Four Corners Property Trust, Inc. (NYSE:FCPT) Short Interest Update

Four Corners Property Trust, Inc. (NYSE:FCPTGet Free Report) was the recipient of a significant decline in short interest in March. As of March 15th, there was short interest totalling 2,480,000 shares, a decline of 8.5% from the February 29th total of 2,710,000 shares. Based on an average trading volume of 531,600 shares, the short-interest ratio is currently 4.7 days.

Wall Street Analyst Weigh In

FCPT has been the topic of a number of research reports. Wells Fargo & Company boosted their price target on Four Corners Property Trust from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Raymond James lowered their price target on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, January 8th.

View Our Latest Stock Analysis on FCPT

Four Corners Property Trust Price Performance

Shares of NYSE FCPT traded down $0.65 during mid-day trading on Tuesday, hitting $23.76. 481,348 shares of the stock traded hands, compared to its average volume of 513,713. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.12 and a quick ratio of 0.12. Four Corners Property Trust has a twelve month low of $20.51 and a twelve month high of $27.60. The company has a market cap of $2.19 billion, a PE ratio of 22.00 and a beta of 1.00. The firm has a 50 day simple moving average of $23.86 and a two-hundred day simple moving average of $23.52.

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

Four Corners Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be given a dividend of $0.345 per share. 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 is currently 127.78%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FCPT. Bank of New York Mellon Corp raised its position in Four Corners Property Trust by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 1,072,536 shares of the financial services provider’s stock worth $29,002,000 after purchasing an additional 3,329 shares during the last quarter. Natixis Advisors L.P. raised its position in Four Corners Property Trust by 26.9% during the 1st quarter. Natixis Advisors L.P. now owns 15,300 shares of the financial services provider’s stock worth $414,000 after purchasing an additional 3,248 shares during the last quarter. MetLife Investment Management LLC raised its position in Four Corners Property Trust by 55.1% during the 1st quarter. MetLife Investment Management LLC now owns 42,406 shares of the financial services provider’s stock worth $1,147,000 after purchasing an additional 15,073 shares during the last quarter. Rhumbline Advisers raised its position in Four Corners Property Trust by 2.0% during the 1st quarter. Rhumbline Advisers now owns 228,640 shares of the financial services provider’s stock worth $6,182,000 after purchasing an additional 4,434 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Four Corners Property Trust by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 66,686 shares of the financial services provider’s stock worth $1,803,000 after acquiring an additional 8,222 shares in the last quarter. 98.66% of the stock is owned by institutional investors.

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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