Mitsubishi UFJ Asset Management Co. Ltd. Buys Shares of 91,602 Four Corners Property Trust, Inc. $FCPT

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 91,602 shares of the financial services provider’s stock, valued at approximately $2,249,000.

Several other large investors have also modified their holdings of the stock. Bank of New York Mellon Corp purchased a new position in Four Corners Property Trust in the 2nd quarter valued at $25,196,000. GSA Capital Partners LLP purchased a new position in Four Corners Property Trust during the 2nd quarter worth $2,061,000. Handelsbanken Fonder AB lifted its stake 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 worth $837,000 after acquiring an additional 600 shares during the period. Western Wealth Management LLC acquired a new stake in shares of Four Corners Property Trust in the 1st quarter worth $100,000. Finally, Bank of America Corp DE boosted its holdings in shares of Four Corners Property Trust by 7.9% in the first quarter. Bank of America Corp DE now owns 1,317,179 shares of the financial services provider’s stock valued at $31,151,000 after acquiring an additional 96,689 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Analyst Ratings Changes

FCPT has been the topic of a number of recent analyst reports. UBS Group reiterated a “buy” rating and set a $30.00 price target on shares of Four Corners Property Trust in a research note on Thursday, July 9th. Huntington began coverage on shares of Four Corners Property Trust in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 price objective for the company. Wells Fargo & Company lifted their price objective on Four Corners Property Trust from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Barclays dropped their target price on Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 22nd. Finally, Weiss Ratings downgraded Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.78.

Four Corners Property Trust Stock Down 0.5%

Shares of NYSE FCPT opened at $25.26 on Friday. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 22.76 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. The firm has a 50-day moving average price of $25.25 and a 200 day moving average price of $25.04. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.39.

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

Four Corners Property Trust Announces Dividend

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

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.