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

Four Corners Property Trust, Inc. (NYSE:FCPT) was the recipient of a large growth in short interest in 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 trading volume of 556,200 shares, the days-to-cover ratio is presently 6.1 days.

Four Corners Property Trust Trading Up 0.4 %

Shares of NYSE FCPT traded up $0.12 during trading on Monday, hitting $30.52. 120,635 shares of the company were exchanged, compared to its average volume of 496,769. The firm has a market capitalization of $2.83 billion, a PE ratio of 28.41 and a beta of 1.10. Four Corners Property Trust has a 12-month low of $20.51 and a 12-month high of $30.62. The company has a fifty day moving average price of $27.39 and a 200-day moving average price of $25.30. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.13 and a current ratio of 0.13.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data 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). The company had revenue of $66.48 million during the quarter, compared to analysts’ expectations of $63.70 million. Four Corners Property Trust had a net margin of 37.01% and a return on equity of 7.72%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 earnings per share. As a group, equities research analysts expect that Four Corners Property Trust will post 1.66 EPS for the current year.

Analyst Ratings Changes

FCPT has been the topic of several recent research reports. Raymond James lifted their target price on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Wells Fargo & Company upgraded Four Corners Property Trust to a “strong-buy” rating in a report on Monday, August 12th. Finally, Evercore ISI lifted their price target on Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Three research 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 price target of $27.00.

Institutional Trading of Four Corners Property Trust

A number of institutional investors and hedge funds have recently bought and sold shares of FCPT. Vanguard Group Inc. grew its position 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 worth $260,246,000 after buying an additional 116,453 shares in the last quarter. Earnest Partners LLC boosted its holdings in Four Corners Property Trust by 31.3% in the second quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider’s stock valued at $78,667,000 after purchasing an additional 759,749 shares in the last quarter. Westwood Holdings Group Inc. grew its position in shares of Four Corners Property Trust by 3.7% during the first quarter. Westwood Holdings Group Inc. now owns 2,619,070 shares of the financial services provider’s stock worth $64,089,000 after acquiring an additional 93,552 shares during the last quarter. Capital International Investors grew its position in shares of Four Corners Property Trust by 14.2% during the fourth quarter. Capital International Investors now owns 1,807,880 shares of the financial services provider’s stock worth $45,739,000 after acquiring an additional 225,327 shares during the last quarter. Finally, William Blair Investment Management LLC grew its position in shares of Four Corners Property Trust by 26.7% during the first quarter. William Blair Investment Management LLC now owns 1,410,376 shares of the financial services provider’s stock worth $34,512,000 after acquiring an additional 297,300 shares during the last quarter. 98.66% of the stock is currently owned by hedge funds and other institutional investors.

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.