Four Corners Property Trust, Inc. (FCPT) To Go Ex-Dividend on December 31st

Four Corners Property Trust, Inc. (NYSE:FCPT) announced a quarterly dividend on Monday, November 11th,Zacks Dividends reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.355 per share by the financial services provider on Wednesday, January 15th. This represents a $1.42 annualized dividend and a dividend yield of 5.09%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Four Corners Property Trust’s previous quarterly dividend of $0.35.

Four Corners Property Trust has raised its dividend by an average of 3.6% annually over the last three years. Four Corners Property Trust has a payout ratio of 121.1% 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 $1.70 per share next year, which means the company should continue to be able to cover its $1.38 annual dividend with an expected future payout ratio of 81.2%.

Four Corners Property Trust Stock Performance

Shares of NYSE FCPT traded down $0.03 during mid-day trading on Wednesday, hitting $27.90. The company had a trading volume of 711,954 shares, compared to its average volume of 510,498. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 26.07 and a beta of 1.11. Four Corners Property Trust has a 12 month low of $22.38 and a 12 month high of $30.93. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.17 and a quick ratio of 0.17. The firm’s 50 day simple moving average is $28.99 and its two-hundred day simple moving average is $26.78.

Four Corners Property Trust (NYSE:FCPT) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.14). The business had revenue of $66.79 million for the quarter, compared to the consensus estimate of $63.50 million. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS. As a group, equities research analysts forecast that Four Corners Property Trust will post 1.66 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Raymond James lifted their target price on Four Corners Property Trust from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a report on Wednesday, August 28th. Evercore ISI lifted their price target on Four Corners Property Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $32.00 price target (up previously from $28.00) on shares of Four Corners Property Trust in a report on Tuesday, October 1st.

About Four Corners Property Trust

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.