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

Jennison Associates LLC grew its position in shares of Four Corners Property Trust, Inc. (NYSE:FCPT) by 4.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,982 shares of the financial services provider’s stock after purchasing an additional 1,408 shares during the period. Jennison Associates LLC’s holdings in Four Corners Property Trust were worth $734,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Arizona State Retirement System boosted its holdings in shares of Four Corners Property Trust by 2.2% during the fourth quarter. Arizona State Retirement System now owns 25,318 shares of the financial services provider’s stock valued at $641,000 after acquiring an additional 539 shares during the period. Eagle Bay Advisors LLC raised its holdings in Four Corners Property Trust by 66.7% during the 4th quarter. Eagle Bay Advisors LLC now owns 1,500 shares of the financial services provider’s stock worth $38,000 after buying an additional 600 shares during the period. State of Alaska Department of Revenue raised its holdings in Four Corners Property Trust by 0.7% during the 4th quarter. State of Alaska Department of Revenue now owns 98,248 shares of the financial services provider’s stock worth $2,484,000 after buying an additional 700 shares during the period. Cerity Partners LLC raised its holdings in Four Corners Property Trust by 3.9% during the 4th quarter. Cerity Partners LLC now owns 22,654 shares of the financial services provider’s stock worth $573,000 after buying an additional 849 shares during the period. Finally, CWM LLC grew its stake in Four Corners Property Trust by 183.5% during the 4th quarter. CWM LLC now owns 1,372 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 888 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Stock Up 1.9 %

Shares of FCPT stock opened at $25.21 on Thursday. Four Corners Property Trust, Inc. has a 12 month low of $20.51 and a 12 month high of $27.60. The firm has a market cap of $2.32 billion, a PE ratio of 23.56 and a beta of 1.08. The stock has a 50 day moving average of $24.47 and a 200-day moving average of $24.18. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.40.

Four Corners Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.345 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.38 dividend on an annualized basis and a yield of 5.48%. Four Corners Property Trust’s payout ratio is 128.97%.

Wall Street Analysts Forecast Growth

Separately, JMP Securities initiated coverage on Four Corners Property Trust in a research note on Monday. They set a “market perform” rating on the stock. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.33.

Insider Buying and Selling

In related news, CEO William H. Lenehan bought 6,230 shares of Four Corners Property Trust stock in a transaction on Monday, June 10th. The shares were purchased at an average price of $24.05 per share, for a total transaction of $149,831.50. Following the completion of the acquisition, the chief executive officer now owns 620,394 shares in the company, valued at $14,920,475.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Four Corners Property Trust news, Director John S. Moody sold 7,230 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $24.56, for a total transaction of $177,568.80. Following the transaction, the director now owns 61,108 shares of the company’s stock, valued at approximately $1,500,812.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William H. Lenehan purchased 6,230 shares of the stock in a transaction on Monday, June 10th. The shares were bought at an average cost of $24.05 per share, for a total transaction of $149,831.50. Following the transaction, the chief executive officer now directly owns 620,394 shares in the company, valued at $14,920,475.70. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

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.