Four Corners Property Trust, Inc. (NYSE:FCPT – Get Free Report) announced a monthly dividend on Monday, June 8th. Shareholders of record on Friday, July 31st will be paid a dividend of 0.1222 per share by the financial services provider on Monday, August 17th. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date is Friday, July 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 every year for the last 5 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 $1.83 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 Stock Down 0.9%
Shares of NYSE FCPT opened at $24.49 on Tuesday. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $2.69 billion, a PE ratio of 21.86 and a beta of 0.80. The stock’s fifty day simple moving average is $24.78 and its two-hundred day simple moving average is $24.49. Four Corners Property Trust has a 12-month low of $22.78 and a 12-month high of $28.11.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on Four Corners Property Trust from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Raymond James Financial dropped their target price on Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 17th. Citizens Jmp upgraded Four Corners Property Trust from a “market perform” rating to an “outperform” rating and set a $28.00 target price on the stock in a research note on Wednesday, March 25th. Weiss Ratings downgraded Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday. Finally, Barclays boosted their target price on Four Corners Property Trust from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $28.13.
Read Our Latest Report on Four Corners Property Trust
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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