Four Corners Property Trust, Inc. (NYSE:FCPT) Announces Quarterly Dividend of $0.36

Key Points

• Four Corners Property Trust, Inc. declared a quarterly dividend of $0.36, payable on October 15th to stockholders of record by September 30th, representing a 5.5% dividend yield.
• The company currently has a payout ratio of 123.5%, relying on its balance sheet to cover dividends, but is expected to post earnings of $1.77 per share next year.
• CEO William H. Lenehan recently acquired 7,850 shares of the company's stock, increasing his ownership stake and reflecting confidence in the firm's future performance.

Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) declared a quarterly dividend on Monday, September 15th, RTT News reports. Stockholders of record on Tuesday, September 30th will be paid a dividend of 0.355 per share by the financial services provider on Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 5.5%.

Four Corners Property Trust has a payout ratio of 123.5% meaning 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 $1.77 per share next year, which means the company should continue to be able to cover its $1.42 annual dividend with an expected future payout ratio of 80.2%.

Four Corners Property Trust Price Performance

Shares of FCPT traded up $0.20 during mid-day trading on Monday, hitting $25.65. The company's stock had a trading volume of 644,383 shares, compared to its average volume of 682,796. The firm has a 50-day moving average price of $25.97 and a 200 day moving average price of $27.10. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 23.75 and a beta of 0.86. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.12 and a quick ratio of 0.12. Four Corners Property Trust has a fifty-two week low of $25.00 and a fifty-two week high of $30.93.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. The company had revenue of $72.84 million for the quarter, compared to analysts' expectations of $70.27 million. Four Corners Property Trust had a net margin of 37.87% and a return on equity of 7.40%. The business's revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS. On average, research analysts predict that Four Corners Property Trust will post 1.68 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO William H. Lenehan acquired 7,850 shares of the firm's stock in a transaction on Friday, September 12th. The shares were purchased at an average price of $25.40 per share, with a total value of $199,390.00. Following the acquisition, the chief executive officer directly owned 698,426 shares in the company, valued at $17,740,020.40. The trade was a 1.14% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Four Corners Property Trust

Hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Four Corners Property Trust by 9.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,551 shares of the financial services provider's stock valued at $274,000 after acquiring an additional 796 shares during the period. KBC Group NV raised its position in shares of Four Corners Property Trust by 40.8% in the 1st quarter. KBC Group NV now owns 5,212 shares of the financial services provider's stock valued at $150,000 after acquiring an additional 1,510 shares during the period. GAMMA Investing LLC raised its position in shares of Four Corners Property Trust by 23.6% in the 1st quarter. GAMMA Investing LLC now owns 6,457 shares of the financial services provider's stock valued at $185,000 after acquiring an additional 1,231 shares during the period. Asset Management One Co. Ltd. raised its position in shares of Four Corners Property Trust by 9.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 275,185 shares of the financial services provider's stock valued at $7,898,000 after acquiring an additional 23,884 shares during the period. Finally, Retirement Planning Co of New England Inc. acquired a new stake in shares of Four Corners Property Trust in the 1st quarter valued at approximately $437,000. 98.66% of the stock is currently owned by institutional investors and hedge funds.

About Four Corners Property Trust

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.

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