Four Corners Property Trust, Inc. (NYSE:FCPT) Plans Quarterly Dividend of $0.36

Four Corners Property Trust, Inc. (NYSE:FCPT) announced a quarterly dividend on Monday, November 11th,Zacks Dividends reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.355 per share by the financial services provider on Wednesday, January 15th. This represents a $1.42 annualized dividend and a dividend yield of 5.09%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.35.

Four Corners Property Trust has increased its dividend by an average of 3.6% annually over the last three years. Four Corners Property Trust has a dividend payout ratio of 121.1% 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 Stock Down 0.1 %

Shares of FCPT traded down $0.03 during trading hours on Wednesday, hitting $27.90. The company had a trading volume of 711,933 shares, compared to its average volume of 510,497. Four Corners Property Trust has a 52-week low of $22.38 and a 52-week high of $30.93. The firm has a fifty day moving average price of $28.99 and a 200-day moving average price of $26.78. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 26.07 and a beta of 1.11. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.17.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14). Four Corners Property Trust had a return on equity of 7.68% and a net margin of 37.27%. The firm had revenue of $66.79 million during the quarter, compared to analysts’ expectations of $63.50 million. During the same quarter in the previous year, the firm earned $0.42 earnings per share. Four Corners Property Trust’s revenue was up 3.0% on a year-over-year basis. On average, equities research analysts forecast that Four Corners Property Trust will post 1.66 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on FCPT. Raymond James boosted their target price on 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. Wells Fargo & Company reissued an “overweight” rating and set a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st. Evercore ISI raised 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 report on Wednesday, August 28th. Finally, JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th.

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.