Public Employees Retirement System of Ohio Sells 32,208 Shares of Four Corners Property Trust, Inc. $FCPT

Public Employees Retirement System of Ohio trimmed its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 12.2% during the first quarter, HoldingsChannel reports. The fund owned 232,279 shares of the financial services provider’s stock after selling 32,208 shares during the period. Public Employees Retirement System of Ohio’s holdings in Four Corners Property Trust were worth $5,493,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its stake in Four Corners Property Trust by 80.1% in the 3rd quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 463 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Four Corners Property Trust by 829.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,115 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 995 shares during the period. First Horizon Corp raised its stake in shares of Four Corners Property Trust by 147.4% in the 4th quarter. First Horizon Corp now owns 1,190 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 709 shares during the period. Huntington National Bank lifted its holdings in shares of Four Corners Property Trust by 114.1% in the fourth quarter. Huntington National Bank now owns 1,569 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 836 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of Four Corners Property Trust in the fourth quarter valued at about $36,000. 98.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FCPT. BMO Capital Markets initiated coverage on Four Corners Property Trust in a research report on Friday, April 17th. They set a “market perform” rating and a $27.00 price target for the company. UBS Group reaffirmed a “buy” rating and issued a $30.00 target price on shares of Four Corners Property Trust in a report on Thursday, July 9th. Barclays cut their target price on shares of Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 22nd. Weiss Ratings upgraded Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. Finally, Huntington assumed coverage on Four Corners Property Trust in a research report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 price target on the stock. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Four Corners Property Trust presently has an average rating of “Moderate Buy” and an average target price of $27.78.

Four Corners Property Trust Trading Up 1.3%

FCPT stock opened at $26.32 on Thursday. Four Corners Property Trust, Inc. has a one year low of $22.78 and a one year high of $26.86. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 23.50 and a beta of 0.80. The company has a fifty day moving average price of $25.14 and a two-hundred day moving average price of $24.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.15 and a quick ratio of 0.15.

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, beating the consensus estimate of $0.29 by $0.16. The company had revenue of $78.42 million for the quarter, compared to analyst estimates of $79.02 million. Four Corners Property Trust had a net margin of 38.74% and a return on equity of 7.38%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 earnings per share. Equities analysts anticipate that Four Corners Property Trust, Inc. will post 1.76 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.1222 dividend. This represents a c) annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Wednesday, September 30th. Four Corners Property Trust’s dividend payout ratio is currently 131.25%.

Insider Transactions at Four Corners Property Trust

In other news, CEO William H. Lenehan acquired 3,961 shares of Four Corners Property Trust stock in a transaction dated Tuesday, May 5th. The stock was bought at an average price of $25.23 per share, for a total transaction of $99,936.03. Following the completion of the acquisition, the chief executive officer directly owned 775,696 shares in the company, valued at approximately $19,570,810.08. The trade was a 0.51% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is owned by company insiders.

Four Corners Property Trust Company 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.