Four Corners Property Trust, Inc. (FCPT) to Issue Quarterly Dividend of $0.37 on April 15th

Four Corners Property Trust, Inc. (NYSE:FCPT) declared a quarterly dividend on Thursday, March 5th. Investors of record on Tuesday, March 31st will be paid a dividend of 0.3665 per share by the financial services provider on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a yield of 6.2%. The ex-dividend date is Tuesday, March 31st.

Four Corners Property Trust has decreased its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Four Corners Property Trust has a payout ratio of 127.0% indicating that 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 $1.77 per share next year, which means the company should continue to be able to cover its $1.46 annual dividend with an expected future payout ratio of 82.5%.

Four Corners Property Trust Trading Down 0.6%

Shares of FCPT stock opened at $23.74 on Friday. The company’s 50-day moving average price is $24.95 and its 200-day moving average price is $24.35. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.36. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 21.58 and a beta of 0.82. Four Corners Property Trust has a twelve month low of $22.78 and a twelve month high of $28.98.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Wednesday, February 11th. The financial services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. Four Corners Property Trust had a net margin of 38.20% and a return on equity of 7.39%. The company had revenue of $75.67 million for the quarter, compared to the consensus estimate of $76.04 million. During the same period in the previous year, the firm earned $0.44 earnings per share. Four Corners Property Trust’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, equities analysts predict that Four Corners Property Trust will post 1.68 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on FCPT. Citizens Jmp raised Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 target price for the company in a research note on Wednesday. Raymond James Financial cut their price objective on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a research report on Tuesday, March 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Four Corners Property Trust in a research report on Friday, January 9th. Citigroup reiterated a “market perform” rating on shares of Four Corners Property Trust in a research report on Monday, January 5th. Finally, Evercore decreased their price objective on shares of Four Corners Property Trust from $29.00 to $26.00 and set an “in-line” rating on the stock in a report on Monday, December 15th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $27.86.

Four Corners Property Trust Company Profile

Four Corners Property Trust is a publicly traded real estate investment trust focused on acquiring and managing single-tenant commercial properties subject to long-term, triple-net leases. The company targets industrial, manufacturing, distribution, office and retail facilities leased to creditworthy tenants. By concentrating on net-lease structures, Four Corners seeks to generate stable, predictable income streams and mitigate operating cost variability.

The firm’s core activities include sourcing off-market and broker-sourced acquisition opportunities, conducting rigorous credit and property due diligence, and structuring lease agreements that shift property taxes, insurance and maintenance expenses to tenants.