Short Interest in Four Corners Property Trust, Inc. (NYSE:FCPT) Drops By 9.7%

Four Corners Property Trust, Inc. (NYSE:FCPT) was the recipient of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 3,990,000 shares, a drop of 9.7% from the January 15th total of 4,420,000 shares. Based on an average daily volume of 610,000 shares, the days-to-cover ratio is presently 6.5 days.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. UBS Group started coverage on Four Corners Property Trust in a research report on Thursday, November 14th. They set a “buy” rating and a $33.00 price objective for the company. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Thursday. Finally, Barclays decreased their price target on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.40.

Hedge Funds Weigh In On Four Corners Property Trust

Large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its holdings in shares of Four Corners Property Trust by 234.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,166 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 817 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Four Corners Property Trust by 165.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,379 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 860 shares in the last quarter. VSM Wealth Advisory LLC purchased a new position in Four Corners Property Trust in the 4th quarter worth about $39,000. Synergy Investment Management LLC acquired a new stake in Four Corners Property Trust during the 4th quarter worth about $48,000. Finally, Quarry LP purchased a new stake in Four Corners Property Trust during the fourth quarter valued at about $49,000. Institutional investors own 98.66% of the company’s stock.

Four Corners Property Trust Price Performance

NYSE:FCPT traded down $0.62 during midday trading on Monday, hitting $27.79. 492,654 shares of the stock were exchanged, compared to its average volume of 434,611. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 25.97 and a beta of 1.14. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38. Four Corners Property Trust has a one year low of $22.38 and a one year high of $30.93. The business has a 50-day moving average price of $27.64 and a two-hundred day moving average price of $28.24.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.16. Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. Sell-side analysts predict that Four Corners Property Trust will post 1.62 EPS for the current year.

About Four Corners Property Trust

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.