Quantinno Capital Management LP Increases Holdings in Four Corners Property Trust, Inc. $FCPT

Quantinno Capital Management LP lifted its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 148.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,279 shares of the financial services provider’s stock after purchasing an additional 109,507 shares during the period. Quantinno Capital Management LP owned about 0.17% of Four Corners Property Trust worth $4,335,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Four Corners Property Trust by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 12,057,364 shares of the financial services provider’s stock worth $278,043,000 after buying an additional 344,852 shares during the last quarter. State Street Corp boosted its stake in Four Corners Property Trust by 2.7% in the fourth quarter. State Street Corp now owns 6,001,247 shares of the financial services provider’s stock valued at $140,547,000 after acquiring an additional 155,966 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Four Corners Property Trust by 20,354.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,615,583 shares of the financial services provider’s stock valued at $106,435,000 after acquiring an additional 4,593,018 shares during the period. Victory Capital Management Inc. grew its position in shares of Four Corners Property Trust by 8.9% during the 4th quarter. Victory Capital Management Inc. now owns 4,251,112 shares of the financial services provider’s stock valued at $98,031,000 after acquiring an additional 349,048 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Four Corners Property Trust by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 2,852,968 shares of the financial services provider’s stock worth $65,800,000 after purchasing an additional 110,791 shares during the last quarter. 98.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FCPT has been the topic of a number of research reports. Barclays lowered their price target on shares of Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 22nd. Weiss Ratings raised Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 26th. Wells Fargo & Company upped their price target on Four Corners Property Trust from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. BMO Capital Markets began coverage on Four Corners Property Trust in a research report on Friday, April 17th. They set a “market perform” rating and a $27.00 price target on the stock. Finally, Citigroup reiterated a “market outperform” rating on shares of Four Corners Property Trust in a research note on Monday, June 1st. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.78.

Four Corners Property Trust Price Performance

Four Corners Property Trust stock opened at $25.07 on Friday. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 22.58 and a beta of 0.79. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.39. The business has a 50-day simple moving average of $25.17 and a 200 day simple moving average of $25.00. Four Corners Property Trust, Inc. has a 52 week low of $22.78 and a 52 week high of $26.86.

Four Corners Property Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.1222 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 5.9%. 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.