Jennison Associates LLC Acquires New Shares in Four Corners Property Trust, Inc. (NYSE:FCPT)

Jennison Associates LLC acquired a new stake in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 40,552 shares of the financial services provider’s stock, valued at approximately $1,207,000.

Several other large investors also recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Four Corners Property Trust by 8.5% in the fourth quarter. BlackRock Inc. now owns 14,280,434 shares of the financial services provider’s stock worth $425,128,000 after buying an additional 1,114,408 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of Four Corners Property Trust by 10.9% in the third quarter. Neuberger Berman Group LLC now owns 667,561 shares of the financial services provider’s stock worth $17,083,000 after purchasing an additional 65,343 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Four Corners Property Trust by 276.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 655,005 shares of the financial services provider’s stock worth $16,762,000 after purchasing an additional 480,797 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Four Corners Property Trust by 105.0% in the third quarter. Thrivent Financial for Lutherans now owns 521,594 shares of the financial services provider’s stock worth $13,347,000 after purchasing an additional 267,192 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Four Corners Property Trust by 7.1% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 497,100 shares of the financial services provider’s stock worth $12,721,000 after purchasing an additional 33,100 shares during the period. 89.71% of the stock is owned by institutional investors.

Shares of FCPT opened at $27.81 on Tuesday. Four Corners Property Trust, Inc. has a 12-month low of $12.80 and a 12-month high of $32.47. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 25.99 and a beta of 0.84. The stock’s 50-day moving average price is $27.50 and its 200 day moving average price is $27.17.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results 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%. Equities research analysts expect that Four Corners Property Trust, Inc. will post 1.39 EPS for the current year.

A number of research firms have recently commented on FCPT. Zacks Investment Research lowered Four Corners Property Trust from a “buy” rating to a “hold” rating in a research note on Thursday, February 18th. Robert W. Baird began coverage on Four Corners Property Trust in a research note on Wednesday, December 16th. They issued an “outperform” rating on the stock. TheStreet upgraded Four Corners Property Trust from a “c+” rating to a “b-” rating in a research note on Tuesday, December 8th. Finally, Raymond James lifted their price objective on Four Corners Property Trust from $32.00 to $34.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 12th.

Four Corners Property Trust Company 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.

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

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