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 significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 3,400,000 shares, an increase of 34.4% from the August 15th total of 2,530,000 shares. Based on an average daily volume of 556,200 shares, the short-interest ratio is presently 6.1 days.

Institutional Investors Weigh In On Four Corners Property Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in FCPT. Vanguard Group Inc. boosted its holdings in Four Corners Property Trust by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 10,635,297 shares of the financial services provider’s stock worth $260,246,000 after acquiring an additional 116,453 shares during the period. Earnest Partners LLC grew its stake in Four Corners Property Trust by 31.3% during the 2nd 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. increased its holdings in Four Corners Property Trust by 3.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,619,070 shares of the financial services provider’s stock worth $64,089,000 after purchasing an additional 93,552 shares during the last quarter. Capital International Investors raised its position in shares of Four Corners Property Trust by 14.2% in the 4th quarter. Capital International Investors now owns 1,807,880 shares of the financial services provider’s stock valued at $45,739,000 after purchasing an additional 225,327 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its stake in shares of Four Corners Property Trust by 26.7% during the 1st quarter. William Blair Investment Management LLC now owns 1,410,376 shares of the financial services provider’s stock valued at $34,512,000 after buying an additional 297,300 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors and hedge funds.

Four Corners Property Trust Price Performance

Shares of NYSE:FCPT traded up $0.09 on Monday, reaching $30.49. 367,128 shares of the company were exchanged, compared to its average volume of 498,189. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 28.49 and a beta of 1.10. Four Corners Property Trust has a 1-year low of $20.51 and a 1-year high of $30.62. The company has a 50-day moving average of $27.39 and a 200-day moving average of $25.30. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.43.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings results 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). Four Corners Property Trust had a return on equity of 7.72% and a net margin of 37.01%. The firm had revenue of $66.48 million for the quarter, compared to analyst estimates of $63.70 million. During the same period last year, the firm earned $0.42 EPS. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. Equities analysts forecast that Four Corners Property Trust will post 1.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FCPT shares. Wells Fargo & Company upgraded shares of Four Corners Property Trust to a “strong-buy” rating in a research note on Monday, August 12th. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Evercore ISI boosted their price objective on 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. Finally, Raymond James raised 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 report on Wednesday, August 21st. Three 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 stock. According to data from MarketBeat, Four Corners Property Trust presently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

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.