Short Interest in Four Corners Property Trust, Inc. (NYSE:FCPT) Expands By 35.0%

Four Corners Property Trust, Inc. (NYSE:FCPT) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 3,923,409 shares, an increase of 35.0% from the December 31st total of 2,906,703 shares. Based on an average trading volume of 1,026,350 shares, the short-interest ratio is currently 3.8 days. Approximately 3.7% of the company’s shares are short sold. Approximately 3.7% of the company’s shares are short sold. Based on an average trading volume of 1,026,350 shares, the short-interest ratio is currently 3.8 days.

Analyst Ratings Changes

FCPT has been the topic of a number of analyst reports. Barclays decreased 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 research note on Monday, October 20th. Citigroup reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Monday, January 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Friday, January 9th. Robert W. Baird set a $29.00 price target on shares of Four Corners Property Trust in a research note on Wednesday, October 29th. Finally, Wells Fargo & Company decreased their target price on shares of Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 25th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Four Corners Property Trust has an average rating of “Hold” and an average target price of $28.00.

Institutional Investors Weigh In On Four Corners Property Trust

Several institutional investors have recently made changes to their positions in FCPT. Parallel Advisors LLC lifted its stake in Four Corners Property Trust by 80.1% during the 3rd 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 period. Farther Finance Advisors LLC raised its position in Four Corners Property Trust by 829.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,115 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 995 shares in the last quarter. Trust Co. of Toledo NA OH purchased a new position in shares of Four Corners Property Trust during the 2nd quarter valued at approximately $27,000. First Horizon Corp raised its position in shares of Four Corners Property Trust by 147.4% in the fourth quarter. First Horizon Corp now owns 1,190 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 709 shares during the period. Finally, Elevation Point Wealth Partners LLC purchased a new position in Four Corners Property Trust during the second quarter worth approximately $37,000. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Price Performance

Shares of NYSE:FCPT traded up $0.46 during trading on Friday, hitting $24.65. 1,103,119 shares of the company’s stock were exchanged, compared to its average volume of 908,522. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 22.61 and a beta of 0.85. The business’s 50-day simple moving average is $23.75 and its 200 day simple moving average is $24.57. Four Corners Property Trust has a 52-week low of $22.78 and a 52-week high of $29.81. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a $0.3665 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend was Wednesday, December 31st. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.36. Four Corners Property Trust’s payout ratio is 134.86%.

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.