Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System boosted its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,747 shares of the financial services provider’s stock after purchasing an additional 854 shares during the period. Arizona State Retirement System’s holdings in Four Corners Property Trust were worth $796,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. acquired a new position in Four Corners Property Trust in the fourth quarter worth approximately $46,000. Quarry LP acquired a new position in Four Corners Property Trust in the 4th quarter worth approximately $49,000. Sterling Capital Management LLC boosted its stake in Four Corners Property Trust by 856.0% in the 4th quarter. Sterling Capital Management LLC now owns 3,040 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 2,722 shares during the period. KBC Group NV boosted its stake in Four Corners Property Trust by 40.8% in the 1st quarter. KBC Group NV now owns 5,212 shares of the financial services provider’s stock worth $150,000 after purchasing an additional 1,510 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Four Corners Property Trust by 23.6% in the 1st quarter. GAMMA Investing LLC now owns 6,457 shares of the financial services provider’s stock worth $185,000 after purchasing an additional 1,231 shares during the period. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FCPT has been the subject of a number of research reports. UBS Group decreased their target price on shares of Four Corners Property Trust from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Wells Fargo & Company reduced their price objective on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday, June 2nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Four Corners Property Trust presently has a consensus rating of “Moderate Buy” and an average price target of $29.40.

Insider Transactions at Four Corners Property Trust

In related news, Director John S. Moody sold 7,667 shares of the company’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $27.42, for a total value of $210,229.14. Following the sale, the director directly owned 53,821 shares of the company’s stock, valued at $1,475,771.82. This represents a 12.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.

Four Corners Property Trust Stock Performance

NYSE FCPT opened at $26.35 on Tuesday. Four Corners Property Trust, Inc. has a 1 year low of $25.01 and a 1 year high of $30.93. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 24.62 and a beta of 0.84. The company has a fifty day moving average price of $27.17 and a 200-day moving average price of $27.61.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. Four Corners Property Trust had a net margin of 37.57% and a return on equity of 7.46%. The business had revenue of $71.48 million for the quarter, compared to the consensus estimate of $67.17 million. During the same period in the prior year, the firm earned $0.43 earnings per share. The company’s revenue was up 7.5% compared to the same quarter last year. As a group, equities research analysts predict that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 5.39%. The ex-dividend date was Monday, June 30th. Four Corners Property Trust’s dividend payout ratio (DPR) is 132.71%.

About Four Corners Property Trust

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.