Four Corners Property Trust, Inc. to Issue Quarterly Dividend of $0.37 (NYSE:FCPT)

Four Corners Property Trust, Inc. (NYSE:FCPT) declared a quarterly dividend on Monday, June 8th. Investors of record on Tuesday, June 30th will be given a dividend of 0.3665 per share by the financial services provider on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Tuesday, June 30th.

Four Corners Property Trust has decreased its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 5 years. Four Corners Property Trust has a payout ratio of 127.0% 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 $1.83 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 79.8%.

Four Corners Property Trust Stock Down 0.9%

FCPT stock opened at $24.49 on Tuesday. The company has a market cap of $2.69 billion, a PE ratio of 21.86 and a beta of 0.80. The business has a 50-day simple moving average of $24.78 and a 200 day simple moving average of $24.49. Four Corners Property Trust has a 52 week low of $22.78 and a 52 week high of $28.11. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.35.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.14). Four Corners Property Trust had a net margin of 38.74% and a return on equity of 7.38%. The company had revenue of $78.17 million during the quarter, compared to analyst estimates of $73.34 million. During the same period last year, the firm earned $0.44 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts anticipate that Four Corners Property Trust will post 1.75 EPS for the current fiscal year.

Insider Activity

In other news, CEO William H. Lenehan acquired 3,961 shares of the stock in a transaction dated Tuesday, May 5th. The stock was bought at an average price of $25.23 per share, with a total value of $99,936.03. Following the completion of the purchase, the chief executive officer directly owned 775,696 shares of the company’s stock, valued at $19,570,810.08. This represents a 0.51% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by corporate insiders.

Institutional Trading of Four Corners Property Trust

Institutional investors have recently added to or reduced their stakes in the stock. B&I Capital AG boosted its holdings in Four Corners Property Trust by 19.7% in the fourth quarter. B&I Capital AG now owns 321,787 shares of the financial services provider’s stock valued at $7,420,000 after acquiring an additional 53,000 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Four Corners Property Trust by 20,354.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,615,583 shares of the financial services provider’s stock valued at $106,435,000 after acquiring an additional 4,593,018 shares during the last quarter. Lasalle Investment Management Securities LLC bought a new stake in Four Corners Property Trust in the fourth quarter valued at approximately $32,889,000. Legal & General Group Plc boosted its holdings in Four Corners Property Trust by 21.5% in the fourth quarter. Legal & General Group Plc now owns 732,656 shares of the financial services provider’s stock valued at $16,895,000 after acquiring an additional 129,610 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in Four Corners Property Trust by 18.9% in the third quarter. Public Sector Pension Investment Board now owns 407,427 shares of the financial services provider’s stock valued at $9,941,000 after acquiring an additional 64,906 shares during the last quarter. 98.66% of the stock is currently owned by institutional investors.

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.