Four Corners Property Trust, Inc. (NYSE:FCPT) Plans $0.12 Monthly Dividend

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) annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Friday, July 31st.

Four Corners Property Trust has decreased its dividend payment 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. Analysts expect Four Corners Property Trust to earn $1.83 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 79.8%.

Four Corners Property Trust Stock Performance

Shares of FCPT stock opened at $24.49 on Tuesday. The stock has a market cap of $2.69 billion, a PE ratio of 21.86 and a beta of 0.80. The business has a 50-day simple moving average of $24.78 and a 200-day simple moving average of $24.49. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.35. Four Corners Property Trust has a 52-week low of $22.78 and a 52-week high of $28.11.

Four Corners Property Trust (NYSE:FCPT) last issued its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.14). The company had revenue of $78.17 million during the quarter, compared to analyst estimates of $73.34 million. Four Corners Property Trust had a net margin of 38.74% and a return on equity of 7.38%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm earned $0.44 EPS. On average, equities analysts expect that Four Corners Property Trust will post 1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on Four Corners Property Trust from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Raymond James Financial decreased their price objective on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating for the company in a report on Tuesday, March 17th. BMO Capital Markets began coverage on Four Corners Property Trust in a report on Friday, April 17th. They issued a “market perform” rating and a $27.00 price target for the company. Citigroup reaffirmed a “market outperform” rating on shares of Four Corners Property Trust in a report on Monday, June 1st. Finally, Barclays upped their price target on Four Corners Property Trust from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 21st. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $28.13.

Four Corners Property Trust Company Profile

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.