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

Four Corners Property Trust, Inc. (NYSE:FCPT) declared a quarterly dividend on Monday, November 11th,Zacks Dividends reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date 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% per year over the last three years. Four Corners Property Trust has a 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 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 Trading Down 0.1 %

Shares of FCPT stock traded down $0.03 during trading hours on Wednesday, reaching $27.90. The company had a trading volume of 711,954 shares, compared to its average volume of 510,498. The company has a 50 day moving average of $28.99 and a 200 day moving average of $26.78. The firm has a market cap 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 current ratio of 0.17 and a quick ratio of 0.17. Four Corners Property Trust has a 1-year low of $22.38 and a 1-year high of $30.93.

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 the consensus estimate of $0.41 by ($0.14). The company had revenue of $66.79 million during the quarter, compared to the consensus estimate of $63.50 million. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. Four Corners Property Trust’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 EPS. On average, equities research analysts anticipate that Four Corners Property Trust will post 1.66 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Raymond James raised their target price on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Evercore ISI raised their price objective on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a research report on Tuesday, October 1st.

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.