Teachers Insurance & Annuity Association of America Boosts Stock Position in Four Corners Property Trust Inc (NYSE:FCPT)

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Teachers Insurance & Annuity Association of America raised its holdings in Four Corners Property Trust Inc (NYSE:FCPT) by 19.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,774 shares of the financial services provider’s stock after purchasing an additional 12,118 shares during the quarter. Teachers Insurance & Annuity Association of America’s holdings in Four Corners Property Trust were worth $2,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in FCPT. Dimensional Fund Advisors LP raised its stake in shares of Four Corners Property Trust by 3.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 962,170 shares of the financial services provider’s stock worth $25,209,000 after purchasing an additional 27,864 shares during the period. Geode Capital Management LLC boosted its stake in Four Corners Property Trust by 6.0% in the fourth quarter. Geode Capital Management LLC now owns 712,421 shares of the financial services provider’s stock valued at $18,665,000 after acquiring an additional 40,457 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Four Corners Property Trust by 545.4% in the first quarter. BNP Paribas Arbitrage SA now owns 13,909 shares of the financial services provider’s stock valued at $412,000 after acquiring an additional 11,754 shares during the last quarter. SG Americas Securities LLC boosted its stake in Four Corners Property Trust by 44.8% in the first quarter. SG Americas Securities LLC now owns 14,632 shares of the financial services provider’s stock valued at $433,000 after acquiring an additional 4,525 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of Four Corners Property Trust by 0.9% during the 1st quarter. Rhumbline Advisers now owns 205,847 shares of the financial services provider’s stock valued at $6,093,000 after acquiring an additional 1,766 shares during the period. Hedge funds and other institutional investors own 93.34% of the company’s stock.

A number of equities research analysts recently commented on the stock. Janney Montgomery Scott began coverage on shares of Four Corners Property Trust in a report on Friday, June 21st. They issued a “buy” rating and a $32.00 price target on the stock. Zacks Investment Research lowered Four Corners Property Trust from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. Berenberg Bank raised Four Corners Property Trust from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Barclays initiated coverage on Four Corners Property Trust in a research report on Wednesday, May 15th. They issued an “equal weight” rating and a $29.00 target price for the company. Finally, ValuEngine lowered Four Corners Property Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Four Corners Property Trust presently has an average rating of “Hold” and a consensus price target of $31.40.

NYSE:FCPT traded down $0.12 on Wednesday, reaching $28.55. 12,037 shares of the company’s stock were exchanged, compared to its average volume of 304,105. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 20.26 and a beta of 0.16. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.77 and a quick ratio of 3.77. The stock has a fifty day simple moving average of $27.84 and a 200-day simple moving average of $28.26. Four Corners Property Trust Inc has a 52 week low of $24.58 and a 52 week high of $29.85.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.10). Four Corners Property Trust had a return on equity of 10.75% and a net margin of 48.31%. The business had revenue of $39.57 million during the quarter, compared to the consensus estimate of $40.64 million. During the same period last year, the business posted $0.35 earnings per share. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts predict that Four Corners Property Trust Inc will post 1.44 EPS for the current year.

About Four Corners Property Trust

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.

Further Reading: 12b-1 Fees

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

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