Four Corners Property Trust, Inc. (NYSE:FCPT) Announces Quarterly Dividend of $0.35

Four Corners Property Trust, Inc. (NYSE:FCPT) announced a quarterly dividend on Tuesday, June 11th, Zacks reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.345 per share by the financial services provider on Monday, July 15th. This represents a $1.38 annualized dividend and a dividend yield of 5.64%. The ex-dividend date is Friday, June 28th.

Four Corners Property Trust has increased its dividend payment by an average of 3.6% annually over the last three years. Four Corners Property Trust has a payout ratio of 123.2% 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 $1.68 per share next year, which means the company should continue to be able to cover its $1.38 annual dividend with an expected future payout ratio of 82.1%.

Four Corners Property Trust Stock Up 0.7 %

Shares of NYSE:FCPT opened at $24.47 on Thursday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.40. Four Corners Property Trust has a 52-week low of $20.51 and a 52-week high of $27.60. The stock’s fifty day simple moving average is $24.21 and its 200-day simple moving average is $24.20. The company has a market capitalization of $2.25 billion, a P/E ratio of 22.87 and a beta of 1.05.

Insider Activity

In related news, CEO William H. Lenehan acquired 6,230 shares of Four Corners Property Trust stock in a transaction dated Monday, June 10th. The shares were acquired at an average cost of $24.05 per share, for a total transaction of $149,831.50. Following the completion of the transaction, the chief executive officer now directly owns 620,394 shares of the company’s stock, valued at $14,920,475.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Four Corners Property Trust news, CEO William H. Lenehan bought 6,230 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average cost of $24.05 per share, for a total transaction of $149,831.50. Following the completion of the purchase, the chief executive officer now owns 620,394 shares of the company’s stock, valued at approximately $14,920,475.70. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John S. Moody sold 7,230 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $24.56, for a total value of $177,568.80. Following the completion of the transaction, the director now owns 61,108 shares of the company’s stock, valued at $1,500,812.48. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Four Corners Property Trust Company Profile

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.