Short Interest in Four Corners Property Trust, Inc. (NYSE:FCPT) Rises By 5.1%

Four Corners Property Trust, Inc. (NYSE:FCPT) was the recipient of a significant growth in short interest in July. As of July 15th, there was short interest totalling 4,100,000 shares, a growth of 5.1% from the June 30th total of 3,900,000 shares. Based on an average daily volume of 394,400 shares, the days-to-cover ratio is presently 10.4 days.

Four Corners Property Trust Stock Performance

Shares of NYSE FCPT traded up $0.12 during trading hours on Thursday, hitting $27.26. 659,577 shares of the company’s stock were exchanged, compared to its average volume of 468,259. Four Corners Property Trust has a 1-year low of $20.51 and a 1-year high of $27.71. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.14 and a quick ratio of 0.14. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 25.04 and a beta of 1.08. The company’s 50-day moving average price is $25.16 and its 200-day moving average price is $24.34.

Four Corners Property Trust Announces Dividend

The firm also recently disclosed 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 dividend yield of 5.06%. Four Corners Property Trust’s dividend payout ratio is presently 128.97%.

Insider Buying and Selling at Four Corners Property Trust

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

Hedge Funds Weigh In On Four Corners Property Trust

Several large investors have recently made changes to their positions in the business. Covestor Ltd raised its holdings in Four Corners Property Trust by 23.2% in the 1st 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 in the last quarter. Arizona State Retirement System raised its holdings in Four Corners Property Trust by 2.2% in the 4th quarter. Arizona State Retirement System now owns 25,318 shares of the financial services provider’s stock valued at $641,000 after acquiring an additional 539 shares in the last quarter. Eagle Bay Advisors LLC raised its holdings in Four Corners Property Trust by 66.7% in the 4th quarter. Eagle Bay Advisors LLC now owns 1,500 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 600 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Four Corners Property Trust by 0.7% in the 4th quarter. State of Alaska Department of Revenue now owns 98,248 shares of the financial services provider’s stock valued at $2,484,000 after acquiring an additional 700 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in 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 valued at $573,000 after acquiring an additional 849 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

Analyst Ratings Changes

Separately, JMP Securities began coverage on Four Corners Property Trust in a research note on Monday, July 8th. They set a “market perform” rating for the company. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.33.

About Four Corners Property Trust

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.