Amalgamated Bank Has $998,000 Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Posted by Defense World Staff on Jun 7th, 2023

Amalgamated Bank raised its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT – Get Rating) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,489 shares of the financial services provider’s stock after acquiring an additional 1,417 shares during the quarter. Amalgamated Bank’s holdings in Four Corners Property Trust were worth $998,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. CWM LLC raised its holdings in shares of Four Corners Property Trust by 84.8% during the 4th quarter. CWM LLC now owns 1,133 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 520 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Four Corners Property Trust during the 2nd quarter worth about $33,000. Harbor Investment Advisory LLC boosted its stake in shares of Four Corners Property Trust by 39.2% during the 4th quarter. Harbor Investment Advisory LLC now owns 1,696 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 478 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Four Corners Property Trust by 46.2% during the 4th quarter. Signaturefd LLC now owns 2,050 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 648 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Four Corners Property Trust by 104.4% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,385 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 1,218 shares in the last quarter. 94.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Four Corners Property Trust in a report on Thursday, May 18th. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $28.33.

Four Corners Property Trust Stock Performance

FCPT opened at $26.13 on Wednesday. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.88. The stock’s 50 day moving average price is $25.89 and its two-hundred day moving average price is $26.81. The firm has a market capitalization of $2.27 billion, a P/E ratio of 21.96 and a beta of 0.93. Four Corners Property Trust, Inc. has a 12-month low of $22.67 and a 12-month high of $29.44.

Four Corners Property Trust (NYSE:FCPT – Get Rating) last announced its quarterly earnings data on Monday, May 1st. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.12). Four Corners Property Trust had a return on equity of 9.11% and a net margin of 43.12%. The company had revenue of $59.95 million during the quarter, compared to analyst estimates of $59.03 million. During the same quarter in the previous year, the business posted $0.41 EPS. The company’s revenue was up 10.2% on a year-over-year basis. On average, equities analysts forecast that Four Corners Property Trust, Inc. will post 1.61 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Friday, March 31st were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date of this dividend was Thursday, March 30th. Four Corners Property Trust’s dividend payout ratio is currently 114.29%.

Insider Activity at Four Corners Property Trust

In other news, CEO William H. Lenehan purchased 7,600 shares of the business’s stock in a transaction on Tuesday, June 6th. The stock was purchased at an average price of $26.06 per share, with a total value of $198,056.00. Following the acquisition, the chief executive officer now directly owns 556,549 shares in the company, valued at approximately $14,503,666.94. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 1.10% of the stock is owned by corporate insiders.

About Four Corners Property Trust

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Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.