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

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 given a dividend of 0.345 per share by the financial services provider on Tuesday, October 15th. This represents a $1.38 annualized dividend and a yield of 4.57%. The ex-dividend date 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 dividend payout ratio of 122.1% meaning 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 $1.70 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

FCPT stock traded down $0.32 during mid-day trading on Wednesday, hitting $30.18. The stock had a trading volume of 30,402 shares, compared to its average volume of 496,452. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.43. Four Corners Property Trust has a 52 week low of $20.51 and a 52 week high of $30.72. The firm has a market capitalization of $2.78 billion, a P/E ratio of 28.51 and a beta of 1.10. The firm has a fifty day simple moving average of $27.62 and a 200 day simple moving average of $25.39.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on FCPT shares. Evercore ISI lifted their price target on shares of 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. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Wells Fargo & Company upgraded shares of Four Corners Property Trust to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Raymond James lifted 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 report on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.