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

JPMorgan Chase & Co. boosted its holdings in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 13.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 392,448 shares of the financial services provider's stock after purchasing an additional 46,732 shares during the quarter. JPMorgan Chase & Co. owned about 0.41% of Four Corners Property Trust worth $11,503,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of FCPT. FMR LLC boosted its holdings in Four Corners Property Trust by 30.6% in the 3rd quarter. FMR LLC now owns 13,930,746 shares of the financial services provider's stock valued at $408,310,000 after purchasing an additional 3,268,064 shares in the last quarter. Earnest Partners LLC lifted its holdings in Four Corners Property Trust by 31.3% in the second quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider's stock valued at $78,667,000 after acquiring an additional 759,749 shares during the period. Geode Capital Management LLC boosted its position in shares of Four Corners Property Trust by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,357,175 shares of the financial services provider's stock worth $69,101,000 after purchasing an additional 27,552 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Four Corners Property Trust by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider's stock worth $51,996,000 after purchasing an additional 102,662 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Four Corners Property Trust by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,518,075 shares of the financial services provider's stock valued at $44,495,000 after purchasing an additional 63,856 shares in the last quarter. 98.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FCPT. UBS Group began 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 target price on the stock. JMP Securities restated a "market perform" rating on shares of Four Corners Property Trust in a research report on Tuesday, December 10th. Wells Fargo & Company reiterated an "overweight" rating and issued a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st. Finally, Barclays started coverage on shares of Four Corners Property Trust in a report on Tuesday, December 17th. They issued an "equal weight" rating and a $31.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $30.60.

Four Corners Property Trust Stock Down 2.3 %

FCPT stock opened at $26.26 on Monday. The company has a 50 day moving average price of $28.14 and a two-hundred day moving average price of $27.92. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a market capitalization of $2.54 billion, a P/E ratio of 24.54 and a beta of 1.13. Four Corners Property Trust, Inc. has a one year low of $22.38 and a one year high of $30.93.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last released 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 during the quarter, compared to analyst estimates 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 for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. As a group, 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. Stockholders of record on Tuesday, December 31st will be given 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 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date is Tuesday, December 31st. Four Corners Property Trust's payout ratio is presently 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.