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

Four Corners Property Trust, Inc. (NYSE:FCPT) declared 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 4.67%. The ex-dividend date of this dividend is Monday, September 30th.

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 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

NYSE FCPT opened at $29.57 on Friday. The firm has a market cap of $2.72 billion, a P/E ratio of 27.64 and a beta of 1.10. 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 company’s 50 day moving average is $28.19 and its 200-day moving average is $25.68. Four Corners Property Trust has a 12-month low of $20.51 and a 12-month high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last issued 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). Four Corners Property Trust had a net margin of 37.01% and a return on equity of 7.72%. The business had revenue of $66.48 million for the quarter, compared to the consensus estimate of $63.70 million. During the same period in the previous year, the firm earned $0.42 EPS. The company’s revenue was up 9.5% compared to the same quarter last year. Sell-side analysts predict that Four Corners Property Trust will post 1.66 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on the company. Wells Fargo & Company upgraded 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 note on Wednesday, August 28th. Evercore ISI increased their target price 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. Finally, Raymond James boosted their price target on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Four Corners Property Trust presently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

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.