Four Corners Property Trust, Inc. (FCPT) to Distribute Monthly Dividend of $0.12 on September 15th

Four Corners Property Trust, Inc. (NYSE:FCPT) announced a monthly dividend on Monday, June 8th. Stockholders of record on Monday, August 31st will be paid a dividend of 0.1222 per share by the financial services provider on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Monday, August 31st.

Four Corners Property Trust has decreased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Four Corners Property Trust has a dividend 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 $1.86 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 78.5%.

Four Corners Property Trust Stock Performance

Four Corners Property Trust stock opened at $25.29 on Friday. The business has a 50 day moving average of $25.32 and a 200-day moving average of $25.06. Four Corners Property Trust has a 1 year low of $22.78 and a 1 year high of $26.86. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market capitalization of $2.78 billion, a P/E ratio of 22.78 and a beta of 0.79.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.16. Four Corners Property Trust had a net margin of 38.70% and a return on equity of 7.35%. The business had revenue of $78.42 million during the quarter, compared to analyst estimates of $79.02 million. During the same quarter last year, the business earned $0.44 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. On average, equities research analysts predict that Four Corners Property Trust will post 1.76 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on FCPT. Wells Fargo & Company upped their price target on shares of Four Corners Property Trust from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Citigroup reissued a “market outperform” rating on shares of Four Corners Property Trust in a research note on Tuesday. UBS Group restated a “buy” rating and issued a $30.00 price objective on shares of Four Corners Property Trust in a report on Thursday, July 9th. Jefferies Financial Group set a $28.00 target price on Four Corners Property Trust in a research report on Tuesday. Finally, Huntington assumed coverage on Four Corners Property Trust in a report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 target price on the stock. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Four Corners Property Trust presently has an average rating of “Moderate Buy” and an average target price of $27.80.

About Four Corners Property Trust

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.