Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lowered its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 10.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,853 shares of the financial services provider’s stock after selling 8,409 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.08% of Four Corners Property Trust worth $1,748,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Connable Office Inc. boosted its stake in shares of Four Corners Property Trust by 29.9% during the second quarter. Connable Office Inc. now owns 13,721 shares of the financial services provider’s stock valued at $338,000 after acquiring an additional 3,156 shares during the last quarter. Arizona State Retirement System increased its holdings in Four Corners Property Trust by 3.5% during the 2nd quarter. Arizona State Retirement System now owns 25,753 shares of the financial services provider’s stock worth $635,000 after purchasing an additional 863 shares during the last quarter. Rhumbline Advisers increased its holdings in Four Corners Property Trust by 0.7% during the 2nd quarter. Rhumbline Advisers now owns 335,493 shares of the financial services provider’s stock worth $8,277,000 after purchasing an additional 2,328 shares during the last quarter. Natixis Advisors LLC grew its position in shares of Four Corners Property Trust by 37.6% in the 2nd quarter. Natixis Advisors LLC now owns 29,832 shares of the financial services provider’s stock worth $736,000 after acquiring an additional 8,146 shares in the last quarter. Finally, Aptus Capital Advisors LLC grew its position in shares of Four Corners Property Trust by 24.8% in the 2nd quarter. Aptus Capital Advisors LLC now owns 86,335 shares of the financial services provider’s stock worth $2,130,000 after acquiring an additional 17,175 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on FCPT shares. Evercore ISI boosted their price objective on Four Corners Property Trust from $26.00 to $28.00 and gave the company 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 report on Wednesday, August 28th. Raymond James lifted their price objective on shares of 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. Finally, Wells Fargo & Company raised shares of Four Corners Property Trust to a “strong-buy” rating in a research report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Four Corners Property Trust currently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

Four Corners Property Trust Stock Performance

NYSE FCPT opened at $30.62 on Thursday. Four Corners Property Trust, Inc. has a 52-week low of $20.51 and a 52-week high of $30.93. 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 firm has a 50-day moving average of $27.73 and a 200-day moving average of $25.43. The stock has a market cap of $2.82 billion, a PE ratio of 28.62 and a beta of 1.10.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Wednesday, July 31st. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.14). Four Corners Property Trust had a net margin of 37.01% and a return on equity of 7.72%. The firm had revenue of $66.48 million during the quarter, compared to the consensus estimate of $63.70 million. During the same period in the prior year, the business earned $0.42 earnings per share. Four Corners Property Trust’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Four Corners Property Trust, Inc. will post 1.66 EPS for the current year.

Four Corners Property Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.345 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 4.51%. Four Corners Property Trust’s payout ratio 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.