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

Four Corners Property Trust, Inc. (NYSE:FCPT) announced a quarterly dividend on Monday, March 10th, RTT News reports. Investors 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 5.05%. The ex-dividend date is Monday, March 31st.

Four Corners Property Trust has increased its dividend by an average of 7.7% annually 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. Research 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 Down 2.9 %

FCPT stock opened at $28.14 on Wednesday. The company has a market cap of $2.81 billion, a P/E ratio of 26.30 and a beta of 1.16. Four Corners Property Trust has a 52 week low of $22.38 and a 52 week high of $30.93. The company’s 50-day moving average price is $27.79 and its 200 day moving average price is $28.40. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.36.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates 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%. On average, research analysts expect that Four Corners Property Trust will post 1.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FCPT. Wells Fargo & Company upped 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. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. UBS Group began coverage on shares of Four Corners Property Trust in a research report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price objective for the company. Finally, Barclays cut their price objective on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.