Four Corners Property Trust, Inc. (NYSE:FCPT) Short Interest Down 31.7% in January

Four Corners Property Trust, Inc. (NYSE:FCPT) saw a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 2,678,696 shares, a drop of 31.7% from the January 15th total of 3,923,409 shares. Based on an average daily volume of 901,006 shares, the short-interest ratio is presently 3.0 days. Currently, 2.6% of the shares of the company are sold short. Currently, 2.6% of the shares of the company are sold short. Based on an average daily volume of 901,006 shares, the short-interest ratio is presently 3.0 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC raised its position in shares of Four Corners Property Trust by 80.1% in the third quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock worth $25,000 after buying an additional 463 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Four Corners Property Trust by 829.2% in the 4th 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. First Horizon Corp boosted its position in shares of Four Corners Property Trust by 147.4% during the 4th quarter. First Horizon Corp now owns 1,190 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 709 shares during the last quarter. Huntington National Bank increased its position in shares of Four Corners Property Trust by 114.1% in the fourth quarter. Huntington National Bank now owns 1,569 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 836 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new position in shares of Four Corners Property Trust in the fourth quarter worth approximately $36,000. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

Four Corners Property Trust Price Performance

NYSE FCPT traded down $0.08 during trading hours on Friday, hitting $24.35. The company had a trading volume of 1,621,987 shares, compared to its average volume of 814,841. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.12 and a current ratio of 0.13. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 22.13 and a beta of 0.83. Four Corners Property Trust has a 52 week low of $22.78 and a 52 week high of $29.81. The firm has a 50 day simple moving average of $23.98 and a 200 day simple moving average of $24.48.

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 firm had revenue of $75.67 million for the quarter, compared to analysts’ expectations of $76.04 million. During the same period in the prior year, the business posted $0.44 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. Equities research analysts expect that Four Corners Property Trust will post 1.68 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on FCPT shares. 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. Robert W. Baird set a $29.00 price target on Four Corners Property Trust in a research note on Wednesday, October 29th. Evercore decreased their price objective on Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating for the company in a report on Monday, December 15th. Wall Street Zen raised shares of Four Corners Property Trust from a “sell” rating to a “hold” rating in a report on Sunday, October 19th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Friday, January 9th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average 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.