Four Corners Property Trust, Inc. (FCPT) to Issue Quarterly Dividend of $0.35 on October 15th

Four Corners Property Trust, Inc. (NYSE:FCPT) declared a quarterly dividend on Monday, September 16th, Zacks reports. Investors of record on Monday, September 30th will be paid a dividend of 0.345 per share by the financial services provider on Tuesday, October 15th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date is Monday, September 30th.

Four Corners Property Trust has raised its dividend payment by an average of 3.6% annually over the last three years. Four Corners Property Trust has a 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 Stock Performance

Shares of NYSE:FCPT traded down $0.16 during trading on Wednesday, reaching $30.34. The stock had a trading volume of 76,983 shares, compared to its average volume of 496,711. The stock has a fifty day simple moving average of $27.62 and a two-hundred day simple moving average of $25.39. The company has a quick ratio of 0.13, a current 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 $2.79 billion, a price-to-earnings ratio of 28.51 and a beta of 1.10.

Four Corners Property Trust (NYSE:FCPT) last announced 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). Four Corners Property Trust had a return on equity of 7.72% and a net margin of 37.01%. The firm had revenue of $66.48 million during the quarter, compared to the consensus estimate of $63.70 million. During the same quarter last year, the business earned $0.42 EPS. The business’s revenue was up 9.5% compared to the same quarter last year. As a group, analysts anticipate that Four Corners Property Trust will post 1.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Wells Fargo & Company raised Four Corners Property Trust to a “strong-buy” rating in a report on Monday, August 12th. Evercore ISI upped their target price on Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Finally, Raymond James lifted their price target on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Four Corners Property Trust currently has an average rating of “Moderate Buy” and an average price target of $27.00.

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.