JPMorgan Chase & Co. Raises Stake in Four Corners Property Trust, Inc. (NYSE:FCPT)

JPMorgan Chase & Co. increased its stake in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 6.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 417,304 shares of the financial services provider's stock after purchasing an additional 24,856 shares during the quarter. JPMorgan Chase & Co. owned 0.43% of Four Corners Property Trust worth $11,326,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Four Corners Property Trust by 7.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 63,406 shares of the financial services provider's stock worth $1,722,000 after acquiring an additional 4,437 shares during the period. Prudential Financial Inc. lifted its stake in Four Corners Property Trust by 1.1% in the 4th quarter. Prudential Financial Inc. now owns 97,975 shares of the financial services provider's stock worth $2,765,000 after purchasing an additional 1,022 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Four Corners Property Trust by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 10,874,938 shares of the financial services provider's stock valued at $295,146,000 after purchasing an additional 240,230 shares during the last quarter. LPL Financial LLC grew its position in shares of Four Corners Property Trust by 10.4% during the fourth quarter. LPL Financial LLC now owns 28,783 shares of the financial services provider's stock valued at $781,000 after purchasing an additional 2,721 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Four Corners Property Trust in the fourth quarter worth about $524,000. Institutional investors own 98.66% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays dropped their price target on Four Corners Property Trust from $31.00 to $30.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Wells Fargo & Company raised their target price on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Monday, March 10th. Finally, JMP Securities restated a "market perform" rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Four Corners Property Trust has an average rating of "Moderate Buy" and a consensus price target of $30.20.

Four Corners Property Trust Trading Up 0.9 %

Shares of NYSE FCPT traded up $0.26 during trading hours on Tuesday, hitting $27.75. 534,830 shares of the company traded hands, compared to its average volume of 617,023. The company's 50 day moving average price is $28.02 and its 200 day moving average price is $28.14. Four Corners Property Trust, Inc. has a 12 month low of $22.38 and a 12 month high of $30.93. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 25.93 and a beta of 0.93. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.36.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.16. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. On average, equities research analysts anticipate that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 5.12%. The ex-dividend date of this dividend is Monday, March 31st. Four Corners Property Trust's payout ratio is currently 132.71%.

About Four Corners Property Trust

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.