Illinois Municipal Retirement Fund Lowers Stake in Four Corners Property Trust, Inc. (NYSE:FCPT)

Illinois Municipal Retirement Fund lessened its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,618 shares of the financial services provider’s stock after selling 1,635 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.05% of Four Corners Property Trust worth $1,230,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC grew its stake in shares of Four Corners Property Trust by 12.1% in the 3rd quarter. FMR LLC now owns 9,831,411 shares of the financial services provider’s stock worth $218,159,000 after buying an additional 1,061,170 shares during the last quarter. Richard Bernstein Advisors LLC purchased a new stake in shares of Four Corners Property Trust in the third quarter worth $4,878,000. Rye Brook Capital LLC increased its holdings in shares of Four Corners Property Trust by 59.0% during the fourth quarter. Rye Brook Capital LLC now owns 421,000 shares of the financial services provider’s stock valued at $10,651,000 after acquiring an additional 156,300 shares in the last quarter. Deutsche Bank AG raised its position in shares of Four Corners Property Trust by 34.9% in the 3rd quarter. Deutsche Bank AG now owns 507,017 shares of the financial services provider’s stock worth $11,251,000 after purchasing an additional 131,262 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Four Corners Property Trust by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 10,224,604 shares of the financial services provider’s stock worth $226,884,000 after purchasing an additional 102,504 shares in the last quarter. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Price Performance

NYSE FCPT opened at $23.44 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 21.70 and a beta of 1.00. The stock has a 50-day moving average of $23.86 and a 200 day moving average of $23.60. Four Corners Property Trust, Inc. has a one year low of $20.51 and a one year high of $27.60.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data 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). Four Corners Property Trust had a net margin of 38.04% and a return on equity of 7.78%. The company had revenue of $65.14 million for the quarter, compared to analysts’ expectations of $65.23 million. During the same period in the previous year, the firm earned $0.41 earnings per share. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, sell-side analysts forecast that Four Corners Property Trust, Inc. will post 1.64 EPS for the current year.

Four Corners Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.345 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 5.89%. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 127.78%.

Wall Street Analyst Weigh In

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

Four Corners Property Trust Company Profile

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.