 EPS. The business’s revenue was up 7.7% compared to the same quarter last year. Analysts expect that Four Corners Property Trust, Inc. will post 1.76 EPS for the current year.

Four Corners Property Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.1222 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 5.8%. Four Corners Property Trust’s payout ratio is presently 132.43%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FCPT shares. UBS Group reissued a “buy” rating and set a $30.00 target price on shares of Four Corners Property Trust in a report on Thursday, July 9th. 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. Citizens Jmp reaffirmed a “market outperform” rating and set a $28.00 price target on shares of Four Corners Property Trust in a research report on Tuesday. Jefferies Financial Group set a $28.00 price objective on Four Corners Property Trust in a research note on Tuesday. Finally, Weiss Ratings cut Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.80.

Four Corners Property Trust 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.