Arizona State Retirement System grew its stake in Four Corners Property Trust, Inc. (NYSE:FCPT – Get Rating) by 5.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,986 shares of the financial services provider’s stock after purchasing an additional 1,147 shares during the period. Arizona State Retirement System’s holdings in Four Corners Property Trust were worth $596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in the stock. Macquarie Group Ltd. grew its position in Four Corners Property Trust by 2.7% in the third quarter. Macquarie Group Ltd. now owns 1,564,240 shares of the financial services provider’s stock worth $37,866,000 after acquiring an additional 40,647 shares during the period. Louisiana State Employees Retirement System grew its position in Four Corners Property Trust by 2.3% in the fourth quarter. Louisiana State Employees Retirement System now owns 39,800 shares of the financial services provider’s stock worth $1,032,000 after acquiring an additional 900 shares during the period. Nomura Asset Management Co. Ltd. grew its position in Four Corners Property Trust by 10.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 79,930 shares of the financial services provider’s stock worth $1,934,000 after acquiring an additional 7,290 shares during the period. Centersquare Investment Management LLC grew its position in Four Corners Property Trust by 71.3% in the third quarter. Centersquare Investment Management LLC now owns 1,645,217 shares of the financial services provider’s stock worth $39,798,000 after acquiring an additional 684,835 shares during the period. Finally, Mesirow Institutional Investment Management Inc. purchased a new position in Four Corners Property Trust in the third quarter worth approximately $5,813,000. 94.71% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, StockNews.com started coverage on Four Corners Property Trust in a research report on Thursday. They issued a “hold” rating for the company. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Four Corners Property Trust presently has a consensus rating of “Hold” and an average price target of $28.33.
Four Corners Property Trust Trading Up 1.2 %
Four Corners Property Trust (NYSE:FCPT – Get Rating) last announced its quarterly earnings data on Monday, May 1st. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.12). The company had revenue of $59.95 million during the quarter, compared to analyst estimates of $59.03 million. Four Corners Property Trust had a net margin of 43.12% and a return on equity of 9.11%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 earnings per share. On average, equities analysts expect that Four Corners Property Trust, Inc. will post 1.61 earnings per share for the current year.
Four Corners Property Trust Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Friday, March 31st were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 5.26%. The ex-dividend date of this dividend was Thursday, March 30th. Four Corners Property Trust’s payout ratio is currently 114.29%.
Four Corners Property Trust 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.
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