Arizona State Retirement System Acquires 539 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Arizona State Retirement System boosted its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 2.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,318 shares of the financial services provider’s stock after purchasing an additional 539 shares during the quarter. Arizona State Retirement System’s holdings in Four Corners Property Trust were worth $641,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its position in shares of Four Corners Property Trust by 3.4% during the second quarter. PNC Financial Services Group Inc. now owns 11,786 shares of the financial services provider’s stock worth $299,000 after acquiring an additional 388 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Four Corners Property Trust by 2.0% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 22,919 shares of the financial services provider’s stock valued at $554,000 after purchasing an additional 442 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Four Corners Property Trust by 7.0% in the second quarter. Ameritas Investment Partners Inc. now owns 7,162 shares of the financial services provider’s stock worth $182,000 after purchasing an additional 466 shares during the last quarter. Strs Ohio lifted its position in shares of Four Corners Property Trust by 2.8% in the third quarter. Strs Ohio now owns 18,300 shares of the financial services provider’s stock worth $406,000 after buying an additional 500 shares in the last quarter. Finally, Prospector Partners LLC boosted its stake in Four Corners Property Trust by 3.2% during the fourth quarter. Prospector Partners LLC now owns 16,668 shares of the financial services provider’s stock valued at $432,000 after buying an additional 522 shares during the last quarter. 98.66% of the stock is owned by hedge funds and other institutional investors.

Four Corners Property Trust Trading Up 0.4 %

Shares of NYSE FCPT opened at $22.65 on Friday. Four Corners Property Trust, Inc. has a 1-year low of $20.51 and a 1-year high of $27.60. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.12 and a quick ratio of 0.12. The business’s 50 day moving average is $23.83 and its two-hundred day moving average is $23.53. The stock has a market capitalization of $2.08 billion, a P/E ratio of 20.97 and a beta of 1.00.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Thursday, February 15th. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.13). The company had revenue of $65.14 million for the quarter, compared to the consensus estimate of $65.23 million. Four Corners Property Trust had a net margin of 38.04% and a return on equity of 7.78%. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 EPS. As a group, research analysts expect that Four Corners Property Trust, Inc. will post 1.64 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 6.09%. The ex-dividend date of this dividend was Wednesday, March 27th. Four Corners Property Trust’s dividend payout ratio is currently 127.78%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wells Fargo & Company lifted their price objective on Four Corners Property Trust from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. Raymond James decreased their price target on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, January 8th.

About Four Corners Property Trust

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.