Four Corners Property Trust, Inc. (FCPT) to Distribute Monthly Dividend of $0.13 on November 16th

Four Corners Property Trust, Inc. (NYSE:FCPT) announced a monthly dividend on Thursday, September 10th. Investors of record on Friday, October 30th will be paid a dividend of $0.1265 per share by the financial services provider on Monday, November 16th. This represents a $1.52 annualized dividend 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. Research 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 Performance

Shares of Four Corners Property Trust stock opened at $22.17 on Wednesday. Four Corners Property Trust has a fifty-two week low of $20.85 and a fifty-two week high of $26.86. The company’s 50 day moving average price is $23.06 and its two-hundred day moving average price is $24.50.

Four Corners Property Trust (NYSE:FCPT) last announced its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.16. The company had revenue of $78.42 million for the quarter, compared to analyst estimates of $79.02 million. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $0.44 earnings per share. On average, research analysts anticipate that Four Corners Property Trust will post 1.76 EPS for the current year.

Analyst Upgrades and Downgrades

FCPT has been the subject of several research reports. UBS Group reiterated a “buy” rating and issued a $30.00 target price on shares of Four Corners Property Trust in a research report on Thursday, July 9th. Huntington began coverage on Four Corners Property Trust in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $27.00 price objective for the company. JPMorgan Chase & Co. cut their target price on shares of Four Corners Property Trust from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 6th. Citizens Jmp reissued a “market outperform” rating and set a $28.00 target price on shares of Four Corners Property Trust in a report on Tuesday, August 25th. Finally, Citigroup restated a “market outperform” rating on shares of Four Corners Property Trust in a research report on Tuesday, August 25th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.