Four Corners Property Trust, Inc. (NYSE:FCPT) Announces Quarterly Dividend of $0.37

Key Points

• Four Corners declared a quarterly dividend of $0.3665 per share, payable April 15 to holders of record March 31, implying a ~5.7% yield.
• The dividend is currently not covered by earnings (127% payout ratio), though analysts forecast $1.77 EPS next year which would lower the payout to about 82.5% and improve coverage.
• Recent quarter beat EPS estimates with $0.45 reported vs. $0.43 expected and revenue up 10.7% year-over-year, despite revenue slightly missing consensus.

Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) declared a quarterly dividend on Thursday, March 5th. Stockholders of record on Tuesday, March 31st will be paid a dividend of 0.3665 per share by the financial services provider on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Tuesday, March 31st.

Four Corners Property Trust has decreased its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Four Corners Property Trust has a dividend 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 $1.77 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 82.5%.

Four Corners Property Trust Stock Down 0.1%

NYSE FCPT opened at $25.52 on Friday. Four Corners Property Trust has a twelve month low of $22.78 and a twelve month high of $29.81. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a market cap of $2.80 billion, a PE ratio of 23.20 and a beta of 0.82. The firm has a 50-day simple moving average of $24.57 and a 200 day simple moving average of $24.45.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. Four Corners Property Trust had a return on equity of 7.39% and a net margin of 38.20%.The firm had revenue of $75.67 million during the quarter, compared to analysts' expectations of $76.04 million. During the same quarter in the prior year, the firm posted $0.44 EPS. The company's revenue for the quarter was up 10.7% on a year-over-year basis. On average, research analysts forecast that Four Corners Property Trust will post 1.68 EPS for the current year.

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.

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