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

Four Corners Property Trust, Inc. (NYSE:FCPT) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 2,750,000 shares, a decrease of 9.8% from the September 30th total of 3,050,000 shares. Based on an average daily trading volume, of 579,500 shares, the short-interest ratio is presently 4.7 days.

Hedge Funds Weigh In On Four Corners Property Trust

A number of hedge funds have recently bought and sold shares of FCPT. Covestor Ltd grew its position in shares of Four Corners Property Trust by 23.2% during the 1st quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 470 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Four Corners Property Trust by 24.0% during the 3rd quarter. GAMMA Investing LLC now owns 4,205 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 814 shares in the last quarter. Arizona State Retirement System increased its position in shares of Four Corners Property Trust by 3.5% in the second quarter. Arizona State Retirement System now owns 25,753 shares of the financial services provider’s stock worth $635,000 after purchasing an additional 863 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Four Corners Property Trust by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,570 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 921 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in Four Corners Property Trust by 25,000.0% during the first quarter. Larson Financial Group LLC now owns 1,004 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,000 shares during the period. 98.66% of the stock is owned by institutional investors.

Four Corners Property Trust Stock Performance

Four Corners Property Trust stock traded down $0.32 during trading hours on Thursday, hitting $27.56. The company had a trading volume of 863,741 shares, compared to its average volume of 501,852. Four Corners Property Trust has a one year low of $20.89 and a one year high of $30.93. The firm has a market cap of $2.54 billion, a PE ratio of 26.18 and a beta of 1.10. The firm has a 50-day moving average of $29.02 and a 200 day moving average of $26.47. 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 (NYSE:FCPT) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.14). The firm had revenue of $66.48 million during the quarter, compared to the consensus estimate of $63.70 million. Four Corners Property Trust had a net margin of 37.01% and a return on equity of 7.72%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 earnings per share. On average, sell-side analysts expect that Four Corners Property Trust will post 1.66 earnings per share for the current year.

Four Corners Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.345 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.38 annualized dividend and a dividend yield of 5.01%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 128.97%.

Analyst Ratings Changes

A number of research firms have recently issued reports on FCPT. Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Evercore ISI raised their target price on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Finally, Raymond James increased their price target on Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st.

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.