Public Employees Retirement System of Ohio Sells 10,627 Shares of Four Corners Property Trust, Inc. (NYSE:FCPT)

Public Employees Retirement System of Ohio decreased its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 3.7% in the 1st quarter, HoldingsChannel reports. The firm owned 279,045 shares of the financial services provider’s stock after selling 10,627 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Four Corners Property Trust were worth $6,828,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FCPT. Charles Schwab Investment Management Inc. raised its stake in Four Corners Property Trust by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,339,614 shares of the financial services provider’s stock worth $33,892,000 after acquiring an additional 53,517 shares in the last quarter. Norges Bank acquired a new position in Four Corners Property Trust during the fourth quarter worth about $14,546,000. PNC Financial Services Group Inc. raised its stake in Four Corners Property Trust by 31.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,626 shares of the financial services provider’s stock worth $269,000 after acquiring an additional 2,551 shares in the last quarter. Wells Fargo & Company MN raised its stake in Four Corners Property Trust by 50.0% during the fourth quarter. Wells Fargo & Company MN now owns 609,208 shares of the financial services provider’s stock worth $15,413,000 after acquiring an additional 203,047 shares in the last quarter. Finally, Connable Office Inc. acquired a new position in Four Corners Property Trust during the fourth quarter worth about $263,000. Institutional investors own 98.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JMP Securities initiated coverage on Four Corners Property Trust in a research note on Monday, July 8th. They set a “market perform” rating for the company. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $26.33.

Four Corners Property Trust Trading Up 0.0 %

Shares of Four Corners Property Trust stock traded up $0.01 on Tuesday, hitting $27.31. The stock had a trading volume of 10,641 shares, compared to its average volume of 462,709. The stock has a 50 day moving average of $25.05 and a 200 day moving average of $24.31. Four Corners Property Trust, Inc. has a twelve month low of $20.51 and a twelve month high of $27.64. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a market capitalization of $2.51 billion, a P/E ratio of 25.51 and a beta of 1.08.

Four Corners Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.345 dividend. This represents a $1.38 annualized dividend and a dividend yield of 5.05%. The ex-dividend date of this dividend was Friday, June 28th. Four Corners Property Trust’s dividend payout ratio is currently 128.97%.

Insider Activity

In other news, Director John S. Moody sold 7,230 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $24.56, for a total value of $177,568.80. Following the completion of the transaction, the director now owns 61,108 shares of the company’s stock, valued at $1,500,812.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Four Corners Property Trust news, Director John S. Moody sold 7,230 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $24.56, for a total transaction of $177,568.80. Following the completion of the sale, the director now owns 61,108 shares of the company’s stock, valued at approximately $1,500,812.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William H. Lenehan bought 6,230 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were purchased at an average cost of $24.05 per share, with a total value of $149,831.50. Following the transaction, the chief executive officer now directly owns 620,394 shares in the company, valued at approximately $14,920,475.70. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by insiders.

Four Corners Property Trust Company Profile

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.