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

Four Corners Property Trust, Inc. (NYSE:FCPT) announced a quarterly dividend on Monday, September 16th, Zacks reports. Investors of record on Monday, September 30th will be given 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 4.55%. The ex-dividend date of this dividend is Monday, September 30th.

Four Corners Property Trust has raised its dividend by an average of 3.6% per year over the last three years. Four Corners Property Trust has a 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. Research 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 Price Performance

Four Corners Property Trust stock traded down $0.16 on Wednesday, reaching $30.34. The company’s stock had a trading volume of 76,983 shares, compared to its average volume of 496,711. The business’s fifty day moving average price is $27.62 and its 200 day moving average price is $25.39. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market cap of $2.79 billion, a price-to-earnings 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 issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned $0.42 EPS. Equities analysts expect that Four Corners Property Trust will post 1.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wells Fargo & Company raised shares of Four Corners Property Trust to a “strong-buy” rating in a research note on Monday, August 12th. Raymond James increased their price objective on 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. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Finally, Evercore ISI raised their price target on Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.