Jennison Associates LLC Invests $723,000 in Four Corners Property Trust, Inc. (NYSE:FCPT)

Jennison Associates LLC bought a new position in Four Corners Property Trust, Inc. (NYSE:FCPT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 28,574 shares of the financial services provider’s stock, valued at approximately $723,000.

Other large investors have also recently modified their holdings of the company. FMR LLC grew its stake in Four Corners Property Trust by 12.1% during the third quarter. FMR LLC now owns 9,831,411 shares of the financial services provider’s stock valued at $218,159,000 after acquiring an additional 1,061,170 shares in the last quarter. Richard Bernstein Advisors LLC purchased a new position in Four Corners Property Trust during the third quarter valued at approximately $4,878,000. Rye Brook Capital LLC grew its stake in Four Corners Property Trust by 59.0% during the fourth quarter. Rye Brook Capital LLC now owns 421,000 shares of the financial services provider’s stock valued at $10,651,000 after acquiring an additional 156,300 shares in the last quarter. Deutsche Bank AG grew its stake in Four Corners Property Trust by 34.9% during the third quarter. Deutsche Bank AG now owns 507,017 shares of the financial services provider’s stock valued at $11,251,000 after acquiring an additional 131,262 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Four Corners Property Trust by 1.0% during the third quarter. Vanguard Group Inc. now owns 10,224,604 shares of the financial services provider’s stock valued at $226,884,000 after acquiring an additional 102,504 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on FCPT. Raymond James reduced their price objective on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, January 8th. Wells Fargo & Company boosted their price target on shares of Four Corners Property Trust from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th.

Four Corners Property Trust Trading Down 0.2 %

Shares of FCPT opened at $23.44 on Friday. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 21.70 and a beta of 1.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.12 and a current ratio of 0.12. Four Corners Property Trust, Inc. has a fifty-two week low of $20.51 and a fifty-two week high of $27.60. The firm has a 50 day moving average price of $23.86 and a 200-day moving average price of $23.59.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Thursday, February 15th. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.13). The business had revenue of $65.14 million during the quarter, compared to the consensus estimate of $65.23 million. Four Corners Property Trust had a return on equity of 7.78% and a net margin of 38.04%. The company’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 earnings per share. As a group, equities research analysts forecast that Four Corners Property Trust, Inc. will post 1.64 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.345 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 5.89%. Four Corners Property Trust’s payout ratio is 127.78%.

Four Corners Property Trust Company Profile

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.