Four Corners Property Trust, Inc. Announces Quarterly Dividend of $0.35 (NYSE:FCPT)

Four Corners Property Trust, Inc. (NYSE:FCPT) announced a quarterly dividend on Monday, September 16th, Zacks reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.345 per share by the financial services provider on Tuesday, October 15th. This represents a $1.38 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Monday, September 30th.

Four Corners Property Trust has increased its dividend by an average of 3.6% annually over the last three years. Four Corners Property Trust has a dividend payout ratio of 122.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Four Corners Property Trust to earn $1.70 per share next year, which means the company should continue to be able to cover its $1.38 annual dividend with an expected future payout ratio of 81.2%.

Four Corners Property Trust Stock Performance

Shares of NYSE FCPT traded down $0.32 during mid-day trading on Wednesday, reaching $30.18. 30,402 shares of the company were exchanged, compared to its average volume of 496,452. The company’s 50-day simple moving average is $27.62 and its 200-day simple moving average is $25.39. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $2.78 billion, a P/E ratio of 28.51 and a beta of 1.10. Four Corners Property Trust has a twelve month low of $20.51 and a twelve month high of $30.72.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). The company had revenue of $66.48 million for the quarter, compared to analyst estimates of $63.70 million. Four Corners Property Trust had a return on equity of 7.72% and a net margin of 37.01%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 EPS. As a group, research analysts predict that Four Corners Property Trust will post 1.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

FCPT has been the subject of a number of research reports. 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 note on Wednesday, August 21st. Evercore ISI lifted their price objective on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research note on Wednesday, August 28th. Finally, Wells Fargo & Company upgraded shares of Four Corners Property Trust to a “strong-buy” rating in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Four Corners Property Trust currently has a consensus rating of “Moderate Buy” and a consensus price target 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.