Four Corners Property Trust Inc (NYSE:FCPT) declared a quarterly dividend on Friday, March 16th, Wall Street Journal reports. Investors of record on Friday, March 30th will be given a dividend of 0.275 per share by the financial services provider on Friday, April 13th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend is Wednesday, March 28th.
Four Corners Property Trust has a payout ratio of 80.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Four Corners Property Trust to earn $1.49 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 73.8%.
Four Corners Property Trust (NYSE:FCPT) opened at $22.63 on Friday. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.99. Four Corners Property Trust has a 12 month low of $21.28 and a 12 month high of $26.96. The company has a market cap of $1,367.22, a P/E ratio of 19.34 and a beta of 0.08.
A number of analysts have issued reports on the company. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and issued a $26.00 price objective (down previously from $28.00) on shares of Four Corners Property Trust in a research note on Friday, February 23rd. Zacks Investment Research downgraded Four Corners Property Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $26.75.
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About Four Corners Property Trust
Four Corners Property Trust, Inc is a self-administered company and real estate investment trust (REIT), which owns, acquires and leases properties for use in the restaurant and food service related industries. The Company operates through two segments: real estate operations and restaurant operations.
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