Four Corners Property Trust Inc (FCPT) Shares Bought by Texas Permanent School Fund

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Texas Permanent School Fund increased its stake in shares of Four Corners Property Trust Inc (NYSE:FCPT) by 6.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,056 shares of the financial services provider’s stock after acquiring an additional 2,434 shares during the quarter. Texas Permanent School Fund owned approximately 0.07% of Four Corners Property Trust worth $1,080,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of FCPT. Strs Ohio boosted its position in Four Corners Property Trust by 6.9% during the third quarter. Strs Ohio now owns 246,047 shares of the financial services provider’s stock worth $6,320,000 after purchasing an additional 15,824 shares during the period. Aperio Group LLC boosted its position in Four Corners Property Trust by 4.6% during the third quarter. Aperio Group LLC now owns 55,321 shares of the financial services provider’s stock worth $1,421,000 after purchasing an additional 2,440 shares during the period. Louisiana State Employees Retirement System boosted its position in Four Corners Property Trust by 7.3% during the third quarter. Louisiana State Employees Retirement System now owns 29,500 shares of the financial services provider’s stock worth $758,000 after purchasing an additional 2,000 shares during the period. FMR LLC boosted its position in Four Corners Property Trust by 23.8% during the second quarter. FMR LLC now owns 4,298,390 shares of the financial services provider’s stock worth $105,869,000 after purchasing an additional 825,290 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Four Corners Property Trust by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 884,675 shares of the financial services provider’s stock worth $21,789,000 after purchasing an additional 24,521 shares during the period. 88.92% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:FCPT opened at $27.02 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.95 and a quick ratio of 2.95. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 19.52 and a beta of 0.06. Four Corners Property Trust Inc has a twelve month low of $21.28 and a twelve month high of $27.48.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Monday, October 29th. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.08). The business had revenue of $36.12 million for the quarter, compared to the consensus estimate of $36.38 million. Four Corners Property Trust had a return on equity of 13.21% and a net margin of 57.05%. Four Corners Property Trust’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS. Analysts predict that Four Corners Property Trust Inc will post 1.41 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 28th were given a dividend of $0.275 per share. The ex-dividend date was Thursday, September 27th. This represents a $1.10 dividend on an annualized basis and a yield of 4.07%. Four Corners Property Trust’s dividend payout ratio is presently 80.88%.

A number of equities analysts have weighed in on FCPT shares. Zacks Investment Research upgraded shares of Four Corners Property Trust from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. LADENBURG THALM/SH SH lowered shares of Four Corners Property Trust from a “buy” rating to a “neutral” rating and set a $26.00 target price for the company. in a research report on Tuesday, July 31st. Finally, TheStreet upgraded shares of Four Corners Property Trust from a “c” rating to a “b” rating in a research report on Monday, October 29th.

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About Four Corners Property Trust

FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease for use in the restaurant and related food services industry.

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

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