Renaissance Technologies LLC Purchases Shares of 57,000 Four Corners Property Trust, Inc. (FCPT)

Renaissance Technologies LLC purchased a new stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 57,000 shares of the financial services provider’s stock, valued at approximately $1,301,000. Renaissance Technologies LLC owned approximately 0.10% of Four Corners Property Trust as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Creative Planning increased its stake in shares of Four Corners Property Trust by 3.9% in the first quarter. Creative Planning now owns 6,782 shares of the financial services provider’s stock valued at $155,000 after buying an additional 252 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in Four Corners Property Trust by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 24,398 shares of the financial services provider’s stock valued at $557,000 after buying an additional 300 shares during the last quarter. Arizona State Retirement System boosted its stake in Four Corners Property Trust by 1.3% in the first quarter. Arizona State Retirement System now owns 31,238 shares of the financial services provider’s stock valued at $713,000 after buying an additional 400 shares during the last quarter. Mason Street Advisors LLC boosted its stake in Four Corners Property Trust by 7.0% in the first quarter. Mason Street Advisors LLC now owns 14,002 shares of the financial services provider’s stock valued at $320,000 after buying an additional 915 shares during the last quarter. Finally, Beacon Trust Co. boosted its stake in Four Corners Property Trust by 4.8% in the first quarter. Beacon Trust Co. now owns 21,514 shares of the financial services provider’s stock valued at $477,000 after buying an additional 978 shares during the last quarter. 85.86% of the stock is currently owned by institutional investors.

Four Corners Property Trust, Inc. (NYSE:FCPT) traded up 0.20% during midday trading on Thursday, hitting $25.37. 40,382 shares of the company traded hands. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 18.72 and a beta of 0.15. The stock’s 50-day moving average price is $24.96 and its 200 day moving average price is $23.64. Four Corners Property Trust, Inc. has a 12-month low of $16.71 and a 12-month high of $25.94.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by $0.01. The business had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $33.33 million. Four Corners Property Trust had a return on equity of 17.21% and a net margin of 63.74%. Four Corners Property Trust’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 EPS. On average, equities analysts forecast that Four Corners Property Trust, Inc. will post $1.03 EPS for the current year.

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Several equities research analysts recently weighed in on FCPT shares. Raymond James Financial, Inc. upgraded shares of Four Corners Property Trust from a “market perform” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Tuesday, August 15th. BidaskClub upgraded shares of Four Corners Property Trust from a “hold” rating to a “buy” rating in a research note on Tuesday. Ladenburg Thalmann Financial Services reiterated a “buy” rating and issued a $27.00 target price (up previously from $24.00) on shares of Four Corners Property Trust in a research note on Wednesday, August 16th. Zacks Investment Research upgraded shares of Four Corners Property Trust from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Wednesday, July 12th. Finally, Canaccord Genuity started coverage on shares of Four Corners Property Trust in a research note on Tuesday, July 18th. They issued a “hold” rating and a $26.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Four Corners Property Trust has an average rating of “Buy” and a consensus target price of $26.75.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc is a self-administered company and real estate investment trust (REIT), which owns, acquires and leases properties for use in the restaurant and food service related industries. The Company operates through two segments: real estate operations and restaurant operations.

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

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