Four Corners Property Trust, Inc. (NYSE:FCPT) Short Interest Up 16.8% in February

Four Corners Property Trust, Inc. (NYSE:FCPT) was the target of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 3,476,759 shares, an increase of 16.8% from the February 12th total of 2,976,374 shares. Based on an average daily volume of 912,651 shares, the short-interest ratio is currently 3.8 days. Approximately 3.2% of the shares of the company are sold short. Approximately 3.2% of the shares of the company are sold short. Based on an average daily volume of 912,651 shares, the short-interest ratio is currently 3.8 days.

Four Corners Property Trust Stock Down 0.9%

FCPT opened at $25.46 on Thursday. The company has a 50 day moving average of $24.98 and a 200 day moving average of $24.44. The company has a market cap of $2.79 billion, a PE ratio of 23.14 and a beta of 0.82. Four Corners Property Trust has a 12 month low of $22.78 and a 12 month high of $28.98. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.36.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.20%.The company had revenue of $75.67 million during the quarter, compared to analysts’ expectations of $76.04 million. During the same period in the previous year, the business earned $0.44 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts expect that Four Corners Property Trust will post 1.68 EPS for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a $0.3665 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Tuesday, March 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is 133.64%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FCPT. Citigroup reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research report on Monday, January 5th. Raymond James Financial decreased their price target on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a research note on Tuesday. Evercore lowered their price target on shares of Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating on the stock in a report on Monday, December 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Friday, January 9th. Finally, Wells Fargo & Company reduced their price objective on Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday, November 25th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.83.

Insider Transactions at Four Corners Property Trust

In other Four Corners Property Trust news, CEO William H. Lenehan bought 7,865 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was purchased at an average cost of $25.49 per share, with a total value of $200,478.85. Following the transaction, the chief executive officer directly owned 765,845 shares in the company, valued at $19,521,389.05. This trade represents a 1.04% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is owned by company insiders.

Institutional Trading of Four Corners Property Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in Four Corners Property Trust by 20.3% in the 1st quarter. AQR Capital Management LLC now owns 34,273 shares of the financial services provider’s stock worth $984,000 after purchasing an additional 5,786 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Four Corners Property Trust by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,416 shares of the financial services provider’s stock valued at $1,648,000 after purchasing an additional 2,508 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Four Corners Property Trust by 13.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 681,843 shares of the financial services provider’s stock valued at $19,569,000 after purchasing an additional 79,023 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Four Corners Property Trust in the first quarter worth $2,627,000. Finally, Bank of Montreal Can raised its position in shares of Four Corners Property Trust by 3.1% in the second quarter. Bank of Montreal Can now owns 18,912 shares of the financial services provider’s stock worth $509,000 after buying an additional 568 shares in the last quarter. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Company Profile

Four Corners Property Trust is a publicly traded real estate investment trust focused on acquiring and managing single-tenant commercial properties subject to long-term, triple-net leases. The company targets industrial, manufacturing, distribution, office and retail facilities leased to creditworthy tenants. By concentrating on net-lease structures, Four Corners seeks to generate stable, predictable income streams and mitigate operating cost variability.

The firm’s core activities include sourcing off-market and broker-sourced acquisition opportunities, conducting rigorous credit and property due diligence, and structuring lease agreements that shift property taxes, insurance and maintenance expenses to tenants.