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

JPMorgan Chase & Co. boosted its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 20.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 611,782 shares of the financial services provider’s stock after purchasing an additional 104,480 shares during the quarter. JPMorgan Chase & Co.’s holdings in Four Corners Property Trust were worth $14,927,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of FCPT. State Street Corp grew its holdings in shares of 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 buying an additional 116,711 shares during the period. Geode Capital Management LLC lifted its holdings in Four Corners Property Trust by 2.6% during the second quarter. Geode Capital Management LLC now owns 2,671,928 shares of the financial services provider’s stock worth $71,910,000 after acquiring an additional 68,415 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in 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 acquiring an additional 417,134 shares during the period. Hudson Bay Capital Management LP grew its stake in Four Corners Property Trust by 42.9% in the second quarter. Hudson Bay Capital Management LP now owns 1,443,164 shares of the financial services provider’s stock valued at $38,836,000 after acquiring an additional 433,108 shares during the period. Finally, Marshall Wace LLP increased its holdings in shares of Four Corners Property Trust by 6.8% in the second 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 in the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FCPT. Citigroup reiterated a “market perform” rating on shares of Four Corners Property Trust in a research report on Monday, January 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Friday, January 9th. Evercore reduced their target price 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 note on Monday, December 15th. Finally, Wells Fargo & Company cut their price target on Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 25th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.00.

Four Corners Property Trust Stock Up 0.2%

FCPT stock opened at $25.71 on Wednesday. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 23.37 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 $29.81. The business has a 50 day moving average price of $24.49 and a two-hundred day moving average price of $24.44. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.36.

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

Four Corners Property Trust Company Profile

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.