Four Corners Property Trust, Inc. (FCPT) To Go Ex-Dividend on March 27th

Four Corners Property Trust, Inc. (NYSE:FCPT) announced a quarterly dividend on Monday, March 11th, Zacks reports. Stockholders of record on Thursday, March 28th will be given a dividend of 0.345 per share by the financial services provider on Monday, April 15th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 5.72%. The ex-dividend date of this dividend is Wednesday, March 27th.

Four Corners Property Trust has decreased its dividend by an average of 3.9% per year over the last three years and has raised its dividend every year for the last 7 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. 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 Stock Performance

NYSE FCPT opened at $24.12 on Monday. Four Corners Property Trust has a 52-week low of $20.51 and a 52-week high of $27.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market capitalization of $2.22 billion, a P/E ratio of 22.33 and a beta of 1.00. The company has a fifty day moving average of $23.88 and a 200-day moving average of $23.53.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Thursday, February 15th. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.13). The business had revenue of $65.14 million during the quarter, compared to the consensus estimate of $65.23 million. Four Corners Property Trust had a return on equity of 7.78% and a net margin of 38.04%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 earnings per share. As a group, equities research analysts predict that Four Corners Property Trust will post 1.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on FCPT shares. Raymond James lowered their price target on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, January 8th. Wells Fargo & Company boosted their price objective on shares of Four Corners Property Trust from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th.

Hedge Funds Weigh In On Four Corners Property Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its stake in Four Corners Property Trust by 3.4% during the second quarter. PNC Financial Services Group Inc. now owns 11,786 shares of the financial services provider’s stock worth $299,000 after acquiring an additional 388 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Four Corners Property Trust by 2.0% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 22,919 shares of the financial services provider’s stock worth $554,000 after buying an additional 442 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Four Corners Property Trust by 7.0% in the second quarter. Ameritas Investment Partners Inc. now owns 7,162 shares of the financial services provider’s stock worth $182,000 after buying an additional 466 shares in the last quarter. Prospector Partners LLC lifted its stake in shares of Four Corners Property Trust by 3.2% in the fourth quarter. Prospector Partners LLC now owns 16,668 shares of the financial services provider’s stock worth $432,000 after buying an additional 522 shares in the last quarter. Finally, First Republic Investment Management Inc. lifted its stake in shares of Four Corners Property Trust by 1.5% in the first quarter. First Republic Investment Management Inc. now owns 37,561 shares of the financial services provider’s stock worth $1,009,000 after buying an additional 564 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

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.