State of New Jersey Common Pension Fund D Trims Stake in Four Corners Property Trust, Inc. (NYSE:FCPT)

State of New Jersey Common Pension Fund D decreased its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 10.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 72,136 shares of the financial services provider’s stock after selling 8,611 shares during the period. State of New Jersey Common Pension Fund D owned about 0.07% of Four Corners Property Trust worth $1,958,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its holdings in Four Corners Property Trust by 30.6% during the third quarter. FMR LLC now owns 13,930,746 shares of the financial services provider’s stock valued at $408,310,000 after purchasing an additional 3,268,064 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Four Corners Property Trust by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,357,175 shares of the financial services provider’s stock worth $69,101,000 after buying an additional 27,552 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Four Corners Property Trust by 6.1% during the third quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider’s stock valued at $51,996,000 after acquiring an additional 102,662 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Four Corners Property Trust by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,518,075 shares of the financial services provider’s stock valued at $44,495,000 after acquiring an additional 63,856 shares during the period. Finally, Heitman Real Estate Securities LLC acquired a new stake in shares of Four Corners Property Trust in the third quarter valued at $24,863,000. 98.66% of the stock is owned by institutional investors and hedge funds.

Four Corners Property Trust Price Performance

NYSE FCPT opened at $28.24 on Tuesday. The stock has a market capitalization of $2.82 billion, a P/E ratio of 26.39 and a beta of 1.14. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.11 and a current ratio of 0.11. The business’s fifty day moving average is $27.51 and its two-hundred day moving average is $28.27. Four Corners Property Trust, Inc. has a 1 year low of $22.38 and a 1 year high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.28 by $0.16. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. On average, research analysts forecast that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. UBS Group started coverage on shares of Four Corners Property Trust in a research note on Thursday, November 14th. They issued a “buy” rating and a $33.00 price objective for the company. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. Finally, Barclays decreased their target price on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.40.

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.