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 paid 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 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 payment 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. 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 Price Performance

FCPT traded down $0.03 during trading on Wednesday, reaching $27.90. 711,933 shares of the company traded hands, compared to its average volume of 510,497. The company has a market cap of $2.70 billion, a P/E 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 has a 12-month low of $22.38 and a 12-month high of $30.93. The firm has a fifty day simple moving average of $28.99 and a 200 day simple moving average of $26.78.

Four Corners Property Trust (NYSE:FCPT) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $63.50 million. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 earnings per share. On average, equities analysts forecast that Four Corners Property Trust will post 1.66 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in 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 report on Wednesday, August 21st. Wells Fargo & Company reissued an “overweight” rating and issued a $32.00 price objective (up from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Finally, Evercore ISI lifted their target price on 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.

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.