Louisiana State Employees Retirement System Purchases 2,000 Shares of Four Corners Property Trust Inc (FCPT)

Louisiana State Employees Retirement System raised its position in Four Corners Property Trust Inc (NYSE:FCPT) by 7.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,500 shares of the financial services provider’s stock after purchasing an additional 2,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Four Corners Property Trust were worth $758,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FCPT. BlackRock Inc. increased its position in shares of Four Corners Property Trust by 14.9% in the second quarter. BlackRock Inc. now owns 11,137,431 shares of the financial services provider’s stock valued at $274,315,000 after acquiring an additional 1,446,587 shares during the last quarter. FMR LLC increased its position in shares of Four Corners Property Trust by 23.8% in the second quarter. FMR LLC now owns 4,298,390 shares of the financial services provider’s stock valued at $105,869,000 after acquiring an additional 825,290 shares during the last quarter. OppenheimerFunds Inc. increased its position in shares of Four Corners Property Trust by 2.7% in the second quarter. OppenheimerFunds Inc. now owns 1,270,151 shares of the financial services provider’s stock valued at $31,284,000 after acquiring an additional 33,426 shares during the last quarter. Northern Trust Corp increased its position in shares of Four Corners Property Trust by 3.0% in the first quarter. Northern Trust Corp now owns 1,195,859 shares of the financial services provider’s stock valued at $27,613,000 after acquiring an additional 35,224 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Four Corners Property Trust by 14.7% in the second quarter. Wells Fargo & Company MN now owns 1,165,542 shares of the financial services provider’s stock valued at $28,706,000 after acquiring an additional 149,302 shares during the last quarter. 88.60% of the stock is currently owned by hedge funds and other institutional investors.

Four Corners Property Trust stock opened at $25.81 on Friday. Four Corners Property Trust Inc has a 52 week low of $21.28 and a 52 week high of $27.48. The company has a debt-to-equity ratio of 0.90, a current ratio of 6.59 and a quick ratio of 6.59. The stock has a market cap of $1.62 billion, a P/E ratio of 18.66 and a beta of 0.05.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.09. Four Corners Property Trust had a return on equity of 14.59% and a net margin of 59.38%. The business had revenue of $34.70 million during the quarter, compared to analysts’ expectations of $34.86 million. During the same quarter last year, the company posted $0.34 earnings per share. Four Corners Property Trust’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts predict that Four Corners Property Trust Inc will post 1.41 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, September 28th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date was Thursday, September 27th. Four Corners Property Trust’s payout ratio is currently 80.88%.

A number of analysts recently issued reports on the company. LADENBURG THALM/SH SH downgraded Four Corners Property Trust from a “buy” rating to a “neutral” rating and set a $26.00 target price on the stock. in a research report on Tuesday, July 31st. Zacks Investment Research upgraded Four Corners Property Trust from a “sell” rating to a “hold” rating in a report on Thursday, August 9th.

Four Corners Property Trust Profile

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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