Store Capital (STOR) Cut to Hold at Zacks Investment Research

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Zacks Investment Research lowered shares of Store Capital (NYSE:STOR) from a buy rating to a hold rating in a report issued on Thursday morning.

According to Zacks, “STORE Capital Corporation is an internally managed net-lease real estate investment trust. It is engaged in the acquisition, investment and management of Single Tenant Operational Real Estate (STORE properties). The Company provides net-lease solutions principally to middle-market and larger companies that own STORE Properties. It invests in single-tenant real estate such as chain restaurants, supermarkets, health clubs, and education, retail, service, and distribution facilities. STORE Capital Corporation is based in Scottsdale, Arizona. “

Other equities research analysts have also issued research reports about the company. ValuEngine raised Store Capital from a hold rating to a buy rating in a research note on Friday, May 4th. Janney Montgomery Scott downgraded Store Capital from a buy rating to a neutral rating in a report on Friday, July 13th. Stifel Nicolaus restated a buy rating and set a $29.00 price objective on shares of Store Capital in a report on Sunday, July 15th. Finally, LADENBURG THALM/SH SH reiterated a hold rating on shares of Store Capital in a report on Friday, August 3rd. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $27.67.

STOR stock traded down $0.22 during midday trading on Thursday, hitting $28.28. 1,215,949 shares of the company’s stock were exchanged, compared to its average volume of 1,333,016. Store Capital has a 1-year low of $22.51 and a 1-year high of $28.68. The stock has a market cap of $5.86 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 3.26 and a beta of 0.12. The company has a quick ratio of 0.34, a current ratio of 0.36 and a debt-to-equity ratio of 0.52.

Store Capital (NYSE:STOR) last released its earnings results on Thursday, August 2nd. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.13). Store Capital had a net margin of 37.26% and a return on equity of 5.60%. The company had revenue of $131.20 million during the quarter, compared to analysts’ expectations of $132.13 million. During the same quarter last year, the business posted $0.42 earnings per share. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. sell-side analysts anticipate that Store Capital will post 1.75 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 16th. Shareholders of record on Friday, June 29th were given a $0.31 dividend. The ex-dividend date was Thursday, June 28th. This represents a $1.24 dividend on an annualized basis and a yield of 4.38%. Store Capital’s payout ratio is currently 72.51%.

Several hedge funds have recently modified their holdings of STOR. Envestnet Asset Management Inc. lifted its stake in Store Capital by 13.1% in the second quarter. Envestnet Asset Management Inc. now owns 69,237 shares of the real estate investment trust’s stock worth $1,897,000 after acquiring an additional 8,039 shares during the period. Artisan Partners Limited Partnership increased its holdings in Store Capital by 0.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 1,671,420 shares of the real estate investment trust’s stock worth $45,797,000 after buying an additional 6,286 shares in the last quarter. FMR LLC increased its holdings in Store Capital by 0.4% in the 2nd quarter. FMR LLC now owns 21,616,266 shares of the real estate investment trust’s stock worth $592,287,000 after buying an additional 80,498 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Store Capital by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,648,579 shares of the real estate investment trust’s stock worth $72,570,000 after purchasing an additional 29,687 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Store Capital by 1.5% in the second quarter. Legal & General Group Plc now owns 610,806 shares of the real estate investment trust’s stock worth $16,736,000 after purchasing an additional 9,184 shares during the last quarter. 95.87% of the stock is currently owned by institutional investors and hedge funds.

Store Capital Company Profile

STORE Capital Corporation is an internally managed net-lease real estate investment trust, or REIT, that is the leader in the acquisition, investment and management of Single Tenant Operational Real Estate, which is its target market and the inspiration for its name. STORE Capital is one of the largest and fastest growing net-lease REITs and owns a large, well-diversified portfolio that consists of investments in 2,084 property locations, substantially all of which are profit centers, in 49 states.

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