Four Corners Property Trust, Inc. (FCPT) to Issue Quarterly Dividend of $0.35 on July 15th

Four Corners Property Trust, Inc. (NYSE:FCPT) declared a quarterly dividend on Tuesday, June 11th, Zacks reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.345 per share by the financial services provider on Monday, July 15th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date is Friday, June 28th.

Four Corners Property Trust has increased its dividend payment by an average of 3.6% per year over the last three years. Four Corners Property Trust has a payout ratio of 123.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Four Corners Property Trust to earn $1.68 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 82.1%.

Four Corners Property Trust Price Performance

Shares of FCPT stock opened at $24.30 on Wednesday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.40. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 22.71 and a beta of 1.05. The business’s fifty day moving average is $24.17 and its 200 day moving average is $24.20. Four Corners Property Trust has a twelve month low of $20.51 and a twelve month high of $27.60.

Insider Buying and Selling at Four Corners Property Trust

In other news, Director John S. Moody sold 7,230 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $24.56, for a total transaction of $177,568.80. Following the sale, the director now owns 61,108 shares of the company’s stock, valued at approximately $1,500,812.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Four Corners Property Trust news, CEO William H. Lenehan purchased 6,230 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were acquired at an average price of $24.05 per share, for a total transaction of $149,831.50. Following the purchase, the chief executive officer now directly owns 620,394 shares of the company’s stock, valued at approximately $14,920,475.70. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John S. Moody sold 7,230 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $24.56, for a total transaction of $177,568.80. Following the sale, the director now directly owns 61,108 shares of the company’s stock, valued at approximately $1,500,812.48. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

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.