Four Corners Property Trust, Inc. (NYSE:FCPT) Short Interest Up 34.4% in August

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FCPT. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Wells Fargo & Company raised shares of Four Corners Property Trust to a “strong-buy” rating in a research note on Monday, August 12th. Evercore ISI upped their price target 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 target price on shares of 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. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.00.

Hedge Funds Weigh In On Four Corners Property Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new position in Four Corners Property Trust during the 2nd quarter worth approximately $452,000. Algert Global LLC purchased a new position in shares of Four Corners Property Trust during the 2nd quarter valued at approximately $229,000. The Manufacturers Life Insurance Company increased its holdings in shares of Four Corners Property Trust by 4.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,170 shares of the financial services provider’s stock valued at $1,238,000 after purchasing an additional 2,063 shares in the last quarter. Earnest Partners LLC grew its stake in Four Corners Property Trust by 31.3% in the 2nd quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider’s stock valued at $78,667,000 after acquiring an additional 759,749 shares during the period. Finally, AQR Capital Management LLC grew its stake in Four Corners Property Trust by 14.4% in the 2nd quarter. AQR Capital Management LLC now owns 22,485 shares of the financial services provider’s stock valued at $555,000 after acquiring an additional 2,825 shares during the period. 98.66% of the stock is owned by hedge funds and other institutional investors.

Four Corners Property Trust Stock Up 0.4 %

Shares of NYSE:FCPT traded up $0.12 during trading on Monday, reaching $30.52. The stock had a trading volume of 120,635 shares, compared to its average volume of 496,769. Four Corners Property Trust has a one year low of $20.51 and a one year high of $30.62. The company has a market capitalization of $2.83 billion, a P/E ratio of 28.41 and a beta of 1.10. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.43. The firm’s 50-day simple moving average is $27.39 and its 200 day simple moving average is $25.30.

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 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 prior 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, 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.