Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 13.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 392,448 shares of the financial services provider’s stock after acquiring an additional 46,732 shares during the period. JPMorgan Chase & Co. owned 0.41% of Four Corners Property Trust worth $11,503,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of FCPT. Verdence Capital Advisors LLC boosted its stake in Four Corners Property Trust by 4.5% during the third quarter. Verdence Capital Advisors LLC now owns 12,298 shares of the financial services provider’s stock valued at $360,000 after buying an additional 527 shares in the last quarter. MML Investors Services LLC boosted its position in Four Corners Property Trust by 5.6% during the 3rd quarter. MML Investors Services LLC now owns 11,881 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 635 shares during the period. GAMMA Investing LLC lifted its position in Four Corners Property Trust by 24.0% in the 3rd quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock worth $123,000 after buying an additional 814 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Four Corners Property Trust by 3.5% during the 2nd quarter. Arizona State Retirement System now owns 25,753 shares of the financial services provider’s stock valued at $635,000 after acquiring an additional 863 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Four Corners Property Trust by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 921 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on FCPT. UBS Group began coverage on shares of Four Corners Property Trust in a research report on Thursday, November 14th. They issued a “buy” rating and a $33.00 target price for the company. Wells Fargo & Company reissued an “overweight” rating and issued a $32.00 price target (up previously from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. Barclays initiated coverage on shares of Four Corners Property Trust in a research note on Tuesday, December 17th. They issued an “equal weight” rating and a $31.00 target price on the stock. Finally, JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a research note on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Four Corners Property Trust has an average rating of “Moderate Buy” and an average target price of $30.60.

Four Corners Property Trust Stock Down 2.3 %

Shares of FCPT stock opened at $26.28 on Monday. Four Corners Property Trust, Inc. has a one year low of $22.38 and a one year high of $30.93. The stock has a market cap of $2.54 billion, a P/E ratio of 24.56 and a beta of 1.13. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a fifty day moving average price of $28.14 and a 200 day moving average price of $27.92.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). The company had revenue of $66.79 million during the quarter, compared to the consensus estimate of $63.50 million. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $0.42 earnings per share. Analysts predict that Four Corners Property Trust, Inc. will post 1.66 earnings per share for the current year.

Four Corners Property Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.355 per share. This is a boost from Four Corners Property Trust’s previous quarterly dividend of $0.35. This represents a $1.42 annualized dividend and a dividend yield of 5.40%. The ex-dividend date of this dividend is Tuesday, December 31st. Four Corners Property Trust’s dividend payout ratio is 132.71%.

Four Corners Property Trust Profile

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.