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

Four Corners Property Trust, Inc. (NYSE:FCPT) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totalling 3,730,000 shares, a decline of 9.0% from the July 15th total of 4,100,000 shares. Based on an average daily volume of 436,100 shares, the days-to-cover ratio is currently 8.6 days.

Insider Buying and Selling

In other news, Director John S. Moody sold 7,230 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $24.56, for a total value of $177,568.80. Following the completion of the sale, the director now directly owns 61,108 shares in the company, valued at $1,500,812.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director John S. Moody sold 7,230 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $24.56, for a total value of $177,568.80. Following the completion of the sale, the director now owns 61,108 shares of the company’s stock, valued at $1,500,812.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William H. Lenehan bought 6,230 shares of the company’s stock in a transaction on Monday, June 10th. The stock was bought at an average price of $24.05 per share, with a total value of $149,831.50. Following the completion of the acquisition, the chief executive officer now owns 620,394 shares in the company, valued at $14,920,475.70. The disclosure for this purchase can be found here. 1.20% of the stock is owned by company insiders.

Institutional Trading of Four Corners Property Trust

Several institutional investors have recently modified their holdings of the stock. Algert Global LLC acquired a new stake in Four Corners Property Trust during the 2nd quarter worth $229,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Four Corners Property Trust by 4.3% in 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 during the last quarter. Earnest Partners LLC boosted its position in shares of 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 purchasing an additional 759,749 shares during the period. AQR Capital Management LLC boosted its position in shares of 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 purchasing an additional 2,825 shares during the period. Finally, Marshall Wace LLP increased its position in Four Corners Property Trust by 14.3% during the second quarter. Marshall Wace LLP now owns 606,053 shares of the financial services provider’s stock worth $14,951,000 after buying an additional 75,911 shares during the period. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wells Fargo & Company upgraded Four Corners Property Trust to a “strong-buy” rating in a research note on Monday, August 12th. JMP Securities began coverage on Four Corners Property Trust in a research note on Monday, July 8th. They set a “market perform” rating on the stock. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.33.

Four Corners Property Trust Stock Down 0.6 %

NYSE:FCPT traded down $0.16 during mid-day trading on Tuesday, hitting $26.89. The stock had a trading volume of 42,496 shares, compared to its average volume of 475,069. The company has a current ratio of 0.13, a quick ratio of 0.14 and a debt-to-equity ratio of 0.43. Four Corners Property Trust has a twelve month low of $20.51 and a twelve month high of $27.71. The company has a market capitalization of $2.47 billion, a PE ratio of 25.30 and a beta of 1.08. The stock has a 50-day simple moving average of $25.87 and a two-hundred day simple moving average of $24.62.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). Four Corners Property Trust had a return on equity of 7.72% and a net margin of 37.01%. The business had revenue of $66.48 million for the quarter, compared to analysts’ expectations of $63.70 million. During the same period last year, the firm earned $0.42 earnings per share. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. On average, equities research analysts anticipate that Four Corners Property Trust will post 1.65 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.345 per share. The ex-dividend date was Friday, June 28th. This represents a $1.38 dividend on an annualized basis and a yield of 5.13%. Four Corners Property Trust’s payout ratio is currently 128.97%.

About Four Corners Property Trust

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.