Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,072 shares of the financial services provider’s stock after selling 562 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Four Corners Property Trust were worth $791,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Four Corners Property Trust by 12.4% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,934 shares of the financial services provider’s stock worth $812,000 after acquiring an additional 3,636 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Four Corners Property Trust by 5.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,403 shares of the financial services provider’s stock worth $1,836,000 after acquiring an additional 3,597 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Four Corners Property Trust by 2.4% during the second quarter. Bank of New York Mellon Corp now owns 986,291 shares of the financial services provider’s stock worth $24,332,000 after acquiring an additional 22,792 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Four Corners Property Trust by 3.1% during the second quarter. Louisiana State Employees Retirement System now owns 46,300 shares of the financial services provider’s stock worth $1,142,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Boston Trust Walden Corp increased its stake in Four Corners Property Trust by 18.7% during the second 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. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Trading Up 1.0 %

Shares of FCPT opened at $28.35 on Monday. The company has a market capitalization of $2.63 billion, a P/E ratio of 26.50 and a beta of 1.08. Four Corners Property Trust, Inc. has a one year low of $20.51 and a one year high of $28.35. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a 50-day moving average price of $26.45 and a 200 day moving average price of $24.91.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). The business had revenue of $66.48 million during 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 company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 EPS. Sell-side analysts forecast that Four Corners Property Trust, Inc. will post 1.65 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date was Friday, June 28th. Four Corners Property Trust’s dividend payout ratio is currently 128.97%.

Insider Activity at Four Corners Property Trust

In other news, CEO William H. Lenehan bought 6,230 shares of Four Corners Property Trust stock in a transaction on Monday, June 10th. The shares were bought at an average price of $24.05 per share, with a total value of $149,831.50. Following the acquisition, the chief executive officer now directly owns 620,394 shares in the company, valued at approximately $14,920,475.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Four Corners Property Trust news, Director John S. Moody sold 7,230 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $24.56, for a total transaction of $177,568.80. Following the transaction, the director now owns 61,108 shares of the company’s stock, valued at approximately $1,500,812.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William H. Lenehan bought 6,230 shares of Four Corners Property Trust stock in a transaction on Monday, June 10th. The shares were purchased at an average cost of $24.05 per share, for a total transaction of $149,831.50. Following the acquisition, the chief executive officer now owns 620,394 shares in the company, valued at $14,920,475.70. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Raymond James increased their target price on Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Wells Fargo & Company upgraded Four Corners Property Trust to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Evercore ISI increased their target price on Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.00.

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.