Texas Permanent School Fund Has $1.08 Million Stake in Four Corners Property Trust Inc (FCPT)

Texas Permanent School Fund increased its position in Four Corners Property Trust Inc (NYSE:FCPT) by 6.1% in the third quarter, HoldingsChannel.com reports. The fund 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’s holdings in Four Corners Property Trust were worth $1,080,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in FCPT. Trust Department MB Financial Bank N A purchased a new stake in Four Corners Property Trust in the second quarter valued at approximately $108,000. Itau Unibanco Holding S.A. purchased a new stake in Four Corners Property Trust in the second quarter valued at approximately $166,000. Nisa Investment Advisors LLC purchased a new stake in Four Corners Property Trust in the second quarter valued at approximately $265,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Four Corners Property Trust in the second quarter valued at approximately $320,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in Four Corners Property Trust in the first quarter valued at approximately $325,000. Institutional investors own 88.92% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Four Corners Property Trust from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 25th. LADENBURG THALM/SH SH downgraded shares of 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 note on Tuesday, July 31st. Finally, TheStreet raised shares of Four Corners Property Trust from a “c” rating to a “b” rating in a research note on Monday, October 29th.

Shares of FCPT opened at $27.02 on Friday. The company has a market capitalization of $1.84 billion, a P/E ratio of 19.52 and a beta of 0.06. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 0.75. Four Corners Property Trust Inc has a 1-year low of $21.28 and a 1-year high of $27.48.

Four Corners Property Trust (NYSE:FCPT) last announced 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 company had revenue of $36.12 million during the quarter, compared to analysts’ expectations of $36.38 million. Four Corners Property Trust had a net margin of 57.05% and a return on equity of 13.21%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 earnings per share. On average, analysts anticipate that Four Corners Property Trust Inc will post 1.41 EPS for the current fiscal year.

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

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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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