Public Employees Retirement System of Ohio Has $6.40 Million Stock Holdings in Four Corners Property Trust, Inc. $FCPT

Public Employees Retirement System of Ohio lifted its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 6.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 237,702 shares of the financial services provider’s stock after purchasing an additional 14,296 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.24% of Four Corners Property Trust worth $6,397,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of FCPT. Wealth Enhancement Advisory Services LLC grew its stake in shares of Four Corners Property Trust by 5.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,755 shares of the financial services provider’s stock worth $238,000 after purchasing an additional 450 shares during the period. GAMMA Investing LLC grew its position in shares of Four Corners Property Trust by 3,446.0% during the 1st quarter. GAMMA Investing LLC now owns 185,316 shares of the financial services provider’s stock worth $5,319,000 after buying an additional 180,090 shares during the period. Exchange Traded Concepts LLC grew its position in shares of Four Corners Property Trust by 37.1% during the 1st quarter. Exchange Traded Concepts LLC now owns 115,855 shares of the financial services provider’s stock worth $3,325,000 after buying an additional 31,369 shares during the period. State of Alaska Department of Revenue raised its position in shares of Four Corners Property Trust by 1.0% in the 1st quarter. State of Alaska Department of Revenue now owns 102,162 shares of the financial services provider’s stock valued at $2,930,000 after acquiring an additional 993 shares during the period. Finally, Boston Trust Walden Corp raised its position in shares of Four Corners Property Trust by 20.4% in the 1st quarter. Boston Trust Walden Corp now owns 1,578,610 shares of the financial services provider’s stock valued at $45,306,000 after acquiring an additional 267,537 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on FCPT. Barclays dropped their price objective on Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 20th. Raymond James Financial dropped their price target on Four Corners Property Trust from $31.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. UBS Group lifted their price objective on Four Corners Property Trust from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, August 15th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $27.00 target price (down from $29.00) on shares of Four Corners Property Trust in a research note on Thursday, September 11th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Four Corners Property Trust currently has a consensus rating of “Hold” and an average price target of $29.00.

Insider Buying and Selling

In related news, CAO Niccole Stewart sold 3,950 shares of Four Corners Property Trust stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $25.30, for a total value of $99,935.00. Following the transaction, the chief accounting officer directly owned 27,502 shares of the company’s stock, valued at $695,800.60. This trade represents a 12.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William H. Lenehan purchased 7,850 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was acquired at an average price of $25.40 per share, for a total transaction of $199,390.00. Following the purchase, the chief executive officer owned 698,426 shares in the company, valued at approximately $17,740,020.40. The trade was a 1.14% increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by insiders.

Four Corners Property Trust Price Performance

NYSE:FCPT opened at $24.43 on Monday. The stock has a market capitalization of $2.55 billion, a PE ratio of 22.62 and a beta of 0.86. Four Corners Property Trust, Inc. has a 1-year low of $24.33 and a 1-year high of $30.12. The firm has a fifty day simple moving average of $25.65 and a 200 day simple moving average of $26.85. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.39.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $72.84 million for the quarter, compared to analyst estimates of $70.27 million. Four Corners Property Trust had a return on equity of 7.40% and a net margin of 37.87%.The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 EPS. On average, research analysts expect that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.355 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.42 annualized dividend and a dividend yield of 5.8%. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 131.48%.

Four Corners Property Trust Profile

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.