New York State Teachers Retirement System Sells 4,302 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

New York State Teachers Retirement System reduced its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 2.7% in the 4th quarter, Holdings Channel reports. The firm owned 156,365 shares of the financial services provider’s stock after selling 4,302 shares during the quarter. New York State Teachers Retirement System’s holdings in Four Corners Property Trust were worth $4,244,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Truvestments Capital LLC acquired a new stake in Four Corners Property Trust during the 3rd quarter worth about $51,000. Eagle Bay Advisors LLC lifted its position in shares of Four Corners Property Trust by 25.0% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,125 shares of the financial services provider’s stock worth $58,000 after buying an additional 425 shares in the last quarter. KBC Group NV lifted its position in shares of Four Corners Property Trust by 50.4% during the 4th quarter. KBC Group NV now owns 3,702 shares of the financial services provider’s stock worth $100,000 after buying an additional 1,240 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Four Corners Property Trust by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 921 shares during the period. Finally, Vestcor Inc bought a new stake in shares of Four Corners Property Trust in the 3rd quarter worth approximately $109,000. 98.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FCPT has been the subject of a number of recent research reports. Barclays reduced their price objective on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. Finally, UBS Group assumed coverage on shares of Four Corners Property Trust in a research note on Thursday, November 14th. They issued a “buy” rating and a $33.00 price target for the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.40.

Four Corners Property Trust Price Performance

FCPT stock opened at $27.69 on Friday. Four Corners Property Trust, Inc. has a 1 year low of $22.38 and a 1 year high of $30.93. The company has a market cap of $2.77 billion, a P/E ratio of 25.87 and a beta of 1.14. The firm has a 50-day moving average of $27.53 and a 200 day moving average of $28.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.11 and a quick ratio of 0.11.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.16. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. On average, sell-side analysts forecast that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Four Corners Property Trust Profile

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.