Another Tasty Dividend Increase
Four Corners Property Trust raises their dividend by 2.3% to $0.34. The new $0.34/share quarterly dividend is a 2.3% increase from the prior dividend of $0.3325. Forward yield 5.03% and payable Jan. 13; for shareholders of record Dec. 30; ex-div Dec. 29.
Reasons to like FCPT
It has a reasonable market cap of $2.27B and yields 4.92%. The QUANT rating is adequate, so I would only add shares if the price were to dip.
Revenue is increasing and Funds from Operations (FFO) are more than sufficient to cover the dividend.
The REIT is diversified into a number of well-known restaurant brands.
Cindie and I own 300 shares of FCPT as a long-term investment.
FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant 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.
LINK: FCPT Website
LINK: FCPT Acquisitions