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

Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) announced a quarterly dividend on Tuesday, June 10th, RTT News reports. Investors of record on Monday, June 30th will be paid a dividend of 0.355 per share by the financial services provider on Tuesday, July 15th. This represents a $1.42 annualized dividend and a dividend yield of 5.14%. The ex-dividend date is Monday, June 30th.

Four Corners Property Trust has a dividend 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. Equities 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 Stock Performance

FCPT stock traded down $0.18 during midday trading on Tuesday, reaching $27.62. 519,944 shares of the company's stock traded hands, compared to its average volume of 638,544. Four Corners Property Trust has a 52-week low of $23.76 and a 52-week high of $30.93. The stock has a market cap of $2.78 billion, a P/E ratio of 25.82 and a beta of 0.86. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.36. The stock's 50-day moving average is $27.49 and its 200 day moving average is $27.87.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. The firm had revenue of $71.48 million during the quarter, compared to the consensus estimate of $67.17 million. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. The company's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.43 EPS. As a group, analysts anticipate that Four Corners Property Trust will post 1.68 EPS for the current year.

Insider Activity

In other Four Corners Property Trust news, CAO Niccole Stewart sold 9,100 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $27.28, for a total value of $248,248.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,204 shares of the company's stock, valued at approximately $851,245.12. The trade was a 22.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John S. Moody sold 7,667 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $27.42, for a total transaction of $210,229.14. Following the sale, the director now directly owns 53,821 shares in the company, valued at $1,475,771.82. This trade represents a 12.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company's stock.

Hedge Funds Weigh In On Four Corners Property Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC increased its position in Four Corners Property Trust by 20.3% during the first quarter. AQR Capital Management LLC now owns 34,273 shares of the financial services provider's stock worth $984,000 after purchasing an additional 5,786 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Four Corners Property Trust by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,416 shares of the financial services provider's stock valued at $1,648,000 after buying an additional 2,508 shares during the period. Jane Street Group LLC acquired a new stake in shares of Four Corners Property Trust during the 1st quarter worth approximately $2,627,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Four Corners Property Trust by 13.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 681,843 shares of the financial services provider's stock worth $19,569,000 after buying an additional 79,023 shares during the last quarter. Hedge funds and other institutional investors own 98.66% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. JMP Securities reiterated a "market perform" rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. Wells Fargo & Company decreased their price objective on Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating on the stock in a report on Monday, June 2nd. Finally, UBS Group lowered their target price on Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $29.40.

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.