Four Corners Property Trust, Inc. (NYSE:FCPT) Plans 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date is Monday, June 30th.

Four Corners Property Trust has a dividend payout ratio of 123.5% indicating that 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 $1.77 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 Down 1.1%

FCPT traded down $0.31 during trading on Friday, reaching $27.37. The stock had a trading volume of 448,929 shares, compared to its average volume of 641,128. The stock's 50 day moving average is $27.52 and its two-hundred day moving average is $27.84. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 25.58 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. Four Corners Property Trust has a one year low of $24.14 and a one year high of $30.93.

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

Analyst Ratings Changes

FCPT has been the subject of a number of analyst reports. UBS Group lowered their price target on shares of Four Corners Property Trust from $33.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Wells Fargo & Company lowered their price objective on shares of Four Corners Property Trust from $31.00 to $30.00 and set an "overweight" rating for the company in a research report on Monday, June 2nd. Finally, JMP Securities restated a "market perform" rating on shares of Four Corners Property Trust in a research note on Thursday, February 13th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.40.

Insider Buying and Selling

In related news, Director John S. Moody sold 7,667 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $27.42, for a total transaction of $210,229.14. Following the transaction, the director now owns 53,821 shares of the company's stock, valued at approximately $1,475,771.82. This represents a 12.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Niccole Stewart sold 9,100 shares of the company's stock in a transaction 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 sale, the chief accounting officer now 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 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

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC lifted its stake 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 valued at $984,000 after buying an additional 5,786 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Four Corners Property Trust by 4.6% during the first 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 purchasing an additional 2,508 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Four Corners Property Trust during the 1st quarter worth $2,627,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Four Corners Property Trust by 13.1% in the first 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 valued at $19,569,000 after purchasing an additional 79,023 shares during the last quarter. Institutional investors own 98.66% of the company's stock.

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.