VIRGINIA RETIREMENT SYSTEMS ET Al Invests $3.58 Million in Four Corners Property Trust, Inc. $FCPT

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 146,669 shares of the financial services provider’s stock, valued at approximately $3,579,000.

Other large investors have also recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH purchased a new stake in Four Corners Property Trust in the 2nd quarter worth approximately $27,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Four Corners Property Trust in the second quarter worth $37,000. Smartleaf Asset Management LLC raised its holdings in shares of Four Corners Property Trust by 31.0% during the second quarter. Smartleaf Asset Management LLC now owns 3,728 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 883 shares in the last quarter. CWM LLC raised its holdings in shares of Four Corners Property Trust by 85.8% during the second quarter. CWM LLC now owns 5,528 shares of the financial services provider’s stock worth $149,000 after acquiring an additional 2,553 shares in the last quarter. Finally, Signaturefd LLC boosted its position in Four Corners Property Trust by 30.9% during the second quarter. Signaturefd LLC now owns 7,555 shares of the financial services provider’s stock valued at $203,000 after purchasing an additional 1,783 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Stock Performance

FCPT opened at $23.06 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market cap of $2.45 billion, a PE ratio of 21.16 and a beta of 0.85. The stock has a 50-day moving average of $23.65 and a 200-day moving average of $25.01. Four Corners Property Trust, Inc. has a 52-week low of $22.80 and a 52-week high of $29.81.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Tuesday, October 28th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. The firm had revenue of $74.15 million during the quarter, compared to analyst estimates of $71.86 million. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.04%.The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.43 EPS. As a group, equities research analysts forecast that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.3665 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.47 annualized dividend and a dividend yield of 6.4%. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.36. Four Corners Property Trust’s payout ratio is currently 134.86%.

Analyst Ratings Changes

Several brokerages have weighed in on FCPT. Evercore ISI dropped their target price on Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating on the stock in a research report on Monday, December 15th. Wall Street Zen raised Four Corners Property Trust from a “sell” rating to a “hold” rating in a research note on Sunday, October 19th. Weiss Ratings restated a “hold (c)” rating on shares of Four Corners Property Trust in a report on Tuesday, October 14th. Robert W. Baird set a $29.00 price objective on shares of Four Corners Property Trust in a research report on Wednesday, October 29th. Finally, Barclays reduced their target price on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Monday, October 20th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $28.00.

Insider Transactions at Four Corners Property Trust

In other news, Director Douglas B. Hansen bought 1,984 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were acquired at an average cost of $23.64 per share, for a total transaction of $46,901.76. Following the purchase, the director owned 78,247 shares of the company’s stock, valued at $1,849,759.08. This represents a 2.60% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.20% of the company’s stock.

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.