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

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

Insider Activity

In related news, CEO William H. Lenehan purchased 6,230 shares of the stock in a transaction dated Monday, June 10th. The stock was bought at an average cost of $24.05 per share, with a total value of $149,831.50. Following the purchase, the chief executive officer now directly owns 620,394 shares in the company, valued at approximately $14,920,475.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO William H. Lenehan acquired 6,230 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average price of $24.05 per share, for a total transaction of $149,831.50. Following the transaction, the chief executive officer now directly owns 620,394 shares in the company, valued at $14,920,475.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John S. Moody sold 7,230 shares of the firm’s stock in a transaction on 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 directly owns 61,108 shares in the company, valued at approximately $1,500,812.48. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FCPT. Larson Financial Group LLC boosted its holdings in shares of Four Corners Property Trust by 25,000.0% in the 1st quarter. Larson Financial Group LLC now owns 1,004 shares of the financial services provider’s stock valued at $25,000 after buying an additional 1,000 shares during the last quarter. CWM LLC raised its position in Four Corners Property Trust by 183.5% during the fourth quarter. CWM LLC now owns 1,372 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 888 shares in the last quarter. Eagle Bay Advisors LLC raised its position in Four Corners Property Trust by 66.7% during the fourth quarter. Eagle Bay Advisors LLC now owns 1,500 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 600 shares in the last quarter. Covestor Ltd lifted its stake in Four Corners Property Trust by 23.2% in the first quarter. Covestor Ltd now owns 2,493 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 470 shares during the last quarter. Finally, GAMMA Investing LLC bought a new position in shares of Four Corners Property Trust in the 4th quarter valued at about $66,000. Institutional investors and hedge funds own 98.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FCPT shares. JMP Securities initiated coverage on shares of Four Corners Property Trust in a report on Monday, July 8th. They issued a “market perform” rating for the company. Wells Fargo & Company raised shares of Four Corners Property Trust to a “strong-buy” rating in a research note on Monday, August 12th. Two analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Four Corners Property Trust has a consensus rating of “Moderate Buy” and an average target price of $26.33.

Four Corners Property Trust Stock Up 0.8 %

Shares of FCPT traded up $0.21 during mid-day trading on Monday, hitting $27.05. 502,123 shares of the company’s stock were exchanged, compared to its average volume of 476,945. The company has a 50-day simple moving average of $25.81 and a 200 day simple moving average of $24.60. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.13 and a quick ratio of 0.14. The company has a market cap of $2.49 billion, a PE ratio of 25.08 and a beta of 1.08. Four Corners Property Trust has a 52 week low of $20.51 and a 52 week high of $27.71.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.14). Four Corners Property Trust had a net margin of 37.01% and a return on equity of 7.72%. The business had revenue of $66.48 million during the quarter, compared to analyst estimates of $63.70 million. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. On average, research analysts forecast that Four Corners Property Trust will post 1.65 earnings per share for the current fiscal year.

Four Corners Property Trust Announces Dividend

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

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.