Four Corners Property Trust, Inc. $FCPT Shares Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System increased its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 5.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,244 shares of the financial services provider’s stock after purchasing an additional 8,079 shares during the period. New York State Teachers Retirement System owned 0.16% of Four Corners Property Trust worth $4,393,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Inspire Investing LLC raised its position in shares of Four Corners Property Trust by 2.2% during the 2nd quarter. Inspire Investing LLC now owns 17,495 shares of the financial services provider’s stock worth $471,000 after purchasing an additional 383 shares during the last quarter. CWM LLC grew its stake in Four Corners Property Trust by 15.0% in the 1st quarter. CWM LLC now owns 2,975 shares of the financial services provider’s stock worth $85,000 after acquiring an additional 389 shares during the period. Palisades Investment Partners LLC raised its holdings in Four Corners Property Trust by 1.5% in the 1st quarter. Palisades Investment Partners LLC now owns 31,762 shares of the financial services provider’s stock valued at $912,000 after acquiring an additional 459 shares during the last quarter. Meritage Portfolio Management raised its holdings in Four Corners Property Trust by 4.3% in the 2nd quarter. Meritage Portfolio Management now owns 17,262 shares of the financial services provider’s stock valued at $465,000 after acquiring an additional 714 shares during the last quarter. Finally, Yousif Capital Management LLC raised its holdings in Four Corners Property Trust by 2.0% in the 2nd quarter. Yousif Capital Management LLC now owns 37,370 shares of the financial services provider’s stock valued at $1,006,000 after acquiring an additional 716 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on FCPT shares. Raymond James Financial cut their price target on Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. Wells Fargo & Company reiterated an “equal weight” rating and issued a $27.00 price target (down from $29.00) on shares of Four Corners Property Trust in a report on Thursday, September 11th. Barclays cut their price target on Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Monday. Wall Street Zen upgraded Four Corners Property Trust from a “sell” rating to a “hold” rating in a report on Sunday. Finally, UBS Group boosted their price target on Four Corners Property Trust from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, August 15th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $28.75.

Four Corners Property Trust Stock Up 1.2%

Shares of NYSE FCPT opened at $24.69 on Tuesday. Four Corners Property Trust, Inc. has a 52-week low of $23.64 and a 52-week high of $30.12. The firm has a fifty day moving average of $25.08 and a 200-day moving average of $26.39. The stock has a market capitalization of $2.58 billion, a PE ratio of 22.86 and a beta of 0.87. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.39.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. Four Corners Property Trust had a net margin of 37.87% and a return on equity of 7.40%. The firm had revenue of $72.84 million during the quarter, compared to analysts’ expectations of $70.27 million. During the same period in the prior year, the company earned $0.43 EPS. The firm’s revenue was up 9.6% on a year-over-year basis. On average, analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Tuesday, September 30th. Four Corners Property Trust’s dividend payout ratio is 131.48%.

Insider Transactions at Four Corners Property Trust

In other news, CAO Niccole Stewart sold 3,950 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $25.30, for a total value of $99,935.00. Following the sale, the chief accounting officer owned 27,502 shares in the company, valued at approximately $695,800.60. This represents a 12.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William H. Lenehan bought 7,850 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was bought at an average price of $25.40 per share, for a total transaction of $199,390.00. Following the purchase, the chief executive officer owned 698,426 shares in the company, valued at approximately $17,740,020.40. This represents a 1.14% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

About Four Corners Property Trust

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.