Four Corners Property Trust, Inc. (FCPT) to Distribute Monthly Dividend of $0.12 on August 17th

Four Corners Property Trust, Inc. (NYSE:FCPT) declared a monthly dividend on Monday, June 8th. Stockholders of record on Friday, July 31st will be paid a dividend of 0.1222 per share by the financial services provider on Monday, August 17th. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Friday, July 31st.

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 dividend 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. Equities analysts expect Four Corners Property Trust to earn $1.84 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 79.3%.

Four Corners Property Trust Stock Performance

NYSE FCPT opened at $26.04 on Wednesday. The company has a fifty day simple moving average of $25.11 and a 200 day simple moving average of $24.95. Four Corners Property Trust has a 12-month low of $22.78 and a 12-month high of $26.86. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.35. The company has a market cap of $2.86 billion, a P/E ratio of 23.25 and a beta of 0.80.

Four Corners Property Trust (NYSE:FCPT) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.14). Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.The business had revenue of $78.17 million for the quarter, compared to analyst estimates of $73.34 million. During the same quarter in the previous year, the company posted $0.44 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. Sell-side analysts predict that Four Corners Property Trust will post 1.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FCPT has been the subject of several recent research reports. UBS Group reissued a “buy” rating and set a $30.00 target price on shares of Four Corners Property Trust in a research report on Thursday, July 9th. Citigroup reaffirmed a “market outperform” rating on shares of Four Corners Property Trust in a research report on Monday, June 1st. Wells Fargo & Company lifted their price target on Four Corners Property Trust from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Huntington assumed coverage on Four Corners Property Trust in a report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 price objective for the company. Finally, Weiss Ratings raised Four Corners Property Trust from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.78.

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.