Four Corners Property Trust, Inc. (NYSE:FCPT) Declares Dividend Increase – $0.13 Per Share

Four Corners Property Trust, Inc. (NYSE:FCPT) declared a monthly dividend on Thursday, September 10th. Investors of record on Friday, October 30th will be paid a dividend of $0.1265 per share by the financial services provider on Monday, November 16th. This represents a $1.52 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Friday, October 30th. This is a 3.5% increase from Four Corners Property Trust’s previous monthly dividend of $0.1222.

Four Corners Property Trust has a dividend payout ratio of 131.3% indicating that 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 $1.85 per share next year, which means the company should continue to be able to cover its $1.51 annual dividend with an expected future payout ratio of 81.6%.

Four Corners Property Trust Price Performance

Shares of Four Corners Property Trust stock opened at $22.17 on Wednesday. The firm has a fifty day moving average price of $23.06 and a two-hundred day moving average price of $24.50. Four Corners Property Trust has a fifty-two week low of $20.85 and a fifty-two week high of $26.86.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.16. The company had revenue of $78.42 million for the quarter, compared to the consensus estimate of $79.02 million. During the same quarter in the previous year, the firm posted $0.44 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts expect that Four Corners Property Trust will post 1.76 EPS for the current fiscal year.

About Four Corners Property Trust

Four Corners Property Trust, Inc is a real estate investment trust (REIT) that owns and manages a portfolio of primarily restaurant and retail properties in the United States. The company generally leases its properties to operators under long-term, net lease agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

FCPT’s portfolio is concentrated in restaurant locations but also includes properties leased to tenants in other retail and service-oriented industries.