Four Corners Property Trust, Inc. (NYSE:FCPT) Stock Short Interest Declines 36.3%

Four Corners Property Trust, Inc. (NYSE:FCPT) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 2,894,303 shares, a decline of 36.3% from the September 15th total of 4,546,919 shares. Approximately 2.7% of the company’s shares are short sold. Based on an average daily volume of 1,550,303 shares, the days-to-cover ratio is presently 1.9 days.

Wall Street Analyst Weigh In

Several brokerages have commented on FCPT. Citigroup restated a “market outperform” rating on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Barclays lifted their target price on shares of Four Corners Property Trust from $29.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, September 4th. Jefferies Financial Group set a $28.00 price target on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Weiss Ratings downgraded shares of Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $28.00 price objective on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $27.73.

Institutional Trading of Four Corners Property Trust

A number of hedge funds have recently modified their holdings of the business. Rye Brook Capital LLC raised its stake in Four Corners Property Trust by 15.0% during the third quarter. Rye Brook Capital LLC now owns 168,105 shares of the financial services provider’s stock valued at $3,658,000 after buying an additional 21,960 shares during the last quarter. Pensionfund Sabic boosted its holdings in Four Corners Property Trust by 36.6% in the third quarter. Pensionfund Sabic now owns 28,000 shares of the financial services provider’s stock worth $609,000 after acquiring an additional 7,500 shares in the last quarter. Pensionfund PDN grew its stake in shares of Four Corners Property Trust by 29.2% in the third quarter. Pensionfund PDN now owns 57,500 shares of the financial services provider’s stock worth $1,251,000 after acquiring an additional 13,000 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Four Corners Property Trust in the second quarter worth $249,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Four Corners Property Trust in the second quarter worth $45,000. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Trading Up 0.8%

FCPT opened at $21.97 on Friday. The stock has a market cap of $2.41 billion, a PE ratio of 19.80 and a beta of 0.80. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.39. The business has a 50 day moving average of $23.48 and a 200-day moving average of $24.49. Four Corners Property Trust has a 52 week low of $20.85 and a 52 week high of $26.86.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.16. The company had revenue of $78.42 million for the quarter, compared to analyst estimates of $79.02 million. Four Corners Property Trust had a return on equity of 7.35% and a net margin of 38.70%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 earnings per share. Equities research analysts predict that Four Corners Property Trust will post 1.76 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be given a dividend of $0.1265 per share. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $1.52 annualized dividend and a yield of 6.9%. Four Corners Property Trust’s dividend payout ratio (DPR) is currently 136.04%.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc is a real estate investment trust that owns and manages a portfolio of primarily restaurant and retail properties. The company generally leases its properties to tenants under long-term, net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

Four Corners was formed through a 2015 spin-off from Darden Restaurants, Inc, separating Darden’s real estate assets from its restaurant operating business.