JPMorgan Chase & Co. Purchases 104,480 Shares of Four Corners Property Trust, Inc. $FCPT

JPMorgan Chase & Co. grew its position in Four Corners Property Trust, Inc. (NYSE:FCPT) by 20.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 611,782 shares of the financial services provider’s stock after acquiring an additional 104,480 shares during the period. JPMorgan Chase & Co. owned 0.58% of Four Corners Property Trust worth $14,927,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. State Street Corp raised its position in Four Corners Property Trust by 2.0% in the 2nd quarter. State Street Corp now owns 5,811,410 shares of the financial services provider’s stock valued at $158,408,000 after purchasing an additional 116,711 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Four Corners Property Trust by 2.6% in the second quarter. Geode Capital Management LLC now owns 2,671,928 shares of the financial services provider’s stock valued at $71,910,000 after buying an additional 68,415 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of Four Corners Property Trust by 23.9% in the second quarter. Balyasny Asset Management L.P. now owns 2,159,994 shares of the financial services provider’s stock valued at $58,125,000 after buying an additional 417,134 shares during the last quarter. Hudson Bay Capital Management LP lifted its position in Four Corners Property Trust by 42.9% during the 2nd quarter. Hudson Bay Capital Management LP now owns 1,443,164 shares of the financial services provider’s stock worth $38,836,000 after buying an additional 433,108 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in Four Corners Property Trust by 6.8% during the 2nd quarter. Marshall Wace LLP now owns 1,105,522 shares of the financial services provider’s stock worth $29,750,000 after acquiring an additional 70,211 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors.

Four Corners Property Trust Trading Up 0.2%

Shares of NYSE FCPT opened at $25.71 on Wednesday. Four Corners Property Trust, Inc. has a fifty-two week low of $22.78 and a fifty-two week high of $29.81. The firm has a market capitalization of $2.82 billion, a P/E ratio of 23.37 and a beta of 0.82. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.13 and a quick ratio of 0.13. The company’s 50 day simple moving average is $24.49 and its 200 day simple moving average is $24.44.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Wednesday, February 11th. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. The company had revenue of $75.67 million during the quarter, compared to analysts’ expectations of $76.04 million. Four Corners Property Trust had a net margin of 38.20% and a return on equity of 7.39%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. On average, analysts predict that Four Corners Property Trust, Inc. will post 1.68 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FCPT shares. Wells Fargo & Company dropped their target price on shares of Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 25th. Evercore dropped their price objective on shares of Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating for the company in a research report on Monday, December 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Friday, January 9th. Finally, Citigroup reissued a “market perform” rating on shares of Four Corners Property Trust in a research note on Monday, January 5th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $28.00.

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.