HPM Partners LLC bought a new stake in shares of Store Capital Corp (NYSE:STOR) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 9,111 shares of the real estate investment trust’s stock, valued at approximately $250,000.
Other large investors have also added to or reduced their stakes in the company. LSV Asset Management purchased a new position in Store Capital during the 2nd quarter valued at about $257,000. State of Wisconsin Investment Board grew its stake in Store Capital by 146.8% during the 2nd quarter. State of Wisconsin Investment Board now owns 84,276 shares of the real estate investment trust’s stock valued at $2,309,000 after acquiring an additional 50,122 shares in the last quarter. Centersquare Investment Management LLC grew its stake in Store Capital by 27.0% during the 2nd quarter. Centersquare Investment Management LLC now owns 2,051,424 shares of the real estate investment trust’s stock valued at $56,209,000 after acquiring an additional 435,959 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Store Capital during the 2nd quarter valued at about $2,006,000. Finally, Chicago Equity Partners LLC purchased a new position in Store Capital during the 2nd quarter valued at about $553,000. 93.86% of the stock is currently owned by institutional investors.
Several research firms have weighed in on STOR. Zacks Investment Research cut Store Capital from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. Janney Montgomery Scott cut Store Capital from a “buy” rating to a “neutral” rating in a research note on Friday, July 13th. Stifel Nicolaus reaffirmed a “buy” rating and set a $29.00 target price on shares of Store Capital in a research note on Sunday, July 15th. BMO Capital Markets began coverage on Store Capital in a research note on Tuesday, September 18th. They set a “buy” rating and a $32.00 target price on the stock. Finally, Morgan Stanley raised Store Capital from an “equal weight” rating to an “overweight” rating and set a $31.00 target price on the stock in a research note on Monday, October 1st. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $29.00.
Shares of NYSE STOR traded up $0.03 during trading hours on Friday, hitting $27.43. The stock had a trading volume of 1,071,046 shares, compared to its average volume of 1,544,578. The stock has a market cap of $5.71 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 3.18 and a beta of 0.15. Store Capital Corp has a 52 week low of $22.51 and a 52 week high of $29.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36.
Store Capital (NYSE:STOR) last announced its quarterly earnings results on Thursday, August 2nd. The real estate investment trust reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.13). The firm had revenue of $131.20 million during the quarter, compared to the consensus estimate of $132.13 million. Store Capital had a net margin of 37.26% and a return on equity of 5.60%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. On average, analysts predict that Store Capital Corp will post 1.75 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be paid a $0.33 dividend. This is a boost from Store Capital’s previous quarterly dividend of $0.31. The ex-dividend date is Thursday, September 27th. This represents a $1.32 annualized dividend and a dividend yield of 4.81%. Store Capital’s payout ratio is presently 77.19%.
About Store Capital
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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