Short Interest in Four Corners Property Trust, Inc. (NYSE:FCPT) Decreases By 8.5%

Four Corners Property Trust, Inc. (NYSE:FCPTGet Free Report) was the recipient of a large drop in short interest in March. As of March 15th, there was short interest totalling 2,480,000 shares, a drop of 8.5% from the February 29th total of 2,710,000 shares. Based on an average daily volume of 531,600 shares, the days-to-cover ratio is presently 4.7 days.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FCPT. Wells Fargo & Company lifted their price objective on Four Corners Property Trust from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Raymond James dropped their price objective on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a research report on Monday, January 8th.

Read Our Latest Research Report on Four Corners Property Trust

Four Corners Property Trust Trading Down 2.7 %

FCPT traded down $0.65 during midday trading on Tuesday, hitting $23.76. The company’s stock had a trading volume of 481,348 shares, compared to its average volume of 513,713. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.35. The firm has a market cap of $2.19 billion, a P/E ratio of 22.00 and a beta of 1.00. The firm has a 50-day moving average price of $23.86 and a two-hundred day moving average price of $23.52. Four Corners Property Trust has a 52-week low of $20.51 and a 52-week high of $27.60.

Four Corners Property Trust (NYSE:FCPTGet Free Report) last posted its quarterly earnings results on Thursday, February 15th. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.13). Four Corners Property Trust had a net margin of 38.04% and a return on equity of 7.78%. The business had revenue of $65.14 million during the quarter, compared to analysts’ expectations of $65.23 million. During the same quarter last year, the firm earned $0.41 EPS. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, research analysts anticipate that Four Corners Property Trust will post 1.64 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date is Wednesday, March 27th. Four Corners Property Trust’s payout ratio is currently 127.78%.

Institutional Trading of Four Corners Property Trust

A number of institutional investors have recently modified their holdings of the company. Belpointe Asset Management LLC lifted its position in Four Corners Property Trust by 1,120.0% during the 1st quarter. Belpointe Asset Management LLC now owns 915 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 840 shares in the last quarter. Fortis Capital Advisors LLC increased its holdings in shares of Four Corners Property Trust by 18,200.0% in the 1st quarter. Fortis Capital Advisors LLC now owns 915 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 910 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Four Corners Property Trust in the 2nd quarter valued at approximately $33,000. CWM LLC increased its holdings in shares of Four Corners Property Trust by 183.5% in the 4th quarter. CWM LLC now owns 1,372 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 888 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Four Corners Property Trust in the 3rd quarter valued at approximately $52,000. Hedge funds and other institutional investors own 98.66% of the company’s stock.

About Four Corners Property Trust

(Get Free Report)

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.

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