Four Corners Property Trust, Inc. (NYSE:FCPT) Short Interest Up 35.0% in January

Four Corners Property Trust, Inc. (NYSE:FCPT) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 3,923,409 shares, a growth of 35.0% from the December 31st total of 2,906,703 shares. Approximately 3.7% of the company’s shares are sold short. Based on an average daily trading volume, of 1,026,350 shares, the short-interest ratio is currently 3.8 days. Based on an average daily trading volume, of 1,026,350 shares, the short-interest ratio is currently 3.8 days. Approximately 3.7% of the company’s shares are sold short.

Hedge Funds Weigh In On Four Corners Property Trust

Several large investors have recently bought and sold shares of FCPT. AQR Capital Management LLC increased its stake in shares of Four Corners Property Trust by 20.3% during the 1st quarter. AQR Capital Management LLC now owns 34,273 shares of the financial services provider’s stock worth $984,000 after purchasing an additional 5,786 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Four Corners Property Trust by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,416 shares of the financial services provider’s stock valued at $1,648,000 after acquiring an additional 2,508 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Four Corners Property Trust by 13.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 681,843 shares of the financial services provider’s stock valued at $19,569,000 after purchasing an additional 79,023 shares during the last quarter. Jane Street Group LLC bought a new position in Four Corners Property Trust in the first quarter valued at $2,627,000. Finally, ZWJ Investment Counsel Inc. increased its position in shares of Four Corners Property Trust by 16.5% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 8,258 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 1,172 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Barclays lowered their price objective on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Monday, October 20th. Wells Fargo & Company lowered their target price on Four Corners Property Trust from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 25th. Robert W. Baird set a $29.00 price objective on shares of Four Corners Property Trust in a research report on Wednesday, October 29th. Wall Street Zen upgraded shares of Four Corners Property Trust from a “sell” rating to a “hold” rating in a research note on Sunday, October 19th. Finally, Evercore ISI decreased their price target on shares of Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating on the stock in a research note on Monday, December 15th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $28.00.

Four Corners Property Trust Trading Up 0.1%

NYSE FCPT opened at $24.68 on Tuesday. The firm has a market capitalization of $2.62 billion, a PE ratio of 22.50 and a beta of 0.83. The business’s 50-day moving average price is $23.76 and its two-hundred day moving average price is $24.55. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.39. Four Corners Property Trust has a 12 month low of $22.78 and a 12 month high of $29.81.

Four Corners Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.3665 per share. This is a positive change from Four Corners Property Trust’s previous quarterly dividend of $0.36. This represents a $1.47 annualized dividend and a dividend yield of 5.9%. The ex-dividend date was Wednesday, December 31st. Four Corners Property Trust’s dividend payout ratio is presently 134.86%.

Four Corners Property Trust Company Profile

Four Corners Property Trust is a publicly traded real estate investment trust focused on acquiring and managing single-tenant commercial properties subject to long-term, triple-net leases. The company targets industrial, manufacturing, distribution, office and retail facilities leased to creditworthy tenants. By concentrating on net-lease structures, Four Corners seeks to generate stable, predictable income streams and mitigate operating cost variability.

The firm’s core activities include sourcing off-market and broker-sourced acquisition opportunities, conducting rigorous credit and property due diligence, and structuring lease agreements that shift property taxes, insurance and maintenance expenses to tenants.