STORE Capital Corporation (STOR) Issues FY17 Earnings Guidance

STORE Capital Corporation (NYSE:STOR) updated its FY17 earnings guidance on Thursday. The company provided EPS guidance of $1.69-1.71 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.64. STORE Capital Corporation also updated its FY18 guidance to $1.78-1.84 EPS.

A number of equities analysts recently issued reports on STOR shares. TheStreet raised shares of STORE Capital Corporation from a c rating to a b- rating in a research note on Thursday, August 3rd. BidaskClub raised shares of STORE Capital Corporation from a hold rating to a buy rating in a research note on Saturday, August 19th. Mizuho raised shares of STORE Capital Corporation from a neutral rating to a buy rating and raised their target price for the company from $23.50 to $27.00 in a research note on Thursday, August 31st. Stifel Nicolaus reaffirmed a buy rating and set a $25.50 target price on shares of STORE Capital Corporation in a research note on Friday, July 14th. Finally, Robert W. Baird reaffirmed a buy rating on shares of STORE Capital Corporation in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $27.09.

STORE Capital Corporation (STOR) opened at $25.53 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $4,794.13, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 3.09 and a beta of 0.22.

STORE Capital Corporation (NYSE:STOR) last announced its quarterly earnings data 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 firm had revenue of $114.21 million for the quarter, compared to the consensus estimate of $112.27 million. STORE Capital Corporation had a net margin of 35.67% and a return on equity of 5.50%. The firm’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 earnings per share. analysts expect that STORE Capital Corporation will post 1.63 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 4.86%. This is an increase from STORE Capital Corporation’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, September 28th. STORE Capital Corporation’s dividend payout ratio (DPR) is presently 139.33%.

In other STORE Capital Corporation news, Director William Franklin Hipp acquired 4,000 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was acquired at an average cost of $25.18 per share, with a total value of $100,720.00. Following the purchase, the director now directly owns 18,499 shares of the company’s stock, valued at approximately $465,804.82. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.90% of the company’s stock.

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A hedge fund recently raised its stake in STORE Capital Corporation stock. The Manufacturers Life Insurance Company grew its holdings in STORE Capital Corporation (NYSE:STOR) by 8.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,356 shares of the real estate investment trust’s stock after purchasing an additional 409 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in STORE Capital Corporation were worth $120,000 at the end of the most recent reporting period.

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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