JPMorgan Chase & Co. reduced its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 36.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,479 shares of the financial services provider’s stock after selling 30,758 shares during the quarter. JPMorgan Chase & Co.’s holdings in Four Corners Property Trust were worth $1,358,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FCPT. Virginia Retirement Systems ET AL lifted its stake in Four Corners Property Trust by 154.1% in the third quarter. Virginia Retirement Systems ET AL now owns 110,300 shares of the financial services provider’s stock valued at $2,749,000 after buying an additional 66,900 shares during the period. Legal & General Group Plc lifted its stake in Four Corners Property Trust by 7.8% in the third quarter. Legal & General Group Plc now owns 270,793 shares of the financial services provider’s stock valued at $6,749,000 after buying an additional 19,547 shares during the period. American International Group Inc. lifted its stake in Four Corners Property Trust by 6.1% in the third quarter. American International Group Inc. now owns 48,010 shares of the financial services provider’s stock valued at $1,196,000 after buying an additional 2,751 shares during the period. Cortina Asset Management LLC lifted its stake in Four Corners Property Trust by 0.9% in the third quarter. Cortina Asset Management LLC now owns 276,723 shares of the financial services provider’s stock valued at $6,896,000 after buying an additional 2,428 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in Four Corners Property Trust by 6.1% in the third quarter. Ameriprise Financial Inc. now owns 758,284 shares of the financial services provider’s stock valued at $18,896,000 after buying an additional 43,379 shares during the period. 86.39% of the stock is currently owned by institutional investors.

Four Corners Property Trust, Inc. (NYSE:FCPT) opened at $24.49 on Thursday. Four Corners Property Trust, Inc. has a 12-month low of $20.40 and a 12-month high of $26.96. The firm has a market capitalization of $1,500.00 and a P/E ratio of 17.37.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.49%. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, December 28th. Four Corners Property Trust’s dividend payout ratio is presently 78.01%.

Several brokerages have issued reports on FCPT. BidaskClub lowered Four Corners Property Trust from a “hold” rating to a “sell” rating in a research note on Thursday, September 28th. Ladenburg Thalmann Financial Services reissued a “buy” rating and issued a $28.00 price target (up from $27.00) on shares of Four Corners Property Trust in a research note on Friday, September 22nd. Finally, Zacks Investment Research lowered Four Corners Property Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, November 22nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $27.25.

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About Four Corners Property Trust

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.

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

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