STORE Capital Corporation (NYSE:STOR) had its target price boosted by Stifel Nicolaus from $25.00 to $27.00 in a research report sent to investors on Monday morning. The firm currently has a buy rating on the real estate investment trust’s stock.
A number of other research firms have also weighed in on STOR. Zacks Investment Research raised STORE Capital Corporation from a sell rating to a hold rating in a research note on Saturday. KeyCorp reaffirmed a hold rating on shares of STORE Capital Corporation in a research note on Wednesday, October 4th. Mizuho raised STORE Capital Corporation from a neutral rating to a buy rating and upped their price target for the company from $23.50 to $27.00 in a research note on Thursday, August 31st. BidaskClub lowered STORE Capital Corporation from a buy rating to a hold rating in a research note on Friday, October 6th. Finally, Ladenburg Thalmann Financial Services reaffirmed a hold rating on shares of STORE Capital Corporation in a research note on Wednesday, August 16th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $27.22.
STORE Capital Corporation (STOR) opened at 25.77 on Monday. STORE Capital Corporation has a 52-week low of $19.65 and a 52-week high of $28.58. The stock’s 50 day moving average price is $25.35 and its 200-day moving average price is $23.37. The company has a market capitalization of $4.89 billion, a P/E ratio of 25.98 and a beta of 0.23.
STORE Capital Corporation (NYSE:STOR) last issued its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.07). The firm had revenue of $114.21 million during the quarter, compared to analyst estimates of $112.27 million. STORE Capital Corporation had a return on equity of 5.98% and a net margin of 38.71%. The business’s revenue was up 24.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 earnings per share. Analysts predict that STORE Capital Corporation will post $0.87 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 4.81%. The ex-dividend date of this dividend was Thursday, September 28th. This is a positive change from STORE Capital Corporation’s previous quarterly dividend of $0.29. STORE Capital Corporation’s dividend payout ratio is 126.53%.
In other news, Director William Franklin Hipp acquired 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were purchased at an average price of $25.18 per share, for a total transaction of $100,720.00. Following the acquisition, the director now owns 18,499 shares of the company’s stock, valued at $465,804.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of STORE Capital Corporation by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 26,355,624 shares of the real estate investment trust’s stock valued at $591,684,000 after buying an additional 220,040 shares during the period. Berkshire Hathaway Inc. purchased a new stake in shares of STORE Capital Corporation in the 2nd quarter valued at $418,057,000. CI Global Investments Inc. raised its holdings in shares of STORE Capital Corporation by 154.8% in the 2nd quarter. CI Global Investments Inc. now owns 12,744,954 shares of the real estate investment trust’s stock valued at $286,124,000 after buying an additional 7,743,682 shares during the period. Principal Financial Group Inc. raised its holdings in shares of STORE Capital Corporation by 22.0% in the 2nd quarter. Principal Financial Group Inc. now owns 12,138,830 shares of the real estate investment trust’s stock valued at $272,516,000 after buying an additional 2,189,912 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of STORE Capital Corporation by 11.4% in the 2nd quarter. BlackRock Inc. now owns 11,315,101 shares of the real estate investment trust’s stock valued at $254,025,000 after buying an additional 1,162,257 shares during the period.
STORE Capital Corporation Company Profile
STORE Capital Corporation is an internally managed net-lease real estate investment trust. The Company is engaged in the acquisition, investment and management of single tenant operational real estate (STORE) properties. As of December 31, 2016, the Company owned a portfolio that consisted of investments in 1,660 property locations operated by 360 customers across 48 states.
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