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

Jennison Associates LLC acquired a new position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,269 shares of the financial services provider's stock, valued at approximately $524,000.

Several other institutional investors and hedge funds have also bought and sold shares of FCPT. CWM LLC grew its position in shares of Four Corners Property Trust by 15.0% during the 1st quarter. CWM LLC now owns 2,975 shares of the financial services provider's stock worth $85,000 after buying an additional 389 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Four Corners Property Trust by 5.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,755 shares of the financial services provider's stock valued at $238,000 after purchasing an additional 450 shares during the period. Palisades Investment Partners LLC grew its position in Four Corners Property Trust by 1.5% in the 1st quarter. Palisades Investment Partners LLC now owns 31,762 shares of the financial services provider's stock valued at $912,000 after purchasing an additional 459 shares during the period. Mariner LLC boosted its holdings in Four Corners Property Trust by 2.8% during the 4th quarter. Mariner LLC now owns 17,098 shares of the financial services provider's stock worth $464,000 after acquiring an additional 467 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its holdings in Four Corners Property Trust by 4.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 12,988 shares of the financial services provider's stock worth $357,000 after acquiring an additional 504 shares during the last quarter. Institutional investors own 98.66% of the company's stock.

Four Corners Property Trust Stock Down 0.8%

Shares of NYSE FCPT traded down $0.20 during trading on Friday, reaching $26.37. The company had a trading volume of 164,326 shares, compared to its average volume of 709,109. The business's 50-day moving average is $27.14 and its 200 day moving average is $27.59. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.40. The stock has a market cap of $2.65 billion, a PE ratio of 24.65 and a beta of 0.84. Four Corners Property Trust, Inc. has a 12-month low of $25.00 and a 12-month high of $30.93.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. Four Corners Property Trust had a return on equity of 7.46% and a net margin of 37.57%. The firm had revenue of $71.48 million for the quarter, compared to analysts' expectations of $67.17 million. During the same period in the previous year, the firm earned $0.43 EPS. The business's quarterly revenue was up 7.5% on a year-over-year basis. As a group, equities analysts forecast that Four Corners Property Trust, Inc. will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.38%. The ex-dividend date was Monday, June 30th. Four Corners Property Trust's dividend payout ratio (DPR) is presently 132.71%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FCPT shares. Wells Fargo & Company lowered their price objective on Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, June 2nd. UBS Group decreased their price target on Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Four Corners Property Trust currently has an average rating of "Moderate Buy" and an average price target of $29.40.

Insider Transactions at Four Corners Property Trust

In other news, Director John S. Moody sold 7,667 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $27.42, for a total transaction of $210,229.14. Following the sale, the director directly owned 53,821 shares of the company's stock, valued at $1,475,771.82. This represents a 12.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.20% of the company's stock.

Four Corners Property Trust Company 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.