Public Sector Pension Investment Board Buys 64,906 Shares of Four Corners Property Trust, Inc. $FCPT

Public Sector Pension Investment Board lifted its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 18.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 407,427 shares of the financial services provider’s stock after buying an additional 64,906 shares during the quarter. Public Sector Pension Investment Board owned about 0.38% of Four Corners Property Trust worth $9,941,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Rye Brook Capital LLC lifted its stake in Four Corners Property Trust by 0.4% in the third quarter. Rye Brook Capital LLC now owns 123,100 shares of the financial services provider’s stock valued at $3,004,000 after acquiring an additional 500 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Four Corners Property Trust by 1.9% during the 3rd quarter. Arizona State Retirement System now owns 29,730 shares of the financial services provider’s stock worth $725,000 after purchasing an additional 554 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Four Corners Property Trust by 3.1% in the 2nd quarter. Bank of Montreal Can now owns 18,912 shares of the financial services provider’s stock valued at $509,000 after purchasing an additional 568 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Four Corners Property Trust by 1.1% in the 2nd quarter. Lazard Asset Management LLC now owns 54,519 shares of the financial services provider’s stock valued at $1,467,000 after purchasing an additional 568 shares during the period. 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 valued at $2,554,000 after purchasing an additional 647 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Price Performance

Four Corners Property Trust stock opened at $24.35 on Tuesday. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 22.13 and a beta of 0.83. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.36. Four Corners Property Trust, Inc. has a 12 month low of $22.78 and a 12 month high of $29.81. The stock’s 50 day moving average is $24.01 and its 200-day moving average is $24.45.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.20%.The business had revenue of $75.67 million during the quarter, compared to analysts’ expectations of $76.04 million. During the same period last year, the firm posted $0.44 EPS. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities research analysts expect that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Analyst Upgrades and Downgrades

FCPT has been the topic of a number of recent analyst reports. Robert W. Baird set a $29.00 price target on Four Corners Property Trust in a research report on Wednesday, October 29th. Wells Fargo & Company cut their price objective on Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 25th. Citigroup reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Monday, January 5th. Barclays dropped their price target on Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Four Corners Property Trust in a report on Friday, January 9th. Two equities research 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, the stock currently has an average rating of “Hold” and a consensus target price of $28.00.

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.