UBS Asset Management Americas Inc. increased its position in shares of Store Capital Corp. (NYSE:STOR) by 85.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 335,160 shares of the company’s stock after buying an additional 154,294 shares during the period. UBS Asset Management Americas Inc. owned about 0.23% of Store Capital Corp. worth $9,871,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pioneer Investment Management Inc. raised its position in Store Capital Corp. by 18.2% in the fourth quarter. Pioneer Investment Management Inc. now owns 108,518 shares of the company’s stock worth $2,518,000 after buying an additional 16,700 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Store Capital Corp. during the first quarter worth about $256,000. First Manhattan Co. raised its position in Store Capital Corp. by 2.9% in the first quarter. First Manhattan Co. now owns 102,310 shares of the company’s stock worth $2,647,000 after buying an additional 2,900 shares in the last quarter. Virginia Retirement System bought a new position in Store Capital Corp. during the first quarter worth about $9,700,000. Finally, AEW Capital Management L P raised its position in Store Capital Corp. by 22.4% in the first quarter. AEW Capital Management L P now owns 2,669,859 shares of the company’s stock worth $69,096,000 after buying an additional 488,400 shares in the last quarter.
Shares of Store Capital Corp. (NYSE:STOR) traded up 0.20% during midday trading on Monday, hitting $30.36. The stock had a trading volume of 254,040 shares. The stock has a 50 day moving average price of $29.61 and a 200-day moving average price of $27.65. Store Capital Corp. has a 52 week low of $20.36 and a 52 week high of $31.44. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of 40.59 and a beta of 0.34.
Store Capital Corp. (NYSE:STOR) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.02. Store Capital Corp. had a return on equity of 4.97% and a net margin of 31.21%. The business had revenue of $92 million for the quarter, compared to analyst estimates of $86.58 million. During the same period last year, the company earned $0.36 EPS. The firm’s revenue was up 33.5% on a year-over-year basis. Equities research analysts anticipate that Store Capital Corp. will post $1.56 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a $0.29 dividend. This is a positive change from Store Capital Corp.’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Wednesday, September 28th. Store Capital Corp.’s dividend payout ratio (DPR) is currently 144.00%.
A number of research analysts recently issued reports on STOR shares. Stifel Nicolaus boosted their price objective on Store Capital Corp. from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, June 23rd. KeyCorp upgraded Store Capital Corp. from a “sector weight” rating to an “overweight” rating and set a $35.00 price target for the company in a research report on Thursday, July 14th. Zacks Investment Research upgraded Store Capital Corp. from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Wednesday, July 27th. BTIG Research initiated coverage on Store Capital Corp. in a research report on Thursday, August 25th. They set a “buy” rating and a $35.00 price target for the company. Finally, Credit Suisse Group AG reiterated a “sell” rating and set a $30.00 price target on shares of Store Capital Corp. in a research report on Monday, August 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. Store Capital Corp. currently has an average rating of “Buy” and a consensus target price of $30.00.
About Store Capital Corp.
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. The Company’s portfolio includes investments in approximately 1,330 property locations operated by over 300 customers across approximately 50 states.
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