Four Corners Property Trust, Inc. $FCPT Stake Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in Four Corners Property Trust, Inc. (NYSE:FCPT) by 20.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 611,782 shares of the financial services provider’s stock after purchasing an additional 104,480 shares during the period. JPMorgan Chase & Co.’s holdings in Four Corners Property Trust were worth $14,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its holdings in shares of Four Corners Property Trust by 80.1% during the third quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 463 shares during the period. Rye Brook Capital LLC increased its holdings in shares of Four Corners Property Trust by 0.4% in the 3rd quarter. Rye Brook Capital LLC now owns 123,100 shares of the financial services provider’s stock worth $3,004,000 after acquiring an additional 500 shares during the period. Arizona State Retirement System lifted its position in Four Corners Property Trust by 1.9% in the 3rd quarter. Arizona State Retirement System now owns 29,730 shares of the financial services provider’s stock valued at $725,000 after purchasing an additional 554 shares during the last quarter. Lazard Asset Management LLC lifted its position in Four Corners Property Trust by 1.1% in the 2nd quarter. Lazard Asset Management LLC now owns 54,519 shares of the financial services provider’s stock valued at $1,467,000 after purchasing an additional 568 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in Four Corners Property Trust by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 94,900 shares of the financial services provider’s stock valued at $2,554,000 after purchasing an additional 647 shares during the period. 98.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FCPT shares. Raymond James Financial dropped their price target on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 17th. Evercore decreased their price objective on Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating for the company in a report on Monday, December 15th. Weiss Ratings restated a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Friday, January 9th. Citigroup reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Monday, January 5th. Finally, Citizens Jmp upgraded Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 price target for the company in a research report on Wednesday. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Four Corners Property Trust has a consensus rating of “Hold” and a consensus target price of $27.86.

Insider Activity

In other news, CEO William H. Lenehan purchased 7,865 shares of the stock in a transaction dated Friday, March 6th. The shares were bought at an average cost of $25.49 per share, for a total transaction of $200,478.85. Following the transaction, the chief executive officer owned 765,845 shares in the company, valued at $19,521,389.05. This trade represents a 1.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.20% of the company’s stock.

Four Corners Property Trust Trading Down 0.7%

Shares of NYSE:FCPT opened at $23.86 on Friday. The company has a 50 day moving average of $24.98 and a 200-day moving average of $24.38. The firm has a market cap of $2.62 billion, a P/E ratio of 21.69 and a beta of 0.82. Four Corners Property Trust, Inc. has a twelve month low of $22.78 and a twelve month high of $28.98. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.36.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. Four Corners Property Trust had a net margin of 38.20% and a return on equity of 7.39%. The business had revenue of $75.67 million during the quarter, compared to analysts’ expectations of $76.04 million. During the same period last year, the firm posted $0.44 earnings per share. The business’s revenue was up 10.7% on a year-over-year basis. As a group, analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.3665 per share. This represents a $1.47 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 132.73%.

About Four Corners Property Trust

Four Corners Property Trust is a publicly traded real estate investment trust focused on acquiring and managing single-tenant commercial properties subject to long-term, triple-net leases. The company targets industrial, manufacturing, distribution, office and retail facilities leased to creditworthy tenants. By concentrating on net-lease structures, Four Corners seeks to generate stable, predictable income streams and mitigate operating cost variability.

The firm’s core activities include sourcing off-market and broker-sourced acquisition opportunities, conducting rigorous credit and property due diligence, and structuring lease agreements that shift property taxes, insurance and maintenance expenses to tenants.