State of Alaska Department of Revenue Has $2.85 Million Stock Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

State of Alaska Department of Revenue lowered its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 0.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,186 shares of the financial services provider’s stock after selling 845 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.11% of Four Corners Property Trust worth $2,846,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Larson Financial Group LLC lifted its holdings in shares of Four Corners Property Trust by 25,000.0% in the first quarter. Larson Financial Group LLC now owns 1,004 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 1,000 shares in the last quarter. Covestor Ltd raised its position in Four Corners Property Trust by 23.2% during the first quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock valued at $61,000 after buying an additional 470 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Four Corners Property Trust by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock valued at $106,000 after buying an additional 921 shares during the period. Blue Trust Inc. lifted its stake in Four Corners Property Trust by 1,469.1% in the 2nd quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 3,467 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Four Corners Property Trust by 24.0% during the 3rd quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock worth $123,000 after acquiring an additional 814 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Price Performance

NYSE FCPT opened at $27.56 on Friday. The company has a 50 day moving average price of $29.02 and a two-hundred day moving average price of $26.47. Four Corners Property Trust, Inc. has a 12-month low of $20.89 and a 12-month high of $30.93. The stock has a market capitalization of $2.54 billion, a PE ratio of 25.76 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 issued its quarterly earnings data 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). Four Corners Property Trust had a return on equity of 7.72% and a net margin of 37.01%. The business had revenue of $66.48 million during the quarter, compared to the consensus estimate of $63.70 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities analysts predict that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date was Monday, September 30th. Four Corners Property Trust’s dividend payout ratio is 128.97%.

Analysts Set New Price Targets

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

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.