Short Interest in Four Corners Property Trust, Inc. (NYSE:FCPT) Increases By 16.8%

Four Corners Property Trust, Inc. (NYSE:FCPT) saw a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 3,476,759 shares, an increase of 16.8% from the February 12th total of 2,976,374 shares. Approximately 3.2% of the shares of the company are short sold. Based on an average daily trading volume, of 912,651 shares, the short-interest ratio is currently 3.8 days. Based on an average daily trading volume, of 912,651 shares, the short-interest ratio is currently 3.8 days. Approximately 3.2% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

FCPT has been the topic of several recent research reports. Wells Fargo & Company decreased their price objective on 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. Raymond James Financial cut their target price on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a research note on Tuesday. Evercore reduced their target price on Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating for the company in a research report on Monday, December 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Four Corners Property Trust in a research note on Friday, January 9th. Finally, Citigroup reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Monday, January 5th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $27.83.

Four Corners Property Trust Stock Up 0.2%

NYSE FCPT opened at $25.69 on Wednesday. Four Corners Property Trust has a 1-year low of $22.78 and a 1-year high of $28.98. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 23.35 and a beta of 0.82. The stock’s 50 day moving average is $24.94 and its two-hundred day moving average is $24.43. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.36.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Wednesday, February 11th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The business had revenue of $75.67 million during the quarter, compared to analysts’ expectations of $76.04 million. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.20%.Four Corners Property Trust’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 EPS. Equities analysts forecast that Four Corners Property Trust will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.3665 per share. This represents a $1.47 annualized dividend and a yield of 5.7%. The ex-dividend date is Tuesday, March 31st. Four Corners Property Trust’s dividend payout ratio is currently 133.64%.

Insider Buying and Selling

In other Four Corners Property Trust news, CEO William H. Lenehan purchased 7,865 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was bought at an average cost of $25.49 per share, for a total transaction of $200,478.85. Following the completion of the acquisition, the chief executive officer directly owned 765,845 shares in the company, valued at $19,521,389.05. This represents a 1.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Four Corners Property Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC grew its holdings in Four Corners Property Trust by 80.1% during the 3rd quarter. Parallel Advisors LLC now owns 1,041 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 463 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Four Corners Property Trust by 829.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,115 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 995 shares during the last quarter. First Horizon Corp lifted its position in shares of Four Corners Property Trust by 147.4% during the fourth quarter. First Horizon Corp now owns 1,190 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 709 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of Four Corners Property Trust during the second quarter worth approximately $37,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of Four Corners Property Trust during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 98.66% of the company’s stock.

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.