Louisiana State Employees Retirement System Reduces Stock Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

Louisiana State Employees Retirement System decreased its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 3.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,800 shares of the financial services provider’s stock after selling 1,500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Four Corners Property Trust were worth $1,313,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of FCPT. BNP Paribas Financial Markets boosted its stake in shares of Four Corners Property Trust by 11.9% in the first quarter. BNP Paribas Financial Markets now owns 45,236 shares of the financial services provider’s stock worth $1,107,000 after buying an additional 4,826 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Four Corners Property Trust by 6.9% during the first quarter. Daiwa Securities Group Inc. now owns 29,422 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 1,898 shares in the last quarter. Jennison Associates LLC boosted its position in Four Corners Property Trust by 4.9% during the first quarter. Jennison Associates LLC now owns 29,982 shares of the financial services provider’s stock worth $734,000 after purchasing an additional 1,408 shares in the last quarter. Larson Financial Group LLC boosted its position in Four Corners Property Trust by 25,000.0% during the first quarter. Larson Financial Group LLC now owns 1,004 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Texas Permanent School Fund Corp boosted its position in Four Corners Property Trust by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 79,262 shares of the financial services provider’s stock worth $1,940,000 after purchasing an additional 1,028 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Trading Down 0.6 %

FCPT opened at $27.39 on Friday. Four Corners Property Trust, Inc. has a 52 week low of $21.46 and a 52 week high of $30.93. The business has a fifty day simple moving average of $29.03 and a 200-day simple moving average of $26.47. The firm has a market cap of $2.54 billion, a P/E ratio of 25.60 and a beta of 1.10. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.43.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Wednesday, July 31st. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). The company had revenue of $66.48 million during the quarter, compared to analysts’ expectations of $63.70 million. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.82%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the business posted $0.42 earnings per share. On average, equities analysts expect that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date of this dividend was Monday, September 30th. Four Corners Property Trust’s dividend payout ratio is presently 128.97%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FCPT. Wells Fargo & Company reiterated an “overweight” rating and set a $32.00 price target (up previously from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. Evercore ISI increased their price target on Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Raymond James increased their target price on Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Finally, JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th.

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.