Four Corners Property Trust, Inc. (NYSE:FCPT – Get Free Report) declared a monthly dividend on Monday, June 8th. Investors of record on Wednesday, September 30th will be given a dividend of 0.1222 per share by the financial services provider on Thursday, October 15th. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Wednesday, September 30th.
Four Corners Property Trust has decreased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Four Corners Property Trust has a 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. 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 Performance
FCPT opened at $24.49 on Tuesday. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 21.86 and a beta of 0.80. The company has a fifty day moving average of $24.78 and a 200 day moving average of $24.49. Four Corners Property Trust has a fifty-two week low of $22.78 and a fifty-two week high of $28.11. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.15 and a current ratio of 0.15.
Analyst Ratings Changes
Several equities analysts have commented on FCPT shares. Weiss Ratings lowered shares of Four Corners Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday. Citigroup reaffirmed a “market outperform” rating on shares of Four Corners Property Trust in a research note on Monday, June 1st. Raymond James Financial cut their target price on shares of Four Corners Property Trust from $29.00 to $28.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 17th. Barclays raised their target price on shares of Four Corners Property Trust from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 21st. Finally, BMO Capital Markets started coverage on shares of Four Corners Property Trust in a research report on Friday, April 17th. They issued a “market perform” rating and a $27.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $28.13.
Check Out Our Latest Analysis on FCPT
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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