Short Interest in Four Corners Property Trust, Inc. (NYSE:FCPT) Increases By 35.0%

Four Corners Property Trust, Inc. (NYSE:FCPT) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 3,923,409 shares, an increase of 35.0% from the December 31st total of 2,906,703 shares. Currently, 3.7% of the company’s stock are sold short. Based on an average daily trading volume, of 1,026,350 shares, the days-to-cover ratio is currently 3.8 days. Based on an average daily trading volume, of 1,026,350 shares, the days-to-cover ratio is currently 3.8 days. Currently, 3.7% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FCPT. AQR Capital Management LLC boosted its holdings in shares of Four Corners Property Trust by 20.3% during the first quarter. AQR Capital Management LLC now owns 34,273 shares of the financial services provider’s stock valued at $984,000 after acquiring an additional 5,786 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Four Corners Property Trust by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,416 shares of the financial services provider’s stock valued at $1,648,000 after purchasing an additional 2,508 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Four Corners Property Trust by 13.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 681,843 shares of the financial services provider’s stock valued at $19,569,000 after purchasing an additional 79,023 shares during the period. Jane Street Group LLC bought a new position in Four Corners Property Trust in the 1st quarter worth about $2,627,000. Finally, ZWJ Investment Counsel Inc. increased its stake in shares of Four Corners Property Trust by 16.5% in the second quarter. ZWJ Investment Counsel Inc. now owns 8,258 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 1,172 shares during the period. 98.66% of the stock is owned by institutional investors and hedge funds.

Four Corners Property Trust Stock Performance

Shares of FCPT traded down $0.02 during mid-day trading on Tuesday, hitting $24.48. The stock had a trading volume of 211,098 shares, compared to its average volume of 916,441. Four Corners Property Trust has a fifty-two week low of $22.78 and a fifty-two week high of $29.81. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.39. The company has a market cap of $2.60 billion, a PE ratio of 22.44 and a beta of 0.83. The company’s fifty day simple moving average is $23.76 and its two-hundred day simple moving average is $24.55.

Four Corners Property Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.3665 per share. The ex-dividend date was Wednesday, December 31st. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.36. This represents a $1.47 annualized dividend and a yield of 6.0%. Four Corners Property Trust’s payout ratio is presently 134.86%.

Analysts Set New Price Targets

A number of brokerages have commented on FCPT. Wells Fargo & Company cut their price objective on shares of Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 25th. Barclays cut their price target on Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Monday, October 20th. Wall Street Zen upgraded Four Corners Property Trust from a “sell” rating to a “hold” rating in a research note on Sunday, October 19th. Evercore ISI dropped their price objective on Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating on the stock in a report on Monday, December 15th. Finally, Citigroup reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Monday, January 5th. Two 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, the stock has a consensus rating of “Hold” and a consensus price target of $28.00.

About Four Corners Property Trust

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.