New York State Teachers Retirement System Decreases Position in Four Corners Property Trust, Inc. (NYSE:FCPT)

New York State Teachers Retirement System decreased its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 2.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 160,667 shares of the financial services provider’s stock after selling 4,600 shares during the period. New York State Teachers Retirement System owned about 0.17% of Four Corners Property Trust worth $4,709,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Boston Trust Walden Corp increased its holdings in Four Corners Property Trust by 18.7% during the 2nd quarter. Boston Trust Walden Corp now owns 1,216,760 shares of the financial services provider’s stock valued at $30,017,000 after acquiring an additional 191,259 shares in the last quarter. Creative Planning grew its position 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 valued at $825,000 after purchasing an additional 3,315 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Four Corners Property Trust by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 10,635,297 shares of the financial services provider’s stock worth $260,246,000 after purchasing an additional 116,453 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Four Corners Property Trust by 6.1% during the 2nd quarter. Renaissance Technologies LLC now owns 93,400 shares of the financial services provider’s stock worth $2,304,000 after purchasing an additional 5,400 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Four Corners Property Trust by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,324,966 shares of the financial services provider’s stock valued at $32,687,000 after buying an additional 51,140 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Evercore ISI raised their price target on Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Raymond James raised their price target on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $32.00 price objective (up previously from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st.

Four Corners Property Trust Stock Up 0.5 %

FCPT opened at $27.87 on Wednesday. Four Corners Property Trust, Inc. has a 12 month low of $21.60 and a 12 month high of $30.93. The business has a 50-day moving average of $29.03 and a two-hundred day moving average of $26.63. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 26.05 and a beta of 1.11.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $66.79 million during the quarter, compared to analysts’ expectations of $63.50 million. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Four Corners Property Trust’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, research analysts expect that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date was Monday, September 30th. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 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.