Public Employees Retirement System of Ohio Buys New Shares in Four Corners Property Trust, Inc. $FCPT

Public Employees Retirement System of Ohio bought a new position in Four Corners Property Trust, Inc. (NYSE:FCPT) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 213,140 shares of the financial services provider’s stock, valued at approximately $5,233,000.

Several other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Four Corners Property Trust during the second quarter valued at about $490,406,000. Vanguard Group Inc. lifted its stake in shares of Four Corners Property Trust by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 12,057,364 shares of the financial services provider’s stock valued at $278,043,000 after acquiring an additional 344,852 shares during the last quarter. State Street Corp lifted its stake in shares of Four Corners Property Trust by 2.7% in the 4th quarter. State Street Corp now owns 6,001,247 shares of the financial services provider’s stock valued at $140,547,000 after acquiring an additional 155,966 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Four Corners Property Trust by 20,354.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,615,583 shares of the financial services provider’s stock valued at $106,435,000 after acquiring an additional 4,593,018 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Four Corners Property Trust by 8.9% during the 4th quarter. Victory Capital Management Inc. now owns 4,251,112 shares of the financial services provider’s stock valued at $98,031,000 after acquiring an additional 349,048 shares during the period. 98.66% of the stock is owned by institutional investors.

Four Corners Property Trust Trading Down 0.3%

FCPT opened at $24.76 on Thursday. Four Corners Property Trust, Inc. has a one year low of $22.78 and a one year high of $26.86. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.14 and a quick ratio of 0.14. The business has a 50 day simple moving average of $25.32 and a two-hundred day simple moving average of $25.05. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 22.30 and a beta of 0.79.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.16. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.The firm had revenue of $78.42 million for the quarter, compared to analyst estimates of $79.02 million. During the same period last year, the company earned $0.44 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Analysts predict that Four Corners Property Trust, Inc. will post 1.76 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.1222 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 5.9%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 132.43%.

Analysts Set New Price Targets

FCPT has been the topic of a number of analyst reports. UBS Group reaffirmed a “buy” rating and issued a $30.00 price target on shares of Four Corners Property Trust in a research note on Thursday, July 9th. Citizens Jmp reissued a “market outperform” rating and set a $28.00 price objective on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. Jefferies Financial Group set a $28.00 target price on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Huntington started coverage on shares of Four Corners Property Trust in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 target price on the stock. Finally, Weiss Ratings lowered shares of Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.80.

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.