Short Interest in Four Corners Property Trust, Inc. (NYSE:FCPT) Drops By 33.1%

Four Corners Property Trust, Inc. (NYSE:FCPT) saw a large decline in short interest in the month of December. As of December 15th, there was short interest totaling 2,521,746 shares, a decline of 33.1% from the November 30th total of 3,772,214 shares. Based on an average trading volume of 756,990 shares, the short-interest ratio is presently 3.3 days. Approximately 2.4% of the company’s stock are sold short. Approximately 2.4% of the company’s stock are sold short. Based on an average trading volume of 756,990 shares, the short-interest ratio is presently 3.3 days.

Insider Transactions at Four Corners Property Trust

In related news, Director Douglas B. Hansen purchased 1,984 shares of Four Corners Property Trust stock in a transaction on Friday, October 31st. The stock was acquired at an average cost of $23.64 per share, for a total transaction of $46,901.76. Following the completion of the acquisition, the director owned 78,247 shares of the company’s stock, valued at $1,849,759.08. This trade represents a 2.60% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Four Corners Property Trust

A number of institutional investors have recently added to or reduced their stakes in FCPT. Inspire Investing LLC lifted its position in shares of Four Corners Property Trust by 2.2% during the 2nd quarter. Inspire Investing LLC now owns 17,495 shares of the financial services provider’s stock worth $471,000 after buying an additional 383 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Four Corners Property Trust by 80.1% during the third quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 463 shares during the last quarter. Rye Brook Capital LLC increased its position in shares of Four Corners Property Trust by 0.4% during the third quarter. Rye Brook Capital LLC now owns 123,100 shares of the financial services provider’s stock valued at $3,004,000 after acquiring an additional 500 shares during the last quarter. Arizona State Retirement System lifted its holdings in Four Corners Property Trust by 1.9% during the third quarter. Arizona State Retirement System now owns 29,730 shares of the financial services provider’s stock worth $725,000 after acquiring an additional 554 shares during the period. Finally, Bank of Montreal Can boosted its position in 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 purchasing an additional 568 shares during the last quarter. 98.66% of the stock is owned by institutional investors.

Four Corners Property Trust Stock Up 0.1%

Shares of FCPT stock traded up $0.02 during trading hours on Monday, reaching $23.45. The company had a trading volume of 864,097 shares, compared to its average volume of 863,430. The business has a fifty day simple moving average of $23.73 and a 200-day simple moving average of $25.06. Four Corners Property Trust has a 12 month low of $22.80 and a 12 month high of $29.81. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 13.24 and a beta of 0.86. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.12 and a quick ratio of 0.12.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.04%.The business had revenue of $74.15 million during the quarter, compared to analyst estimates of $71.86 million. Four Corners Property Trust’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 EPS. On average, research analysts expect that Four Corners Property Trust will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a dividend of $0.3665 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.36. This represents a $1.47 dividend on an annualized basis and a dividend yield of 6.3%. Four Corners Property Trust’s payout ratio is 130.28%.

Wall Street Analysts Forecast Growth

FCPT has been the topic of a number of research analyst reports. Robert W. Baird set a $29.00 price objective on shares of Four Corners Property Trust in a research report on Wednesday, October 29th. Barclays cut their price target on Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Monday, October 20th. Wall Street Zen upgraded Four Corners Property Trust from a “sell” rating to a “hold” rating in a report on Sunday, October 19th. Evercore ISI cut their target price on 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. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Four Corners Property Trust currently has a consensus rating of “Hold” and an average price target of $28.00.

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.