Public Employees Retirement System of Ohio Sells 13,507 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Public Employees Retirement System of Ohio trimmed its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 5.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 256,145 shares of the financial services provider’s stock after selling 13,507 shares during the period. Public Employees Retirement System of Ohio’s holdings in Four Corners Property Trust were worth $7,508,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Boston Trust Walden Corp raised its holdings in Four Corners Property Trust by 18.7% in the 2nd quarter. Boston Trust Walden Corp now owns 1,216,760 shares of the financial services provider’s stock worth $30,017,000 after acquiring an additional 191,259 shares during the last quarter. Creative Planning raised its stake in shares of Four Corners Property Trust by 13.3% in the third quarter. Creative Planning now owns 28,159 shares of the financial services provider’s stock worth $825,000 after purchasing an additional 3,315 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Four Corners Property Trust by 6.1% during the third quarter. Thrivent Financial for Lutherans now owns 349,221 shares of the financial services provider’s stock valued at $10,236,000 after purchasing an additional 20,028 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Four Corners Property Trust by 211.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 159,630 shares of the financial services provider’s stock valued at $4,679,000 after buying an additional 108,345 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in Four Corners Property Trust by 21.0% during the 3rd quarter. Citigroup Inc. now owns 201,872 shares of the financial services provider’s stock valued at $5,917,000 after acquiring an additional 35,059 shares during the period. 98.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wells Fargo & Company reissued an “overweight” rating and set a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Evercore ISI lifted their price objective on Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. UBS Group assumed coverage on Four Corners Property Trust in a report on Thursday, November 14th. They issued a “buy” rating and a $33.00 target price on the stock. Raymond James upped their price target on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Finally, JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a research report on Tuesday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $30.50.

Four Corners Property Trust Stock Down 0.1 %

Shares of FCPT stock opened at $28.90 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.17 and a quick ratio of 0.17. Four Corners Property Trust, Inc. has a one year low of $22.38 and a one year high of $30.93. The company’s fifty day moving average price is $28.72 and its 200-day moving average price is $27.46. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 27.01 and a beta of 1.12.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.14). Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The business had revenue of $66.79 million for the quarter, compared to the consensus estimate of $63.50 million. During the same period last year, the business posted $0.42 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Sell-side analysts expect that Four Corners Property Trust, Inc. will post 1.66 EPS for the current fiscal year.

Four Corners Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.355 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.42 annualized dividend and a yield of 4.91%. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. Four Corners Property Trust’s payout ratio is presently 132.71%.

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.