Four Corners Property Trust, Inc. (NYSE:FCPT) Short Interest Update

Four Corners Property Trust, Inc. (NYSE:FCPT) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 3,400,000 shares, a growth of 34.4% from the August 15th total of 2,530,000 shares. Based on an average trading volume of 556,200 shares, the short-interest ratio is presently 6.1 days.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FCPT. Wells Fargo & Company raised Four Corners Property Trust to a “strong-buy” rating in a research report on Monday, August 12th. Raymond James increased their price objective on Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Evercore ISI boosted their target price on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Finally, JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.00.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC bought a new stake in shares of Four Corners Property Trust in the 2nd quarter valued at about $452,000. Algert Global LLC bought a new stake in Four Corners Property Trust in the second quarter valued at approximately $229,000. The Manufacturers Life Insurance Company raised its holdings in Four Corners Property Trust by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 50,170 shares of the financial services provider’s stock worth $1,238,000 after purchasing an additional 2,063 shares during the period. Earnest Partners LLC boosted its position in shares of Four Corners Property Trust by 31.3% during the second quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider’s stock worth $78,667,000 after purchasing an additional 759,749 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Four Corners Property Trust by 14.4% during the second quarter. AQR Capital Management LLC now owns 22,485 shares of the financial services provider’s stock worth $555,000 after purchasing an additional 2,825 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Price Performance

Shares of NYSE:FCPT traded up $0.09 during midday trading on Monday, reaching $30.49. The company’s stock had a trading volume of 367,128 shares, compared to its average volume of 498,189. The business’s fifty day simple moving average is $27.39 and its 200-day simple moving average is $25.30. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.13 and a quick ratio of 0.13. Four Corners Property Trust has a fifty-two week low of $20.51 and a fifty-two week high of $30.62. The company has a market capitalization of $2.83 billion, a P/E ratio of 28.49 and a beta of 1.10.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). Four Corners Property Trust had a net margin of 37.01% and a return on equity of 7.72%. The firm had revenue of $66.48 million during the quarter, compared to the consensus estimate of $63.70 million. During the same quarter in the previous year, the business posted $0.42 earnings per share. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, equities research analysts expect that Four Corners Property Trust will post 1.66 EPS for the current fiscal year.

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.