State of Alaska Department of Revenue Raises Stock Holdings in Four Corners Property Trust Inc (NYSE:FCPT)

State of Alaska Department of Revenue increased its holdings in shares of Four Corners Property Trust Inc (NYSE:FCPT) by 10.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,908 shares of the financial services provider’s stock after purchasing an additional 4,635 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.07% of Four Corners Property Trust worth $1,362,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Royal London Asset Management Ltd. bought a new stake in shares of Four Corners Property Trust in the 1st quarter valued at approximately $26,000. Marshall Wace North America L.P. increased its holdings in shares of Four Corners Property Trust by 37.8% in the 1st quarter. Marshall Wace North America L.P. now owns 2,328 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 638 shares during the period. Osborn Williams & Donohoe LLC purchased a new position in Four Corners Property Trust during the 1st quarter worth $101,000. Raymond James Trust N.A. purchased a new position in Four Corners Property Trust during the 1st quarter worth $206,000. Finally, Fox Run Management L.L.C. acquired a new stake in Four Corners Property Trust during the 2nd quarter worth about $208,000. Hedge funds and other institutional investors own 89.88% of the company’s stock.

FCPT has been the subject of several analyst reports. Barclays initiated coverage on Four Corners Property Trust in a report on Wednesday, May 15th. They issued an “equal weight” rating and a $29.00 price objective for the company. Zacks Investment Research upgraded shares of Four Corners Property Trust from a “sell” rating to a “hold” rating and set a $30.00 price objective for the company in a research report on Thursday, July 25th. Berenberg Bank upgraded shares of Four Corners Property Trust from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Boenning Scattergood reiterated a “buy” rating and set a $30.00 price target on shares of Four Corners Property Trust in a research report on Wednesday, April 24th. Finally, ValuEngine downgraded shares of Four Corners Property Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Four Corners Property Trust presently has an average rating of “Buy” and a consensus target price of $31.40.

Shares of Four Corners Property Trust stock traded down $0.11 during trading on Tuesday, reaching $26.74. The company had a trading volume of 1,115 shares, compared to its average volume of 430,079. The firm has a market capitalization of $1.85 billion, a P/E ratio of 19.16 and a beta of 0.18. The firm’s fifty day simple moving average is $27.54. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.77 and a current ratio of 3.77. Four Corners Property Trust Inc has a fifty-two week low of $24.58 and a fifty-two week high of $29.85.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Tuesday, July 30th. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.10). The firm had revenue of $39.57 million during the quarter, compared to the consensus estimate of $40.64 million. Four Corners Property Trust had a return on equity of 10.75% and a net margin of 48.31%. Four Corners Property Trust’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the company posted $0.35 EPS. On average, equities analysts forecast that Four Corners Property Trust Inc will post 1.45 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a $0.287 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.15 annualized dividend and a dividend yield of 4.29%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 81.56%.

Four Corners Property Trust Profile

FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio primarily by acquiring additional real estate to lease, on a net basis, for use in the restaurant and food industry.

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Institutional Ownership by Quarter for Four Corners Property Trust (NYSE:FCPT)

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