Four Corners Property Trust, Inc. (NYSE:FCPT) Short Interest Down 9.8% in October

by · The Cerbat Gem

Four Corners Property Trust, Inc. (NYSE:FCPT – Get Free Report) was the recipient of a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 2,750,000 shares, a decrease of 9.8% from the September 30th total of 3,050,000 shares. Based on an average daily trading volume, of 579,500 shares, the short-interest ratio is presently 4.7 days.

Four Corners Property Trust Price Performance

FCPT traded up $0.13 during midday trading on Wednesday, hitting $28.21. 46,770 shares of the company traded hands, compared to its average volume of 497,200. Four Corners Property Trust has a 52-week low of $20.89 and a 52-week high of $30.93. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.43. The business has a 50 day simple moving average of $28.98 and a two-hundred day simple moving average of $26.42. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 26.23 and a beta of 1.10.

Four Corners Property Trust (NYSE:FCPT – Get Free Report) last released its earnings results on Wednesday, July 31st. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). Four Corners Property Trust had a return on equity of 7.72% and a net margin of 37.01%. The business had revenue of $66.48 million during the quarter, compared to analysts’ expectations of $63.70 million. During the same period last year, the business earned $0.42 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities analysts forecast that Four Corners Property Trust will post 1.66 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.345 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.38 dividend on an annualized basis and a yield of 4.89%. Four Corners Property Trust’s dividend payout ratio is presently 128.97%.

Hedge Funds Weigh In On Four Corners Property Trust

Several hedge funds and other institutional investors have recently bought and sold shares of FCPT. Vanguard Group Inc. grew its holdings in Four Corners Property Trust by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 10,635,297 shares of the financial services provider’s stock worth $260,246,000 after acquiring an additional 116,453 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of Four Corners Property Trust by 31.3% in the 2nd quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider’s stock worth $78,667,000 after acquiring an additional 759,749 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in Four Corners Property Trust by 3.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,619,070 shares of the financial services provider’s stock worth $64,089,000 after purchasing an additional 93,552 shares in the last quarter. William Blair Investment Management LLC lifted its position in shares of Four Corners Property Trust by 26.7% in the 1st quarter. William Blair Investment Management LLC now owns 1,410,376 shares of the financial services provider’s stock valued at $34,512,000 after acquiring an additional 297,300 shares in the last quarter. Finally, Boston Trust Walden Corp raised its stake in Four Corners Property Trust by 9.5% during the 3rd quarter. Boston Trust Walden Corp now owns 1,332,684 shares of the financial services provider’s stock valued at $39,061,000 after purchasing an additional 115,924 shares during the period. 98.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FCPT has been the topic of a number of analyst reports. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Evercore ISI raised their price objective on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Raymond James upped their price target on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $32.00 price objective (up previously from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st.

Check Out Our Latest Research Report on Four Corners Property Trust

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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