Public Employees Retirement System of Ohio Sells 32,208 Shares of Four Corners Property Trust, Inc. $FCPT

Public Employees Retirement System of Ohio cut its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 12.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 232,279 shares of the financial services provider’s stock after selling 32,208 shares during the period. Public Employees Retirement System of Ohio owned 0.21% of Four Corners Property Trust worth $5,493,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Lasalle Investment Management Securities LLC acquired a new position in Four Corners Property Trust during the 4th quarter worth $32,889,000. B&I Capital AG lifted its stake in shares of Four Corners Property Trust by 19.7% during the fourth quarter. B&I Capital AG now owns 321,787 shares of the financial services provider’s stock valued at $7,420,000 after acquiring an additional 53,000 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Four Corners Property Trust by 20,354.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,615,583 shares of the financial services provider’s stock valued at $106,435,000 after acquiring an additional 4,593,018 shares during the period. Legal & General Group Plc boosted its holdings in Four Corners Property Trust by 21.5% in the fourth quarter. Legal & General Group Plc now owns 732,656 shares of the financial services provider’s stock valued at $16,895,000 after acquiring an additional 129,610 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Four Corners Property Trust by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 2,852,968 shares of the financial services provider’s stock worth $65,800,000 after purchasing an additional 110,791 shares during the period. 98.66% of the stock is owned by institutional investors.

Four Corners Property Trust Stock Up 1.3%

Shares of NYSE:FCPT opened at $26.32 on Thursday. The company has a 50 day moving average price of $25.14 and a two-hundred day moving average price of $24.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.15 and a current ratio of 0.15. The company has a market capitalization of $2.89 billion, a PE ratio of 23.50 and a beta of 0.80. Four Corners Property Trust, Inc. has a 52 week low of $22.78 and a 52 week high of $26.86.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.16. The company had revenue of $78.42 million for the quarter, compared to analysts’ expectations of $79.02 million. Four Corners Property Trust had a net margin of 38.74% and a return on equity of 7.38%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $0.44 earnings per share. Analysts forecast that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.1222 dividend. This represents a c) dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Wednesday, September 30th. Four Corners Property Trust’s payout ratio is presently 131.25%.

Analyst Ratings Changes

Several brokerages have recently commented on FCPT. Citigroup reiterated a “market outperform” rating on shares of Four Corners Property Trust in a research report on Monday, June 1st. Wells Fargo & Company lifted their target price on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Barclays cut their price target on Four Corners Property Trust from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 22nd. Weiss Ratings raised Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. Finally, Huntington started coverage on Four Corners Property Trust in a report on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.78.

Insider Activity

In other Four Corners Property Trust news, CEO William H. Lenehan purchased 3,961 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were bought at an average price of $25.23 per share, with a total value of $99,936.03. Following the completion of the transaction, the chief executive officer directly owned 775,696 shares in the company, valued at $19,570,810.08. This trade represents a 0.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is owned by company insiders.

About Four Corners Property Trust

Four Corners Property Trust is a publicly traded real estate investment trust focused on acquiring and managing single-tenant commercial properties subject to long-term, triple-net leases. The company targets industrial, manufacturing, distribution, office and retail facilities leased to creditworthy tenants. By concentrating on net-lease structures, Four Corners seeks to generate stable, predictable income streams and mitigate operating cost variability.

The firm’s core activities include sourcing off-market and broker-sourced acquisition opportunities, conducting rigorous credit and property due diligence, and structuring lease agreements that shift property taxes, insurance and maintenance expenses to tenants.