Allianz Asset Management GmbH Reduces Position in Four Corners Property Trust, Inc. $FCPT

Allianz Asset Management GmbH decreased its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 75.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,174 shares of the financial services provider’s stock after selling 43,337 shares during the quarter. Allianz Asset Management GmbH’s holdings in Four Corners Property Trust were worth $346,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FCPT. State Street Corp increased its holdings in Four Corners Property Trust by 2.0% during the 2nd quarter. State Street Corp now owns 5,811,410 shares of the financial services provider’s stock worth $158,408,000 after purchasing an additional 116,711 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Four Corners Property Trust by 2.6% during the second quarter. Geode Capital Management LLC now owns 2,671,928 shares of the financial services provider’s stock worth $71,910,000 after buying an additional 68,415 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Four Corners Property Trust by 23.9% in the second quarter. Balyasny Asset Management L.P. now owns 2,159,994 shares of the financial services provider’s stock worth $58,125,000 after buying an additional 417,134 shares during the last quarter. Hudson Bay Capital Management LP increased its stake in shares of Four Corners Property Trust by 42.9% in 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 buying an additional 433,108 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in Four Corners Property Trust by 6.8% in the second quarter. Marshall Wace LLP now owns 1,105,522 shares of the financial services provider’s stock valued at $29,750,000 after acquiring an additional 70,211 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on FCPT shares. Barclays decreased their price objective on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Monday, October 20th. Evercore reduced their price target on shares of Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating on the stock in a research report on Monday, December 15th. Wall Street Zen raised Four Corners Property Trust from a “sell” rating to a “hold” rating in a report on Sunday, October 19th. Robert W. Baird set a $29.00 price objective on Four Corners Property Trust in a research note on Wednesday, October 29th. Finally, Wells Fargo & Company decreased their target price on Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 25th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $28.00.

Four Corners Property Trust Stock Performance

Shares of NYSE FCPT opened at $24.35 on Friday. The company has a quick ratio of 0.12, a current ratio of 0.13 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average price is $23.98 and its two-hundred day moving average price is $24.46. Four Corners Property Trust, Inc. has a 52-week low of $22.78 and a 52-week high of $29.81. The stock has a market capitalization of $2.58 billion, a P/E ratio of 22.13 and a beta of 0.83.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, February 11th. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.20%.The company had revenue of $75.67 million during the quarter, compared to analyst estimates of $76.04 million. During the same period in the prior year, the company earned $0.44 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

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.