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

Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) was the recipient of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 5,690,000 shares, a decrease of 14.9% from the March 31st total of 6,690,000 shares. Currently, 5.8% of the shares of the stock are sold short. Based on an average daily volume of 828,900 shares, the days-to-cover ratio is currently 6.9 days.

Institutional Trading of Four Corners Property Trust

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC increased its position in shares of Four Corners Property Trust by 109.5% in the third quarter. Barclays PLC now owns 156,021 shares of the financial services provider's stock worth $4,572,000 after acquiring an additional 81,565 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Four Corners Property Trust by 6.1% during the third quarter. Principal Financial Group Inc. now owns 1,774,103 shares of the financial services provider's stock worth $51,996,000 after buying an additional 102,662 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Four Corners Property Trust by 13.5% during the third quarter. JPMorgan Chase & Co. now owns 392,448 shares of the financial services provider's stock worth $11,503,000 after acquiring an additional 46,732 shares in the last quarter. GAMMA Investing LLC raised its position in Four Corners Property Trust by 24.3% in the 4th quarter. GAMMA Investing LLC now owns 5,226 shares of the financial services provider's stock valued at $142,000 after purchasing an additional 1,021 shares during the last quarter. Finally, Eagle Bay Advisors LLC raised its position in shares of Four Corners Property Trust by 25.0% during the fourth quarter. Eagle Bay Advisors LLC now owns 2,125 shares of the financial services provider's stock worth $58,000 after acquiring an additional 425 shares during the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on Four Corners Property Trust from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Monday, March 10th. Barclays reduced their price objective 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. Finally, JMP Securities reissued a "market perform" rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $30.20.

Four Corners Property Trust Stock Down 0.4 %

NYSE:FCPT traded down $0.11 during midday trading on Thursday, hitting $27.65. 134,295 shares of the company were exchanged, compared to its average volume of 759,661. The company has a fifty day simple moving average of $28.00 and a 200 day simple moving average of $28.03. The company has a market capitalization of $2.76 billion, a PE ratio of 25.84 and a beta of 0.86. Four Corners Property Trust has a fifty-two week low of $23.70 and a fifty-two week high of $30.93. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.36.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last released its earnings results on Wednesday, April 30th. The financial services provider reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. Four Corners Property Trust had a return on equity of 7.54% and a net margin of 37.48%. The company had revenue of $71.48 million during the quarter, compared to the consensus estimate of $67.17 million. During the same quarter last year, the company earned $0.43 earnings per share. Four Corners Property Trust's quarterly revenue was up 7.5% compared to the same quarter last year. As a group, equities analysts anticipate that Four Corners Property Trust will post 1.68 earnings per share for the current fiscal year.

Four Corners Property Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date was Monday, March 31st. Four Corners Property Trust's payout ratio is 132.71%.

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.