Four Corners Property Trust, Inc. (NYSE:FCPT) Sees Large Drop in Short Interest

Four Corners Property Trust, Inc. (NYSE:FCPTGet Free Report) was the recipient of a significant drop in short interest in the month of 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 trading volume, of 531,600 shares, the short-interest ratio is presently 4.7 days.

Four Corners Property Trust Stock Performance

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

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

Four Corners Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be given a $0.345 dividend. This represents a $1.38 annualized dividend and a yield of 5.81%. The ex-dividend date is Wednesday, March 27th. Four Corners Property Trust’s dividend payout ratio (DPR) is presently 127.78%.

Analyst Ratings Changes

FCPT has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on shares of Four Corners Property Trust from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. Raymond James lowered their price objective on shares of 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.

View Our Latest Stock Analysis on Four Corners Property Trust

Institutional Investors Weigh In On Four Corners Property Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Belpointe Asset Management LLC increased its stake in Four Corners Property Trust by 1,120.0% in the 1st quarter. Belpointe Asset Management LLC now owns 915 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 840 shares in the last quarter. Fortis Capital Advisors LLC grew its stake in Four Corners Property Trust by 18,200.0% during 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 in the last quarter. Eagle Bay Advisors LLC purchased a new position in Four Corners Property Trust during the 2nd quarter valued at about $33,000. CWM LLC grew its stake in Four Corners Property Trust by 183.5% during 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 in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in Four Corners Property Trust during the 3rd quarter valued at about $52,000. 98.66% of the stock is currently owned by institutional investors.

Four Corners Property Trust Company Profile

(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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