Four Corners Property Trust, Inc. (NYSE:FCPT) Short Interest Update

Four Corners Property Trust, Inc. (NYSE:FCPT) saw a large decline in short interest in December. As of December 15th, there was short interest totaling 2,521,746 shares, a decline of 33.1% from the November 30th total of 3,772,214 shares. Approximately 2.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 756,990 shares, the days-to-cover ratio is presently 3.3 days. Based on an average daily trading volume, of 756,990 shares, the days-to-cover ratio is presently 3.3 days. Approximately 2.4% of the shares of the stock are sold short.

Insider Buying and Selling at Four Corners Property Trust

In other news, Director Douglas B. Hansen acquired 1,984 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were acquired at an average cost of $23.64 per share, with a total value of $46,901.76. Following the completion of the purchase, the director directly owned 78,247 shares of the company’s stock, valued at $1,849,759.08. The trade was a 2.60% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Four Corners Property Trust

A number of large investors have recently bought and sold shares of FCPT. Vanguard Group Inc. lifted its stake in shares of Four Corners Property Trust by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 11,712,512 shares of the financial services provider’s stock valued at $285,785,000 after purchasing an additional 237,155 shares during the period. State Street Corp increased its holdings in Four Corners Property Trust by 2.0% in the second quarter. State Street Corp now owns 5,811,410 shares of the financial services provider’s stock worth $158,408,000 after purchasing an additional 116,711 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Four Corners Property Trust by 7.2% in the third quarter. Victory Capital Management Inc. now owns 3,902,064 shares of the financial services provider’s stock valued at $95,210,000 after buying an additional 262,581 shares during the period. Geode Capital Management LLC lifted its stake in Four Corners Property Trust by 2.6% in the second quarter. Geode Capital Management LLC now owns 2,671,928 shares of the financial services provider’s stock valued at $71,910,000 after buying an additional 68,415 shares during the period. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Four Corners Property Trust by 23.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,159,994 shares of the financial services provider’s stock worth $58,125,000 after buying an additional 417,134 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FCPT shares. Wall Street Zen raised shares of Four Corners Property Trust from a “sell” rating to a “hold” rating in a research note on Sunday, October 19th. Robert W. Baird set a $29.00 price target on Four Corners Property Trust in a research note on Wednesday, October 29th. Evercore ISI cut 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. Barclays lowered their target price on Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Monday, October 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Tuesday, October 14th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $28.00.

Four Corners Property Trust Trading Up 0.1%

Shares of FCPT traded up $0.02 during mid-day trading on Monday, reaching $23.45. 864,097 shares of the company were exchanged, compared to its average volume of 863,430. The business has a 50 day simple moving average of $23.73 and a two-hundred day simple moving average of $25.06. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a market capitalization of $2.49 billion, a PE ratio of 13.24 and a beta of 0.86. Four Corners Property Trust has a 52 week low of $22.80 and a 52 week high of $29.81.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Tuesday, October 28th. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The business had revenue of $74.15 million during the quarter, compared to the consensus estimate of $71.86 million. Four Corners Property Trust had a net margin of 38.04% and a return on equity of 7.39%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.43 EPS. On average, analysts predict that Four Corners Property Trust will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a $0.3665 dividend. The ex-dividend date is 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 6.3%. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 130.28%.

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.