Four Corners Property Trust, Inc. $FCPT Shares Purchased by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Four Corners Property Trust by 31.6%, holding approximately 0.32% of the company valued at $9.10 million.
• Four Corners Property Trust reported a quarterly earnings per share of $0.44, surpassing estimates by $0.02, with revenues of $72.84 million, a 9.6% increase year-over-year.
• The company announced a quarterly dividend of $0.355 per share, equating to an annualized dividend yield of 5.6%, though its dividend payout ratio currently stands at 131.48%.

Public Sector Pension Investment Board lifted its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 31.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 317,020 shares of the financial services provider's stock after buying an additional 76,060 shares during the period. Public Sector Pension Investment Board owned about 0.32% of Four Corners Property Trust worth $9,098,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Costello Asset Management INC bought a new stake in shares of Four Corners Property Trust during the 1st quarter worth approximately $40,000. GF Fund Management CO. LTD. bought a new position in shares of Four Corners Property Trust in the 4th quarter worth $46,000. Quarry LP purchased a new position in Four Corners Property Trust in the fourth quarter worth $49,000. Sterling Capital Management LLC grew its stake in Four Corners Property Trust by 856.0% during the 4th quarter. Sterling Capital Management LLC now owns 3,040 shares of the financial services provider's stock worth $83,000 after buying an additional 2,722 shares during the last quarter. Finally, CWM LLC increased its position in Four Corners Property Trust by 15.0% during the 1st quarter. CWM LLC now owns 2,975 shares of the financial services provider's stock valued at $85,000 after buying an additional 389 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Four Corners Property Trust news, Director John S. Moody sold 7,667 shares of Four Corners Property Trust 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 owned 53,821 shares in the company, valued at $1,475,771.82. The trade was a 12.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by corporate insiders.

Four Corners Property Trust Price Performance

Shares of NYSE FCPT traded down $0.07 during midday trading on Monday, hitting $25.37. The stock had a trading volume of 101,057 shares, compared to its average volume of 701,487. The company has a market capitalization of $2.65 billion, a PE ratio of 23.49 and a beta of 0.83. The stock has a 50 day simple moving average of $26.60 and a 200-day simple moving average of $27.41. Four Corners Property Trust, Inc. has a 1 year low of $25.00 and a 1 year high of $30.93. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.39.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. Four Corners Property Trust had a return on equity of 7.40% and a net margin of 37.87%. The firm had revenue of $72.84 million for the quarter, compared to the consensus estimate of $70.27 million. During the same quarter last year, the business posted $0.43 earnings per share. The firm's revenue was up 9.6% compared to the same quarter last year. On average, sell-side 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.355 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.42 dividend on an annualized basis and a yield of 5.6%. Four Corners Property Trust's payout ratio is currently 131.48%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FCPT shares. Wells Fargo & Company reduced their target price on 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. UBS Group raised their target price on Four Corners Property Trust from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Friday. Finally, Raymond James Financial cut their price objective on Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Four Corners Property Trust presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.60.

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.