5 Best Dividend Stocks to Buy According to Billionaire Michael Hintze

Four Corners Property Trust, Inc. (NYSE: FCPT) is a real estate investment trust based in California, and operating in the acquisition and leasing of restaurant properties. The company ranks 4th on our list of the best dividend stocks to buy according to billionaire Michael Hintze.

On June 10th, Four Corners Property Trust, Inc. (NYSE: FCPT) acquired two properties worth $2.7 million in New York, alongside the DaVita Kidney Care property for $1.1 million. The company also released its first-quarter of 2021 reports, in which it was revealed that its EPS stood at $0.26. They also revealed a $46.75 million revenue and $20.58 million in earnings. The stock gained 1.16% year to date.

Out of the 866 hedge funds tracked by Insider Monkey, 18 held shares in Four Corners Property Trust, Inc. (NYSE: FCPT) in Q121, valued at roughly $115 million. This is compared to 12 hedge fund holders in the previous quarter with stakes worth a total of about $74 million.

Merion Road Capital Management mentioned Four Corners Property Trust, Inc. (NYSE: FCPT) in its investor letter for the fourth quarter of 2020. Here’s what they said:

“Four Corners (“FCPT”) was a large detractor for the year as I completely exited our position in March. As a REIT, FCPT operates with relatively high leverage (though within the REIT universe FCPT is conservatively financed). This perceived risk was heightened by their focus on restaurant properties. Retrospectively I should have held or added to our exposure. But part of my job is risk management, and I simply did not feel comfortable holding it given the uncertainties at the time.”