Short Interest in Four Corners Property Trust, Inc. (NYSE:FCPT) Decreases By 14.9%

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FCPT shares. 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. JMP Securities restated a "market perform" rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. Finally, Barclays lowered their price objective on shares of Four Corners Property Trust from $31.00 to $30.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $30.20.

Four Corners Property Trust Stock Up 0.1 %

NYSE:FCPT opened at $27.91 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.11 and a quick ratio of 0.11. Four Corners Property Trust has a one year low of $23.70 and a one year high of $30.93. The firm's 50 day simple moving average is $28.05 and its 200 day simple moving average is $28.07. The company has a market cap of $2.79 billion, a PE ratio of 26.08 and a beta of 0.93.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. The company had revenue of $71.48 million for the quarter, compared to analysts' expectations of $67.17 million. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. Four Corners Property Trust's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 earnings per share. On average, research analysts anticipate that Four Corners Property Trust will post 1.68 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Monday, March 31st. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.09%. Four Corners Property Trust's dividend payout ratio (DPR) is 132.71%.

Hedge Funds Weigh In On Four Corners Property Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in FCPT. Vanguard Group Inc. lifted its position in shares of Four Corners Property Trust by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 10,874,938 shares of the financial services provider's stock worth $295,146,000 after purchasing an additional 240,230 shares during the period. Invesco Ltd. lifted its holdings in Four Corners Property Trust by 2.9% in the fourth quarter. Invesco Ltd. now owns 3,072,755 shares of the financial services provider's stock valued at $83,395,000 after buying an additional 85,476 shares during the period. Geode Capital Management LLC lifted its holdings in Four Corners Property Trust by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 2,455,295 shares of the financial services provider's stock valued at $66,651,000 after buying an additional 98,120 shares during the period. Capital International Investors boosted its position in Four Corners Property Trust by 25.4% during the fourth quarter. Capital International Investors now owns 2,267,422 shares of the financial services provider's stock valued at $61,538,000 after acquiring an additional 459,542 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Four Corners Property Trust by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,843,627 shares of the financial services provider's stock worth $52,912,000 after acquiring an additional 21,205 shares during the period. 98.66% of the stock is owned by institutional investors and hedge funds.

Four Corners Property Trust Company Profile

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.

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