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

Four Corners Property Trust, Inc. (NYSE:FCPT) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 3,730,000 shares, a decline of 9.0% from the July 15th total of 4,100,000 shares. Based on an average daily trading volume, of 436,100 shares, the days-to-cover ratio is currently 8.6 days.

Four Corners Property Trust Stock Up 0.8 %

Shares of NYSE FCPT traded up $0.21 during midday trading on Monday, reaching $27.05. 502,123 shares of the company’s stock were exchanged, compared to its average volume of 476,945. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.14 and a current ratio of 0.13. Four Corners Property Trust has a 52-week low of $20.51 and a 52-week high of $27.71. The business’s fifty day moving average price is $25.81 and its two-hundred day moving average price is $24.60. The stock has a market capitalization of $2.49 billion, a PE ratio of 25.08 and a beta of 1.08.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data 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). The business had revenue of $66.48 million for the quarter, compared to analyst estimates of $63.70 million. Four Corners Property Trust had a net margin of 37.01% and a return on equity of 7.72%. Four Corners Property Trust’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 EPS. Analysts forecast that Four Corners Property Trust will post 1.65 EPS for the current year.

Four Corners Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $0.345 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.38 dividend on an annualized basis and a yield of 5.10%. Four Corners Property Trust’s dividend payout ratio (DPR) is 128.97%.

Insider Buying and Selling at Four Corners Property Trust

In related news, CEO William H. Lenehan bought 6,230 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average cost of $24.05 per share, for a total transaction of $149,831.50. Following the completion of the acquisition, the chief executive officer now owns 620,394 shares in the company, valued at $14,920,475.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO William H. Lenehan bought 6,230 shares of Four Corners Property Trust stock in a transaction that occurred on Monday, June 10th. The shares were purchased at an average price of $24.05 per share, for a total transaction of $149,831.50. Following the completion of the acquisition, the chief executive officer now owns 620,394 shares of the company’s stock, valued at $14,920,475.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John S. Moody sold 7,230 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $24.56, for a total value of $177,568.80. Following the sale, the director now owns 61,108 shares of the company’s stock, valued at $1,500,812.48. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd lifted its position in shares of Four Corners Property Trust by 23.2% during the first quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 470 shares during the last quarter. Eagle Bay Advisors LLC lifted its holdings in Four Corners Property Trust by 66.7% during the 4th quarter. Eagle Bay Advisors LLC now owns 1,500 shares of the financial services provider’s stock worth $38,000 after buying an additional 600 shares during the last quarter. Cerity Partners LLC grew its position in shares of Four Corners Property Trust by 3.9% in the 4th quarter. Cerity Partners LLC now owns 22,654 shares of the financial services provider’s stock worth $573,000 after acquiring an additional 849 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Four Corners Property Trust by 3.5% in the 2nd quarter. Arizona State Retirement System now owns 25,753 shares of the financial services provider’s stock valued at $635,000 after acquiring an additional 863 shares during the last quarter. Finally, CWM LLC raised its position in shares of 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. 98.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company raised Four Corners Property Trust to a “strong-buy” rating in a research report on Monday, August 12th. JMP Securities assumed coverage on Four Corners Property Trust in a report on Monday, July 8th. They issued a “market perform” rating for the company. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Four Corners Property Trust presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.33.

Four Corners Property Trust Company Profile

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.