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, March 10th, RTT News reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.355 per share by the financial services provider on Tuesday, April 15th. This represents a $1.42 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Monday, March 31st.

Four Corners Property Trust has raised its dividend by an average of 7.7% per year over the last three years. Four Corners Property Trust has a dividend payout ratio of 122.4% meaning 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 $1.77 per share next year, which means the company should continue to be able to cover its $1.42 annual dividend with an expected future payout ratio of 80.2%.

Four Corners Property Trust Stock Performance

NYSE:FCPT opened at $28.52 on Friday. Four Corners Property Trust has a 52-week low of $22.38 and a 52-week high of $30.93. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.11 and a current ratio of 0.11. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 26.65 and a beta of 1.16. The firm’s 50-day moving average is $28.11 and its 200-day moving average is $28.38.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.16. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. Equities research analysts anticipate that Four Corners Property Trust will post 1.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FCPT shares. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. Wells Fargo & Company lifted their price target on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, March 10th. Finally, Barclays decreased their price objective on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.20.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.