Public Employees Retirement System of Ohio Makes New $5.23 Million Investment in Four Corners Property Trust, Inc. $FCPT

Public Employees Retirement System of Ohio bought a new stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 213,140 shares of the financial services provider’s stock, valued at approximately $5,233,000. Public Employees Retirement System of Ohio owned approximately 0.19% of Four Corners Property Trust as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parallel Advisors LLC lifted its holdings in shares of Four Corners Property Trust by 80.1% in the third quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock worth $25,000 after buying an additional 463 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Four Corners Property Trust by 1.1% during the 2nd quarter. Lazard Asset Management LLC now owns 54,519 shares of the financial services provider’s stock worth $1,467,000 after acquiring an additional 568 shares during the period. Strs Ohio increased its holdings in Four Corners Property Trust by 3.3% during the 4th quarter. Strs Ohio now owns 18,700 shares of the financial services provider’s stock worth $431,000 after acquiring an additional 600 shares during the period. Handelsbanken Fonder AB lifted its stake in Four Corners Property Trust by 1.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 34,095 shares of the financial services provider’s stock worth $837,000 after purchasing an additional 600 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in Four Corners Property Trust by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 94,900 shares of the financial services provider’s stock worth $2,554,000 after purchasing an additional 647 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Citigroup restated a “market outperform” rating on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Citizens Jmp reissued a “market outperform” rating and set a $28.00 price objective on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. Huntington started coverage on Four Corners Property Trust in a research report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 target price for the company. Jefferies Financial Group set a $28.00 target price on Four Corners Property Trust in a research note on Tuesday, August 25th. Finally, Weiss Ratings cut Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Four Corners Property Trust presently has an average rating of “Moderate Buy” and a consensus price target of $27.80.

Four Corners Property Trust Stock Performance

Four Corners Property Trust stock opened at $24.76 on Thursday. The firm’s fifty day moving average price is $25.32 and its 200-day moving average price is $25.05. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.14 and a current ratio of 0.14. The stock has a market cap of $2.72 billion, a P/E ratio of 22.30 and a beta of 0.79. Four Corners Property Trust, Inc. has a fifty-two week low of $22.78 and a fifty-two week high of $26.86.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.16. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%.The business had revenue of $78.42 million for the quarter, compared to the consensus estimate of $79.02 million. During the same quarter last year, the business posted $0.44 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts expect that Four Corners Property Trust, Inc. will post 1.76 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.1222 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 132.43%.

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.