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

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 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. Equities research 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

FCPT traded down $0.32 on Monday, hitting $28.99. 1,227,476 shares of the company’s stock were exchanged, compared to its average volume of 629,342. Four Corners Property Trust has a fifty-two week low of $22.38 and a fifty-two week high of $30.93. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 27.10 and a beta of 1.16. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $27.76 and a 200-day moving average price of $28.39.

Four Corners Property Trust (NYSE:FCPT) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.16. Four Corners Property Trust had a return on equity of 7.54% and a net margin of 37.48%. As a group, equities analysts anticipate that Four Corners Property Trust will post 1.68 earnings per share for the current year.

Analyst Ratings Changes

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

Four Corners Property Trust Company Profile

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.