Four Corners Property Trust, Inc. (NYSE:FCPT) Sees Large Growth in Short Interest

Four Corners Property Trust, Inc. (NYSE:FCPT) was the recipient of a large increase in short interest in 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 trading volume of 912,651 shares, the short-interest ratio is currently 3.8 days. Approximately 3.2% of the shares of the stock are sold short. Approximately 3.2% of the shares of the stock are sold short. Based on an average trading volume of 912,651 shares, the short-interest ratio is currently 3.8 days.

Insiders Place Their Bets

In related news, CEO William H. Lenehan bought 7,865 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was purchased at an average cost of $25.49 per share, for a total transaction of $200,478.85. Following the transaction, the chief executive officer owned 765,845 shares in the company, valued at $19,521,389.05. The trade was a 1.04% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Four Corners Property Trust

Several institutional investors have recently bought and sold shares of FCPT. Parallel Advisors LLC boosted its stake in shares of Four Corners Property Trust by 80.1% in the 3rd 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 during the last quarter. Farther Finance Advisors LLC increased its holdings in 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 worth $26,000 after acquiring an additional 995 shares during the last quarter. First Horizon Corp lifted its holdings in Four Corners Property Trust by 147.4% during the fourth quarter. First Horizon Corp now owns 1,190 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 709 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of Four Corners Property Trust in the second quarter worth about $37,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of Four Corners Property Trust during the 4th quarter valued at $36,000. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Price Performance

Shares of NYSE FCPT opened at $25.87 on Tuesday. The company has a market capitalization of $2.84 billion, a PE ratio of 23.51 and a beta of 0.82. The firm has a fifty day simple moving average of $24.90 and a 200 day simple moving average of $24.43. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.36. Four Corners Property Trust has a twelve month low of $22.78 and a twelve month high of $28.98.

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

Four Corners Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.3665 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.47 annualized dividend and a dividend yield of 5.7%. Four Corners Property Trust’s dividend payout ratio is currently 133.64%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FCPT. Weiss Ratings reiterated a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Friday, January 9th. Wells Fargo & Company lowered their target price on 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. Citigroup reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Monday, January 5th. Finally, Evercore reduced 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 research note on Monday, December 15th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Four Corners Property Trust has a consensus rating of “Hold” and an average target price 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.