Free Trial

Teacher Retirement System of Texas Has $796,000 Stock Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

Four Corners Property Trust logo with Finance background

Teacher Retirement System of Texas trimmed its holdings in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 25.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,726 shares of the financial services provider's stock after selling 9,494 shares during the period. Teacher Retirement System of Texas' holdings in Four Corners Property Trust were worth $796,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Four Corners Property Trust by 14.1% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,296 shares of the financial services provider's stock valued at $1,070,000 after acquiring an additional 4,596 shares during the last quarter. KBC Group NV boosted its holdings in Four Corners Property Trust by 40.8% during the first 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 last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Four Corners Property Trust by 5.1% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 111,743 shares of the financial services provider's stock valued at $3,207,000 after purchasing an additional 5,383 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in Four Corners Property Trust by 9.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 275,185 shares of the financial services provider's stock valued at $7,898,000 after buying an additional 23,884 shares during the last quarter. Finally, Longboard Asset Management LP bought a new stake in Four Corners Property Trust during the 1st quarter worth about $209,000. Institutional investors and hedge funds own 98.66% of the company's stock.

Four Corners Property Trust Stock Performance

Four Corners Property Trust stock traded down $0.01 during mid-day trading on Friday, hitting $26.28. 189,166 shares of the company's stock traded hands, compared to its average volume of 667,010. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 24.56 and a beta of 0.84. 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 50 day simple moving average of $27.20 and a two-hundred day simple moving average of $27.61. Four Corners Property Trust, Inc. has a fifty-two week low of $25.01 and a fifty-two week high of $30.93.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. The company had revenue of $71.48 million during the quarter, compared to analysts' expectations of $67.17 million. Four Corners Property Trust had a return on equity of 7.46% and a net margin of 37.57%. The business's revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.43 earnings per share. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date of this dividend was Monday, June 30th. Four Corners Property Trust's dividend payout ratio is currently 132.71%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. UBS Group dropped their target price on Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company dropped their price target on shares of Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, June 2nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $29.40.

View Our Latest Stock Analysis on Four Corners Property Trust

Insider Activity

In related news, Director John S. Moody sold 7,667 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $27.42, for a total value of $210,229.14. Following the transaction, the director directly owned 53,821 shares in the company, valued at approximately $1,475,771.82. This represents a 12.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.20% of the company's stock.

About Four Corners Property Trust

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Four Corners Property Trust (NYSE:FCPT)

Should You Invest $1,000 in Four Corners Property Trust Right Now?

Before you consider Four Corners Property Trust, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Four Corners Property Trust wasn't on the list.

While Four Corners Property Trust currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Elon Musk's Next Move Cover

Explore Elon Musk’s boldest ventures yet—from AI and autonomy to space colonization—and find out how investors can ride the next wave of innovation.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Buy-the-Dip Stocks Poised to Rebound Soon
Quantum Boom: 3 Strong Picks with Lower Risk
3 Overlooked AI Stocks That Chipmakers Can’t Live Without

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines