Four Corners Property Trust, Inc. $FCPT Shares Sold by Citigroup Inc.

Citigroup Inc. reduced its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 37.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 92,452 shares of the financial services provider’s stock after selling 56,502 shares during the quarter. Citigroup Inc. owned about 0.09% of Four Corners Property Trust worth $2,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rye Brook Capital LLC boosted its holdings in Four Corners Property Trust by 0.4% in the third quarter. Rye Brook Capital LLC now owns 123,100 shares of the financial services provider’s stock worth $3,004,000 after purchasing an additional 500 shares during the period. Arizona State Retirement System increased its stake in Four Corners Property Trust by 1.9% during the third quarter. Arizona State Retirement System now owns 29,730 shares of the financial services provider’s stock valued at $725,000 after purchasing an additional 554 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Four Corners Property Trust by 3.1% during the second quarter. Bank of Montreal Can now owns 18,912 shares of the financial services provider’s stock worth $509,000 after purchasing an additional 568 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Four Corners Property Trust by 1.1% during the second quarter. Lazard Asset Management LLC now owns 54,519 shares of the financial services provider’s stock worth $1,467,000 after purchasing an additional 568 shares during the period. Finally, California State Teachers Retirement System lifted its position 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 worth $2,554,000 after buying an additional 647 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Insider Buying and Selling

In other news, CEO William H. Lenehan purchased 7,865 shares of the company’s stock in a transaction on Friday, March 6th. The shares were bought at an average price of $25.49 per share, for a total transaction of $200,478.85. Following the completion of the purchase, the chief executive officer owned 765,845 shares of the company’s stock, valued at $19,521,389.05. This trade represents a 1.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

FCPT has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Four Corners Property Trust in a report on Friday, January 9th. Wells Fargo & Company cut their target price on shares of Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 25th. Citigroup restated a “market perform” rating on shares of Four Corners Property Trust in a research note on Monday, January 5th. Finally, Evercore lowered 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 report on Monday, December 15th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $28.00.

Four Corners Property Trust Stock Performance

FCPT stock opened at $25.66 on Friday. Four Corners Property Trust, Inc. has a 1 year low of $22.78 and a 1 year high of $29.81. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 23.33 and a beta of 0.82. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.13 and a current ratio of 0.13. The stock’s fifty day moving average is $24.62 and its two-hundred day moving average is $24.45.

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

Four Corners Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a $0.3665 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.47 annualized dividend and a yield of 5.7%. Four Corners Property Trust’s dividend payout ratio is 133.64%.

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.