Louisiana State Employees Retirement System Acquires Shares of 45,300 Four Corners Property Trust, Inc. (NYSE:FCPT)

Louisiana State Employees Retirement System bought a new stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 45,300 shares of the financial services provider’s stock, valued at approximately $1,146,000.

A number of other large investors have also recently made changes to their positions in the stock. Strs Ohio boosted its stake in shares of Four Corners Property Trust by 2.8% during the third quarter. Strs Ohio now owns 18,300 shares of the financial services provider’s stock valued at $406,000 after purchasing an additional 500 shares during the period. Arizona State Retirement System boosted its stake in shares of Four Corners Property Trust by 2.2% during the fourth quarter. Arizona State Retirement System now owns 25,318 shares of the financial services provider’s stock valued at $641,000 after purchasing an additional 539 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Four Corners Property Trust by 1.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,804 shares of the financial services provider’s stock valued at $706,000 after purchasing an additional 589 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Four Corners Property Trust by 0.7% during the fourth quarter. State of Alaska Department of Revenue now owns 98,248 shares of the financial services provider’s stock valued at $2,484,000 after purchasing an additional 700 shares during the period. Finally, Cerity Partners LLC boosted its stake in shares of Four Corners Property Trust by 3.9% during the fourth quarter. Cerity Partners LLC now owns 22,654 shares of the financial services provider’s stock valued at $573,000 after purchasing an additional 849 shares during the period. 98.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FCPT. Wells Fargo & Company boosted their target price on shares of Four Corners Property Trust from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. Raymond James lowered their price objective on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, January 8th.

Four Corners Property Trust Stock Up 1.7 %

NYSE:FCPT opened at $23.67 on Wednesday. Four Corners Property Trust, Inc. has a 1-year low of $20.51 and a 1-year high of $27.60. The company has a 50-day moving average of $23.83 and a 200 day moving average of $23.56. The firm has a market cap of $2.18 billion, a PE ratio of 21.92 and a beta of 1.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.12 and a quick ratio of 0.12.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Thursday, February 15th. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.13). Four Corners Property Trust had a return on equity of 7.78% and a net margin of 38.04%. The business had revenue of $65.14 million during the quarter, compared to analysts’ expectations of $65.23 million. During the same period last year, the company earned $0.41 earnings per share. The firm’s revenue was up 13.6% compared to the same quarter last year. As a group, research analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a dividend yield of 5.83%. The ex-dividend date of this dividend was Wednesday, March 27th. Four Corners Property Trust’s payout ratio is 127.78%.

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.