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

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in FCPT. AQR Capital Management LLC raised its holdings in Four Corners Property Trust by 20.3% in the 1st quarter. AQR Capital Management LLC now owns 34,273 shares of the financial services provider’s stock valued at $984,000 after acquiring an additional 5,786 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Four Corners Property Trust by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,416 shares of the financial services provider’s stock worth $1,648,000 after purchasing an additional 2,508 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Four Corners Property Trust by 13.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 681,843 shares of the financial services provider’s stock worth $19,569,000 after purchasing an additional 79,023 shares during the period. Jane Street Group LLC acquired a new position in Four Corners Property Trust in the first quarter valued at about $2,627,000. Finally, Vanguard Personalized Indexing Management LLC raised its stake in Four Corners Property Trust by 13.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,322 shares of the financial services provider’s stock valued at $412,000 after purchasing an additional 1,840 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FCPT has been the topic of a number of analyst reports. Barclays reduced their price objective on shares of 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Four Corners Property Trust in a report on Friday, January 9th. Evercore decreased their price objective on shares of Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating on the stock in a research note on Monday, December 15th. Wells Fargo & Company cut their target price on Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 25th. Finally, Citigroup reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a report on Monday, January 5th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $28.00.

Four Corners Property Trust Stock Performance

Shares of Four Corners Property Trust stock opened at $24.35 on Tuesday. The company’s 50 day moving average price is $24.01 and its two-hundred day moving average price is $24.45. The firm has a market capitalization of $2.67 billion, a P/E ratio of 22.13 and a beta of 0.83. Four Corners Property Trust, Inc. has a fifty-two week low of $22.78 and a fifty-two week high of $29.81. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.13 and a quick ratio of 0.13.

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

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.