Louisiana State Employees Retirement System Purchases New Stake in Four Corners Property Trust, Inc. (NYSE:FCPT)

Louisiana State Employees Retirement System purchased a new stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 45,300 shares of the financial services provider’s stock, valued at approximately $1,146,000. Louisiana State Employees Retirement System owned about 0.05% of Four Corners Property Trust as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FCPT. Cerity Partners LLC raised its holdings in Four Corners Property Trust by 3.9% in the 4th quarter. Cerity Partners LLC now owns 22,654 shares of the financial services provider’s stock worth $573,000 after purchasing an additional 849 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Four Corners Property Trust by 4.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 56,476 shares of the financial services provider’s stock worth $1,429,000 after purchasing an additional 2,286 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Four Corners Property Trust by 180.7% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 58,806 shares of the financial services provider’s stock worth $1,481,000 after purchasing an additional 37,855 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in Four Corners Property Trust by 39.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 278,969 shares of the financial services provider’s stock worth $7,116,000 after purchasing an additional 78,858 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in Four Corners Property Trust by 2.2% in the 4th quarter. Arizona State Retirement System now owns 25,318 shares of the financial services provider’s stock worth $641,000 after purchasing an additional 539 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FCPT. Wells Fargo & Company upped their target price on shares of Four Corners Property Trust from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Raymond James reduced their target price on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, January 8th.

Four Corners Property Trust Stock Performance

Shares of FCPT stock opened at $23.67 on Wednesday. Four Corners Property Trust, Inc. has a one year low of $20.51 and a one year high of $27.60. The company’s 50-day moving average is $23.83 and its 200 day moving average is $23.56. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 21.92 and a beta of 1.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.12 and a current ratio of 0.12.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Thursday, February 15th. The financial services provider reported $0.27 EPS 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 firm had revenue of $65.14 million for the quarter, compared to analysts’ expectations of $65.23 million. During the same period last year, the company posted $0.41 earnings per share. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. Sell-side analysts expect that Four Corners Property Trust, Inc. will post 1.64 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a yield of 5.83%. The ex-dividend date of this dividend was Wednesday, March 27th. Four Corners Property Trust’s dividend payout ratio (DPR) is 127.78%.

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.