Jennison Associates LLC Takes $1.21 Million Position in Four Corners Property Trust, Inc. (NYSE:FCPT)


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Jennison Associates LLC bought a new stake in Four Corners Property Trust, Inc. (NYSE:FCPT) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 40,552 shares of the financial services provider’s stock, valued at approximately $1,207,000. Jennison Associates LLC owned approximately 0.06% of Four Corners Property Trust as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the company. Crescent Capital Consulting LLC acquired a new stake in Four Corners Property Trust during the fourth quarter worth about $31,000. Key Financial Inc acquired a new stake in Four Corners Property Trust during the fourth quarter worth about $45,000. Van ECK Associates Corp raised its stake in Four Corners Property Trust by 23.4% during the third quarter. Van ECK Associates Corp now owns 2,122 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 403 shares during the period. Whittier Trust Co. raised its stake in Four Corners Property Trust by 155.7% during the third quarter. Whittier Trust Co. now owns 2,531 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 1,541 shares during the period. Finally, Marshall Wace North America L.P. raised its stake in Four Corners Property Trust by 37.8% during the first quarter. Marshall Wace North America L.P. now owns 2,328 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 638 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

NYSE FCPT opened at $27.81 on Tuesday. Four Corners Property Trust, Inc. has a 52 week low of $12.80 and a 52 week high of $32.47. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.98. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 25.99 and a beta of 0.84. The company has a 50-day moving average price of $27.50 and a two-hundred day moving average price of $27.17.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings data on Tuesday, February 16th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). Four Corners Property Trust had a net margin of 45.45% and a return on equity of 10.54%. As a group, equities research analysts expect that Four Corners Property Trust, Inc. will post 1.39 earnings per share for the current fiscal year.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Four Corners Property Trust from a “buy” rating to a “hold” rating in a research note on Thursday, February 18th. Robert W. Baird started coverage on shares of Four Corners Property Trust in a research report on Wednesday, December 16th. They issued an “outperform” rating for the company. Raymond James upped their target price on shares of Four Corners Property Trust from $32.00 to $34.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 12th. Finally, TheStreet upgraded shares of Four Corners Property Trust from a “c+” rating to a “b-” rating in a research report on Tuesday, December 8th.

Four Corners Property Trust Profile

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant 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.

Further Reading: When can a hold rating present a buying opportunity?

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Institutional Ownership by Quarter for Four Corners Property Trust (NYSE:FCPT)

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