Four Corners Property Trust, Inc. $FCPT Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 52.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,599 shares of the financial services provider’s stock after purchasing an additional 38,168 shares during the period. Thrivent Financial for Lutherans owned approximately 0.11% of Four Corners Property Trust worth $3,003,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. acquired a new position in Four Corners Property Trust during the 1st quarter valued at about $14,350,000. Hudson Bay Capital Management LP grew its stake in shares of Four Corners Property Trust by 42.9% during the second quarter. Hudson Bay Capital Management LP now owns 1,443,164 shares of the financial services provider’s stock worth $38,836,000 after acquiring an additional 433,108 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Four Corners Property Trust by 23.9% during the second quarter. Balyasny Asset Management L.P. now owns 2,159,994 shares of the financial services provider’s stock valued at $58,125,000 after acquiring an additional 417,134 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Four Corners Property Trust by 45,265.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 220,931 shares of the financial services provider’s stock valued at $5,945,000 after purchasing an additional 220,444 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in Four Corners Property Trust by 957.8% in the 2nd quarter. ProShare Advisors LLC now owns 241,034 shares of the financial services provider’s stock worth $6,486,000 after purchasing an additional 218,247 shares in the last quarter. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Douglas B. Hansen acquired 1,984 shares of the stock in a transaction on Friday, October 31st. The shares were acquired at an average price of $23.64 per share, for a total transaction of $46,901.76. Following the transaction, the director owned 78,247 shares in the company, valued at approximately $1,849,759.08. This trade represents a 2.60% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Four Corners Property Trust from a “sell” rating to a “hold” rating in a research note on Sunday, October 19th. Wells Fargo & Company cut their target price on Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 25th. Evercore ISI 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 research note on Monday, December 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Tuesday, October 14th. Finally, Robert W. Baird set a $29.00 price objective on Four Corners Property Trust in a research note on Wednesday, October 29th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $28.00.

Four Corners Property Trust Trading Down 0.3%

NYSE FCPT opened at $23.28 on Monday. Four Corners Property Trust, Inc. has a 1 year low of $22.80 and a 1 year high of $29.81. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market capitalization of $2.47 billion, a PE ratio of 21.36 and a beta of 0.86. The company has a fifty day moving average of $23.84 and a 200 day moving average of $25.24.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Tuesday, October 28th. 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 $74.15 million during the quarter, compared to analyst estimates of $71.86 million. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.04%.The company’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business posted $0.43 EPS. Research analysts forecast that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a $0.3665 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.36. This represents a $1.47 dividend on an annualized basis and a yield of 6.3%. Four Corners Property Trust’s dividend payout ratio is presently 130.28%.

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.