NJ State Employees Deferred Compensation Plan Buys New Holdings in Four Corners Property Trust, Inc. (NYSE:FCPT)

NJ State Employees Deferred Compensation Plan bought a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,400 shares of the financial services provider’s stock, valued at approximately $213,000.

Several other hedge funds have also recently added to or reduced their stakes in FCPT. AE Wealth Management LLC raised its holdings in Four Corners Property Trust by 6.4% in the third quarter. AE Wealth Management LLC now owns 62,886 shares of the financial services provider’s stock valued at $1,395,000 after acquiring an additional 3,775 shares in the last quarter. SG Americas Securities LLC raised its holdings in Four Corners Property Trust by 227.7% during the third quarter. SG Americas Securities LLC now owns 64,272 shares of the financial services provider’s stock worth $1,426,000 after purchasing an additional 44,656 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in Four Corners Property Trust by 14.9% during the third quarter. Exchange Traded Concepts LLC now owns 161,521 shares of the financial services provider’s stock worth $3,584,000 after purchasing an additional 20,920 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Four Corners Property Trust by 8.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,431 shares of the financial services provider’s stock worth $1,030,000 after purchasing an additional 3,788 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Four Corners Property Trust by 60.8% during the third quarter. Mackenzie Financial Corp now owns 15,032 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 5,685 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Stock Performance

Shares of Four Corners Property Trust stock traded down $0.04 during trading on Friday, reaching $23.44. The company’s stock had a trading volume of 291,730 shares, compared to its average volume of 511,778. The company has a 50-day moving average price of $23.86 and a two-hundred day moving average price of $23.58. The firm has a market cap of $2.16 billion, a PE ratio of 21.74 and a beta of 1.00. Four Corners Property Trust, Inc. has a fifty-two week low of $20.51 and a fifty-two week high of $27.60. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.35.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Thursday, February 15th. The financial services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.13). The business had revenue of $65.14 million during the quarter, compared to analyst estimates of $65.23 million. Four Corners Property Trust had a net margin of 38.04% and a return on equity of 7.78%. The business’s revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 earnings per share. On average, analysts forecast that Four Corners Property Trust, Inc. will post 1.64 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.345 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.38 annualized dividend and a yield of 5.89%. Four Corners Property Trust’s dividend payout ratio is currently 127.78%.

Analysts Set New Price Targets

A number of analysts have weighed in on FCPT shares. Raymond James cut their price objective on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a report on Monday, January 8th. Wells Fargo & Company raised their price objective on shares of Four Corners Property Trust from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th.

About Four Corners Property Trust

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.