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

Four Corners Property Trust, Inc. (NYSE:FCPT) announced a quarterly dividend on Monday, March 10th, RTT News reports. Investors 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 annualized dividend and a yield of 4.90%.

Four Corners Property Trust has raised its dividend by an average of 7.7% annually over the last three years. Four Corners Property Trust has a dividend payout ratio of 122.4% meaning 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 Stock Performance

FCPT opened at $28.99 on Tuesday. The firm’s fifty day simple moving average is $27.76 and its two-hundred day simple moving average is $28.39. Four Corners Property Trust has a 52-week low of $22.38 and a 52-week high of $30.93. The company 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 quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.36.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Equities analysts anticipate that Four Corners Property Trust will post 1.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

FCPT has been the topic of a number of research analyst reports. UBS Group initiated coverage on Four Corners Property Trust in a research note on Thursday, November 14th. They issued a “buy” rating and a $33.00 price target on the stock. Barclays dropped their target price on shares of Four Corners Property Trust from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Wells Fargo & Company raised their price target on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, JMP Securities restated a “market perform” rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Four Corners Property Trust has an average rating of “Moderate Buy” and an average 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.