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

by · The Cerbat Gem

Four Corners Property Trust, Inc. (NYSE:FCPT – Get Free Report) announced a monthly dividend on Monday, June 8th. Stockholders of record on Monday, August 31st will be given a dividend of 0.1222 per share by the financial services provider on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Monday, August 31st.

Four Corners Property Trust has decreased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Four Corners Property Trust has a payout ratio of 127.0% 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 $1.83 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 Trading Down 0.9%

FCPT stock opened at $24.49 on Tuesday. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 21.86 and a beta of 0.80. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $24.78 and a 200-day simple moving average of $24.49. 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 – Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.14). The firm had revenue of $78.17 million for the quarter, compared to analyst estimates of $73.34 million. Four Corners Property Trust had a return on equity of 7.38% and a net margin of 38.74%.The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.44 earnings per share. On average, equities research analysts expect that Four Corners Property Trust will post 1.75 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FCPT shares. Citigroup reiterated a “market outperform” rating on shares of Four Corners Property Trust in a report on Monday, June 1st. Wells Fargo & Company increased their price target 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. BMO Capital Markets started 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. Citizens Jmp upgraded Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 price target for the company in a report on Wednesday, March 25th. Finally, Raymond James Financial lowered their price target 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. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $28.13.

Read Our Latest Analysis on FCPT

Four Corners Property Trust Company Profile

(Get Free Report)

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.

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