Four Corners Property Trust, Inc. (FCPT) To Go Ex-Dividend on October 30th

Four Corners Property Trust, Inc. (NYSE:FCPT) declared a monthly dividend on Thursday, September 10th. Investors of record on Friday, October 30th will be given a dividend of $0.1265 per share by the financial services provider on Monday, November 16th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date is Friday, October 30th. This is a 3.5% increase from Four Corners Property Trust’s previous monthly dividend of $0.1222.

Four Corners Property Trust has a payout ratio of 131.3% 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 $1.85 per share next year, which means the company should continue to be able to cover its $1.51 annual dividend with an expected future payout ratio of 81.6%.

Four Corners Property Trust Stock Down 0.9%

Shares of NYSE FCPT opened at $22.17 on Wednesday. Four Corners Property Trust has a twelve month low of $20.85 and a twelve month high of $26.86. The stock has a fifty day simple moving average of $23.06 and a 200-day simple moving average of $24.50.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.16. The firm had revenue of $78.42 million for the quarter, compared to analysts’ expectations of $79.02 million. The business’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 earnings per share. As a group, analysts anticipate that Four Corners Property Trust will post 1.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FCPT has been the subject of a number of research reports. Citizens Jmp restated a “market outperform” rating and issued a $28.00 price objective on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Weiss Ratings lowered Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Huntington assumed coverage on Four Corners Property Trust in a research report on Wednesday, July 15th. They set an “outperform” rating and a $27.00 price objective on the stock. Citigroup reiterated a “market outperform” rating on shares of Four Corners Property Trust in a research note on Tuesday, August 25th. Finally, JPMorgan Chase & Co. decreased their target price on Four Corners Property Trust from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, October 6th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Four Corners Property Trust has an average rating of “Hold” and a consensus price target of $26.91.

Four Corners Property Trust Company Profile

Four Corners Property Trust, Inc is a real estate investment trust (REIT) that owns and manages a portfolio of primarily restaurant and retail properties in the United States. The company generally leases its properties to operators under long-term, net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

FCPT’s portfolio is concentrated in restaurant locations but also includes properties leased to tenants in other retail and service-oriented industries.