Four Corners Property Trust, Inc. (NYSE:FCPT) Plans Monthly Dividend of $0.12

Four Corners Property Trust, Inc. (NYSE:FCPT) declared a monthly dividend on Monday, June 8th. Stockholders of record on Monday, August 31st will be paid a dividend of 0.1222 per share by the financial services provider on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Monday, August 31st.

Four Corners Property Trust has decreased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Four Corners Property Trust has a payout ratio of 127.0% 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 $1.83 per share next year, which means the company should continue to be able to cover its $1.46 annual dividend with an expected future payout ratio of 79.8%.

Four Corners Property Trust Stock Performance

Shares of NYSE FCPT opened at $24.49 on Tuesday. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $24.78 and its two-hundred day moving average price is $24.49. Four Corners Property Trust has a 52-week low of $22.78 and a 52-week high of $28.11. The stock has a market capitalization of $2.69 billion, a P/E ratio of 21.86 and a beta of 0.80.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.14). Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.The business had revenue of $78.17 million during the quarter, compared to the consensus estimate of $73.34 million. During the same period in the prior year, the business earned $0.44 EPS. The business’s revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts forecast that Four Corners Property Trust will post 1.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FCPT. Wells Fargo & Company raised their target price on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Citigroup reissued a “market outperform” rating on shares of Four Corners Property Trust in a report on Monday, June 1st. Raymond James Financial dropped their price target on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 17th. BMO Capital Markets began coverage on shares of Four Corners Property Trust in a research note on Friday, April 17th. They issued a “market perform” rating and a $27.00 price target on the stock. Finally, Citizens Jmp upgraded shares of Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 price target on the stock in a research note on Wednesday, March 25th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Four Corners Property Trust has a consensus rating of “Hold” and an average target price of $28.13.

Four Corners Property Trust Company Profile

Four Corners Property Trust is a publicly traded real estate investment trust focused on acquiring and managing single-tenant commercial properties subject to long-term, triple-net leases. The company targets industrial, manufacturing, distribution, office and retail facilities leased to creditworthy tenants. By concentrating on net-lease structures, Four Corners seeks to generate stable, predictable income streams and mitigate operating cost variability.

The firm’s core activities include sourcing off-market and broker-sourced acquisition opportunities, conducting rigorous credit and property due diligence, and structuring lease agreements that shift property taxes, insurance and maintenance expenses to tenants.