Public Sector Pension Investment Board Buys 76,060 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

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 boosted its stake in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 31.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 317,020 shares of the financial services provider's stock after purchasing an additional 76,060 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.32% of Four Corners Property Trust worth $9,098,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Zimmer Partners LP bought a new stake in shares of Four Corners Property Trust during the 4th quarter valued at about $38,512,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Four Corners Property Trust during the 1st quarter valued at about $33,515,000. Balyasny Asset Management L.P. bought a new stake in shares of Four Corners Property Trust during the 4th quarter valued at about $18,084,000. Nuveen LLC bought a new stake in shares of Four Corners Property Trust during the 1st quarter valued at about $18,291,000. Finally, Capital International Investors boosted its position in shares of Four Corners Property Trust by 25.4% during the 4th quarter. Capital International Investors now owns 2,267,422 shares of the financial services provider's stock valued at $61,538,000 after acquiring an additional 459,542 shares during the last quarter. Institutional investors own 98.66% of the company's stock.

Four Corners Property Trust Stock Performance

Four Corners Property Trust stock traded up $0.05 during mid-day trading on Friday, reaching $25.43. 440,556 shares of the stock traded hands, compared to its average volume of 636,080. The stock has a market capitalization of $2.66 billion, a PE ratio of 14.53 and a beta of 0.83. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.12 and a quick ratio of 0.12. Four Corners Property Trust, Inc. has a 12-month low of $25.00 and a 12-month high of $30.93. The business's 50-day moving average is $26.60 and its 200-day moving average is $27.41.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $72.84 million during the quarter, compared to analysts' expectations of $70.27 million. Four Corners Property Trust had a return on equity of 7.40% and a net margin of 37.87%. The business's quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.43 earnings per share. As a group, sell-side analysts predict that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $0.355 per share. 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 dividend payout ratio is 131.48%.

Insider Transactions at Four Corners Property Trust

In other Four Corners Property Trust news, Director John S. Moody sold 7,667 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $27.42, for a total transaction of $210,229.14. Following the sale, the director directly owned 53,821 shares in the company, valued at $1,475,771.82. This represents a 12.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Wells Fargo & Company decreased their price objective on Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating on the stock in a report on Monday, June 2nd. UBS Group raised 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. Finally, Raymond James Financial decreased their price objective on Four Corners Property Trust from $31.00 to $29.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $29.60.

Four Corners Property Trust Company 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.