Four Corners Property Trust, Inc. (NYSE:FCPT) Increases Dividend to $0.36 Per Share

Four Corners Property Trust, Inc. (NYSE:FCPT) declared 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 5.10%. 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 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% indicating that 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 $1.70 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 0.3 %

Shares of NYSE FCPT traded down $0.09 during midday trading on Wednesday, reaching $27.84. 483,624 shares of the stock were exchanged, compared to its average volume of 509,460. The stock has a 50 day moving average price of $28.99 and a 200-day moving average price of $26.78. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $2.69 billion, a P/E ratio of 26.07 and a beta of 1.11. Four Corners Property Trust has a 52-week low of $22.38 and a 52-week high of $30.93.

Four Corners Property Trust (NYSE:FCPT) last released its earnings results on Wednesday, October 30th. 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 7.68% and a net margin of 37.27%. The firm had revenue of $66.79 million during the quarter, compared to analysts’ expectations of $63.50 million. During the same period in the previous year, the firm posted $0.42 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. Equities research analysts expect that Four Corners Property Trust will post 1.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on FCPT. Raymond James lifted their price target on Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. JMP Securities reissued a “market perform” rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th. Evercore ISI upped their price target 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. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 price target (up previously from $28.00) on shares of Four Corners Property Trust in a 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.