Four Corners Property Trust, Inc. (NYSE:FCPT) Short Interest Up 34.4% in August

Four Corners Property Trust, Inc. (NYSE:FCPT) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 3,400,000 shares, a growth of 34.4% from the August 15th total of 2,530,000 shares. Based on an average daily volume of 556,200 shares, the days-to-cover ratio is presently 6.1 days.

Institutional Trading of Four Corners Property Trust

A number of large investors have recently added to or reduced their stakes in the business. Boston Trust Walden Corp boosted its position in shares of Four Corners Property Trust by 18.7% in the 2nd quarter. Boston Trust Walden Corp now owns 1,216,760 shares of the financial services provider’s stock valued at $30,017,000 after purchasing an additional 191,259 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Four Corners Property Trust by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,339,614 shares of the financial services provider’s stock valued at $33,892,000 after acquiring an additional 53,517 shares during the period. Vanguard Group Inc. raised its holdings in shares of Four Corners Property Trust by 1.1% during the first quarter. Vanguard Group Inc. now owns 10,635,297 shares of the financial services provider’s stock valued at $260,246,000 after acquiring an additional 116,453 shares during the period. Norges Bank purchased a new stake in shares of Four Corners Property Trust in the 4th quarter valued at approximately $14,546,000. Finally, PNC Financial Services Group Inc. grew its position in Four Corners Property Trust by 31.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,626 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 2,551 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FCPT shares. Wells Fargo & Company upgraded Four Corners Property Trust to a “strong-buy” rating in a research note on Monday, August 12th. Raymond James lifted their price objective on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Finally, Evercore ISI raised their price target on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.00.

Four Corners Property Trust Price Performance

Shares of Four Corners Property Trust stock traded up $0.09 on Monday, hitting $30.49. The company had a trading volume of 367,128 shares, compared to its average volume of 498,189. The company has a market cap of $2.83 billion, a PE ratio of 28.49 and a beta of 1.10. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.13 and a quick ratio of 0.13. Four Corners Property Trust has a 52 week low of $20.51 and a 52 week high of $30.62. The business has a 50-day simple moving average of $27.39 and a 200-day simple moving average of $25.30.

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 for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). The business had revenue of $66.48 million during 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 was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 earnings per share. Research analysts expect that Four Corners Property Trust will post 1.66 EPS for the current fiscal year.

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.