Maryland State Retirement & Pension System Increases Stock Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

Maryland State Retirement & Pension System boosted its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 4.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 32,576 shares of the financial services provider’s stock after purchasing an additional 1,284 shares during the period. Maryland State Retirement & Pension System’s holdings in Four Corners Property Trust were worth $884,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Intech Investment Management LLC lifted its stake in Four Corners Property Trust by 193.1% in the 4th quarter. Intech Investment Management LLC now owns 72,527 shares of the financial services provider’s stock worth $1,968,000 after purchasing an additional 47,785 shares in the last quarter. Mystic Asset Management Inc. purchased a new position in shares of Four Corners Property Trust in the fourth quarter worth about $414,000. William Blair Investment Management LLC lifted its position in Four Corners Property Trust by 2.4% in the fourth quarter. William Blair Investment Management LLC now owns 1,399,446 shares of the financial services provider’s stock valued at $37,981,000 after purchasing an additional 33,450 shares during the last quarter. Signaturefd LLC boosted its position in Four Corners Property Trust by 10.4% during the 4th quarter. Signaturefd LLC now owns 6,141 shares of the financial services provider’s stock valued at $167,000 after buying an additional 579 shares during the period. Finally, Cibc World Markets Corp purchased a new stake in shares of Four Corners Property Trust during the fourth quarter worth about $245,000. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Trading Down 1.4 %

Shares of FCPT stock opened at $28.13 on Monday. The company has a market cap of $2.81 billion, a PE ratio of 26.29 and a beta of 1.16. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.11 and a quick ratio of 0.11. The stock’s 50 day simple moving average is $27.99 and its two-hundred day simple moving average is $28.40. Four Corners Property Trust, Inc. has a 1 year low of $22.38 and a 1 year high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.28 by $0.16. Four Corners Property Trust had a return on equity of 7.54% and a net margin of 37.48%. Research analysts predict that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date is Monday, March 31st. Four Corners Property Trust’s dividend payout ratio is currently 132.71%.

Analysts Set New Price Targets

FCPT has been the topic of a number of research reports. Wells Fargo & Company lifted their target price on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, March 10th. Barclays reduced their price target on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Four Corners Property Trust currently has an average rating of “Moderate Buy” and an average target price of $30.20.

Four Corners Property Trust Profile

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.