Four Corners Property Trust, Inc. (NYSE:FCPT) Short Interest Up 31.8% in March

Four Corners Property Trust, Inc. (NYSE:FCPT) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 5,350,000 shares, a growth of 31.8% from the February 28th total of 4,060,000 shares. Based on an average daily trading volume, of 768,500 shares, the days-to-cover ratio is currently 7.0 days. Approximately 5.4% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of analysts have weighed in on FCPT shares. Barclays lowered their price target on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company upped their target price on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, March 10th. Finally, JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.20.

Four Corners Property Trust Price Performance

Four Corners Property Trust stock traded down $0.02 on Tuesday, reaching $28.69. The company’s stock had a trading volume of 504,638 shares, compared to its average volume of 586,984. The business’s fifty day moving average price is $28.15 and its 200 day moving average price is $28.35. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.11 and a current ratio of 0.11. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 26.81 and a beta of 1.16. Four Corners Property Trust has a twelve month low of $22.38 and a twelve month high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.16. Four Corners Property Trust had a return on equity of 7.54% and a net margin of 37.48%. Equities analysts expect that Four Corners Property Trust will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.355 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.95%. Four Corners Property Trust’s payout ratio is 132.71%.

Institutional Trading of Four Corners Property Trust

Several hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC increased its stake in shares of Four Corners Property Trust by 91.2% in the 4th quarter. SG Americas Securities LLC now owns 9,872 shares of the financial services provider’s stock valued at $268,000 after buying an additional 4,708 shares during the period. Geode Capital Management LLC raised its holdings in Four Corners Property Trust by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,357,175 shares of the financial services provider’s stock worth $69,101,000 after purchasing an additional 27,552 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Four Corners Property Trust by 1.3% during the 4th quarter. Bank of New York Mellon Corp now owns 891,425 shares of the financial services provider’s stock worth $24,193,000 after purchasing an additional 11,131 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Four Corners Property Trust by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,612,978 shares of the financial services provider’s stock valued at $43,776,000 after purchasing an additional 94,903 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in shares of Four Corners Property Trust by 21.0% in the 3rd quarter. Citigroup Inc. now owns 201,872 shares of the financial services provider’s stock valued at $5,917,000 after purchasing an additional 35,059 shares during the last quarter. 98.66% of the stock is owned by institutional investors.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.