Public Sector Pension Investment Board Purchases 16,767 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Public Sector Pension Investment Board grew its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 9.0% in the second quarter, HoldingsChannel.com reports. The firm owned 202,401 shares of the financial services provider’s stock after acquiring an additional 16,767 shares during the period. Public Sector Pension Investment Board’s holdings in Four Corners Property Trust were worth $4,993,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Covestor Ltd lifted its stake in shares of Four Corners Property Trust by 23.2% during the 1st 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 in the last quarter. Arizona State Retirement System raised its holdings in Four Corners Property Trust by 3.5% during the second quarter. Arizona State Retirement System now owns 25,753 shares of the financial services provider’s stock valued at $635,000 after acquiring an additional 863 shares during the period. Larson Financial Group LLC lifted its position 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 acquiring an additional 1,000 shares in the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Four Corners Property Trust by 1.3% in 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 acquiring an additional 1,028 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Four Corners Property Trust by 8.2% during the second quarter. Van ECK Associates Corp now owns 14,037 shares of the financial services provider’s stock worth $346,000 after purchasing an additional 1,059 shares in the last quarter. 98.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FCPT has been the topic of several research analyst reports. Wells Fargo & Company raised shares of Four Corners Property Trust to a “strong-buy” rating in a report on Monday, August 12th. Evercore ISI boosted their price target on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Finally, Raymond James boosted their target price on 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. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.00.

Four Corners Property Trust Price Performance

Four Corners Property Trust stock opened at $29.45 on Friday. Four Corners Property Trust, Inc. has a 52-week low of $20.51 and a 52-week high of $30.93. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.43. The firm’s fifty day moving average is $28.13 and its 200 day moving average is $25.64. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 27.52 and a beta of 1.10.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.14). The business had revenue of $66.48 million for the quarter, compared to analysts’ expectations of $63.70 million. Four Corners Property Trust had a net margin of 37.01% and a return on equity of 7.72%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 earnings per share. Sell-side analysts forecast that Four Corners Property Trust, Inc. will post 1.66 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 4.69%. The ex-dividend date is Monday, September 30th. Four Corners Property Trust’s payout ratio is 128.97%.

Four Corners Property Trust 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.