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

Four Corners Property Trust, Inc. (NYSE:FCPT) declared a quarterly dividend on Monday, March 10th, RTT News reports. Stockholders of record on Monday, March 31st will be paid 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 dividend yield of 4.90%.

Four Corners Property Trust has increased its dividend by an average of 7.7% per year over the last three years. Four Corners Property Trust has a dividend payout ratio of 122.4% indicating that 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 $1.77 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 Price Performance

Shares of NYSE FCPT opened at $28.99 on Tuesday. Four Corners Property Trust has a 52 week low of $22.38 and a 52 week high of $30.93. The business’s 50 day moving average price is $27.76 and its 200 day moving average price is $28.39. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.36. The firm has a market cap of $2.90 billion, a P/E ratio of 27.10 and a beta of 1.16.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate 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, sell-side analysts expect that Four Corners Property Trust will post 1.68 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays cut their price target on Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. JMP Securities reaffirmed a “market perform” rating on shares of Four Corners Property Trust in a report on Thursday, February 13th. Wells Fargo & Company boosted their price target on Four Corners Property Trust from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Monday. Finally, UBS Group initiated coverage on Four Corners Property Trust in a research report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.20.

About Four Corners Property Trust

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.