STORE Capital Corporation (STOR) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of STORE Capital Corporation (NYSE:STOR) from a buy rating to a hold rating in a report published on Wednesday 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. “

STOR has been the subject of several other reports. Mizuho raised STORE Capital Corporation from a neutral rating to a buy rating and boosted their price target for the stock from $23.50 to $27.00 in a research report on Thursday, August 31st. BidaskClub lowered STORE Capital Corporation from a hold rating to a sell rating in a research report on Sunday. KeyCorp reaffirmed a hold rating on shares of STORE Capital Corporation in a research report on Wednesday, October 4th. Robert W. Baird reaffirmed a buy rating on shares of STORE Capital Corporation in a research report on Friday, October 20th. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $25.50 target price on shares of STORE Capital Corporation in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $27.09.

STORE Capital Corporation (NYSE:STOR) last released its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.07). The company had revenue of $114.21 million during the quarter, compared to the consensus estimate of $112.27 million. STORE Capital Corporation had a return on equity of 5.98% and a net margin of 38.71%. The company’s revenue was up 24.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 earnings per share.

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The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were given a dividend of $0.31 per share. This is a positive change from STORE Capital Corporation’s previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a yield of 5.02%. The ex-dividend date was Thursday, September 28th. STORE Capital Corporation’s dividend payout ratio is currently 126.53%.

In other news, Director William Franklin Hipp purchased 4,000 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were acquired at an average price of $25.18 per share, for a total transaction of $100,720.00. Following the purchase, the director now owns 18,499 shares in the company, valued at $465,804.82. The acquisition 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.

Institutional investors have recently bought and sold shares of the business. Penserra Capital Management LLC grew its stake in STORE Capital Corporation by 19.9% during the 2nd quarter. Penserra Capital Management LLC now owns 4,530 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 752 shares during the last quarter. Public Employees Retirement Association of Colorado grew its stake in STORE Capital Corporation by 12.1% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 5,363 shares of the real estate investment trust’s stock valued at $120,000 after purchasing an additional 580 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in STORE Capital Corporation by 8.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,356 shares of the real estate investment trust’s stock valued at $120,000 after purchasing an additional 409 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in STORE Capital Corporation by 12.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,675 shares of the real estate investment trust’s stock valued at $136,000 after purchasing an additional 619 shares during the last quarter. Finally, TCI Wealth Advisors Inc. grew its stake in STORE Capital Corporation by 14.0% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 6,164 shares of the real estate investment trust’s stock valued at $138,000 after purchasing an additional 759 shares during the last quarter.

About STORE Capital Corporation

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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