JPMorgan Chase & Co. Has $11.50 Million Stake in Four Corners Property Trust, Inc. (NYSE:FCPT)

JPMorgan Chase & Co. grew its stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 13.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 392,448 shares of the financial services provider’s stock after acquiring an additional 46,732 shares during the quarter. JPMorgan Chase & Co.’s holdings in Four Corners Property Trust were worth $11,503,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Truvestments Capital LLC bought a new position in Four Corners Property Trust during the third quarter worth about $51,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Four Corners Property Trust by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock worth $106,000 after buying an additional 921 shares in the last quarter. Vestcor Inc acquired a new position in shares of Four Corners Property Trust during the 3rd quarter worth approximately $109,000. GAMMA Investing LLC grew its position in shares of 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 valued at $123,000 after acquiring an additional 814 shares during the period. Finally, Cape ANN Savings Bank acquired a new position in shares of Four Corners Property Trust during the 3rd quarter worth about $200,000. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Performance

NYSE FCPT opened at $26.28 on Monday. The stock has a fifty day simple moving average of $28.14 and a 200 day simple moving average of $27.92. Four Corners Property Trust, Inc. has a twelve month low of $22.38 and a twelve month high of $30.93. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 24.56 and a beta of 1.13. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.14). The business had revenue of $66.79 million for 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 firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.42 EPS. Sell-side analysts expect that Four Corners Property Trust, Inc. will post 1.66 EPS for the current year.

Four Corners Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 5.40%. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Tuesday, December 31st. Four Corners Property Trust’s payout ratio is presently 132.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FCPT shares. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a research note on Tuesday, December 10th. UBS Group started coverage on shares of Four Corners Property Trust in a research report on Thursday, November 14th. They set a “buy” rating and a $33.00 price objective for the company. Barclays assumed coverage on shares of Four Corners Property Trust in a research report on Tuesday, December 17th. They set an “equal weight” rating and a $31.00 price objective for the company. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 price target (up from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.60.

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.