State of Alaska Department of Revenue Has $2.75 Million Stake in Four Corners Property Trust, Inc. (NYSE:FCPT)

State of Alaska Department of Revenue raised its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 101,169 shares of the financial services provider’s stock after acquiring an additional 3,983 shares during the period. State of Alaska Department of Revenue’s holdings in Four Corners Property Trust were worth $2,745,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. FMR LLC grew its holdings in shares of Four Corners Property Trust by 30.6% in the 3rd quarter. FMR LLC now owns 13,930,746 shares of the financial services provider’s stock worth $408,310,000 after purchasing an additional 3,268,064 shares during the last quarter. Geode Capital Management LLC boosted its position in Four Corners Property Trust by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,357,175 shares of the financial services provider’s stock valued at $69,101,000 after buying an additional 27,552 shares in the last quarter. Principal Financial Group Inc. grew its stake in Four Corners Property Trust by 6.1% during the third quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider’s stock worth $51,996,000 after buying an additional 102,662 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Four Corners Property Trust by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,518,075 shares of the financial services provider’s stock worth $44,495,000 after buying an additional 63,856 shares in the last quarter. Finally, Boston Trust Walden Corp raised its stake in shares of Four Corners Property Trust by 9.5% in the third quarter. Boston Trust Walden Corp now owns 1,332,684 shares of the financial services provider’s stock valued at $39,061,000 after acquiring an additional 115,924 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on FCPT. UBS Group started coverage on Four Corners Property Trust in a research report on Thursday, November 14th. They set a “buy” rating and a $33.00 price target on the stock. Barclays lowered their target price on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.40.

Four Corners Property Trust Stock Performance

FCPT stock opened at $27.92 on Monday. The business’s fifty day moving average is $27.75 and its 200-day moving average is $28.22. The company has a market cap of $2.70 billion, a P/E ratio of 26.09 and a beta of 1.14. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38. Four Corners Property Trust, Inc. has a twelve month low of $22.38 and a twelve month high of $30.93.

About Four Corners Property Trust

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.