Short Interest in Four Corners Property Trust, Inc. (NYSE:FCPT) Expands By 31.8%

Four Corners Property Trust, Inc. (NYSE:FCPT) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 5,350,000 shares, an increase of 31.8% from the February 28th total of 4,060,000 shares. Approximately 5.4% of the shares of the company are sold short. Based on an average daily volume of 768,500 shares, the days-to-cover ratio is currently 7.0 days.

Institutional Trading of Four Corners Property Trust

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in Four Corners Property Trust by 234.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 817 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Four Corners Property Trust by 165.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,379 shares of the financial services provider’s stock valued at $38,000 after buying an additional 860 shares in the last quarter. VSM Wealth Advisory LLC bought a new position in shares of Four Corners Property Trust during the 4th quarter worth about $39,000. GF Fund Management CO. LTD. acquired a new stake in shares of Four Corners Property Trust during the 4th quarter valued at about $46,000. Finally, Synergy Investment Management LLC acquired a new stake in shares of Four Corners Property Trust during the 4th quarter valued at about $48,000. Institutional investors own 98.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Barclays lowered their price target on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Wells Fargo & Company raised their target price on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, March 10th. Finally, JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.20.

Four Corners Property Trust Stock Performance

Shares of Four Corners Property Trust stock traded down $0.02 during midday trading on Tuesday, hitting $28.69. The company had a trading volume of 504,638 shares, compared to its average volume of 586,984. Four Corners Property Trust has a 1-year low of $22.38 and a 1-year high of $30.93. The business’s 50 day simple moving average is $28.15 and its two-hundred day simple moving average is $28.35. The stock has a market cap of $2.87 billion, a PE ratio of 26.81 and a beta of 1.16. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.11 and a quick ratio of 0.11.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.16. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. As a group, equities analysts predict that Four Corners Property Trust will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.355 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.42 annualized dividend and a yield of 4.95%. Four Corners Property Trust’s dividend payout ratio (DPR) is 132.71%.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.