Four Corners Property Trust, Inc. (NYSE:FCPT) Sees Large Drop in Short Interest

Four Corners Property Trust, Inc. (NYSE:FCPTGet Free Report) saw a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 2,480,000 shares, a drop of 8.5% from the February 29th total of 2,710,000 shares. Based on an average trading volume of 531,600 shares, the days-to-cover ratio is currently 4.7 days.

Analyst Ratings Changes

A number of analysts have issued reports on FCPT shares. Wells Fargo & Company raised their target price on Four Corners Property Trust from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Raymond James decreased their target price on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a research report on Monday, January 8th.

Read Our Latest Analysis on Four Corners Property Trust

Institutional Investors Weigh In On Four Corners Property Trust

Several large investors have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of Four Corners Property Trust by 12.1% in the third quarter. FMR LLC now owns 9,831,411 shares of the financial services provider’s stock worth $218,159,000 after buying an additional 1,061,170 shares during the period. Norges Bank purchased a new position in shares of Four Corners Property Trust in the fourth quarter worth about $22,201,000. Millennium Management LLC increased its holdings in shares of Four Corners Property Trust by 3,063.1% in the second quarter. Millennium Management LLC now owns 822,438 shares of the financial services provider’s stock worth $21,869,000 after buying an additional 796,437 shares during the period. BlackRock Inc. increased its holdings in shares of Four Corners Property Trust by 3.7% in the second quarter. BlackRock Inc. now owns 15,934,776 shares of the financial services provider’s stock worth $404,743,000 after buying an additional 564,173 shares during the period. Finally, Balyasny Asset Management LLC purchased a new position in shares of Four Corners Property Trust in the third quarter worth about $10,213,000. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Stock Performance

NYSE:FCPT traded down $0.65 during trading hours on Tuesday, reaching $23.76. The stock had a trading volume of 481,348 shares, compared to its average volume of 513,713. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a 50 day simple moving average of $23.86 and a 200 day simple moving average of $23.52. Four Corners Property Trust has a 12-month low of $20.51 and a 12-month high of $27.60. The stock has a market cap of $2.19 billion, a P/E ratio of 22.00 and a beta of 1.00.

Four Corners Property Trust (NYSE:FCPTGet Free Report) last posted its quarterly earnings results on Thursday, February 15th. The financial services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.13). Four Corners Property Trust had a return on equity of 7.78% and a net margin of 38.04%. The company had revenue of $65.14 million during the quarter, compared to the consensus estimate of $65.23 million. During the same period in the previous year, the business earned $0.41 earnings per share. Four Corners Property Trust’s revenue was up 13.6% on a year-over-year basis. On average, research analysts forecast that Four Corners Property Trust will post 1.64 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be paid a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a yield of 5.81%. The ex-dividend date of this dividend is Wednesday, March 27th. Four Corners Property Trust’s dividend payout ratio is 127.78%.

Four Corners Property Trust Company Profile

(Get Free Report)

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.

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