Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Shorted: Short Interest Down 36.3% in September

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FCPT. Weiss Ratings lowered shares of Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. UBS Group restated a “buy” rating and set a $30.00 price objective on shares of Four Corners Property Trust in a research report on Thursday, July 9th. Huntington began coverage on shares of Four Corners Property Trust in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 price target on the stock. Barclays upped their target price on shares of Four Corners Property Trust from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, September 4th. Finally, Jefferies Financial Group set a $28.00 price objective on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $27.73.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. IFP Advisors Inc lifted its position in shares of Four Corners Property Trust by 105.8% during the 2nd quarter. IFP Advisors Inc now owns 1,134 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 583 shares during the period. Bessemer Group Inc. grew its holdings in shares of Four Corners Property Trust by 326.1% in the 1st quarter. Bessemer Group Inc. now owns 1,649 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 1,262 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Four Corners Property Trust in the 2nd quarter worth approximately $45,000. Nykredit A S purchased a new position in Four Corners Property Trust in the 2nd quarter valued at approximately $49,000. Finally, EverSource Wealth Advisors LLC increased its stake in Four Corners Property Trust by 44.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,181 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 667 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Four Corners Property Trust Stock Performance

Shares of Four Corners Property Trust stock traded up $0.17 on Friday, hitting $21.97. The stock had a trading volume of 1,199,389 shares, compared to its average volume of 1,310,445. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 19.80 and a beta of 0.80. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.39. Four Corners Property Trust has a 52-week low of $20.85 and a 52-week high of $26.86. The company’s 50 day moving average price is $23.48 and its 200 day moving average price is $24.49.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.16. The firm had revenue of $78.42 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. On average, research analysts anticipate that Four Corners Property Trust will post 1.76 EPS for the current year.

Four Corners Property Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be paid a $0.1265 dividend. This represents a $1.52 annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Thursday, December 31st. Four Corners Property Trust’s dividend payout ratio (DPR) is 132.43%.

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.