Store Capital Corp. (NYSE:STOR) announced a quarterly dividend on Tuesday, September 6th. Stockholders of record on Friday, September 30th will be paid a dividend of 0.29 per share on Monday, October 17th. This represents a $1.16 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend is Wednesday, September 28th. This is a positive change from Store Capital Corp.’s previous quarterly dividend of $0.27.
Shares of Store Capital Corp. (NYSE:STOR) opened at 30.43 on Tuesday. The stock has a 50 day moving average price of $29.63 and a 200 day moving average price of $27.74. Store Capital Corp. has a one year low of $20.36 and a one year high of $31.44. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 40.68 and a beta of 0.34.
Store Capital Corp. (NYSE:STOR) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.40 EPS for the quarter, topping the Zacks’ 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 company earned $92 million during the quarter, compared to the consensus estimate of $86.58 million. During the same quarter last year, the company earned $0.36 EPS. The company’s quarterly revenue was up 33.5% on a year-over-year basis. On average, equities research analysts forecast that Store Capital Corp. will post $1.56 EPS for the current year.
STOR has been the subject of a number of research reports. Credit Suisse Group AG reiterated a “sell” rating and issued a $30.00 price objective on shares of Store Capital Corp. in a research report on Monday, August 29th. KeyCorp upgraded Store Capital Corp. from a “sector weight” rating to an “overweight” rating and set a $35.00 target price for the company in a research report on Thursday, July 14th. Zacks Investment Research downgraded Store Capital Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, August 18th. Stifel Nicolaus raised their target price on Store Capital Corp. from $29.00 to $31.50 and gave the stock a “buy” rating in a research report on Monday, July 11th. Finally, BTIG Research started coverage on Store Capital Corp. in a research report on Thursday, August 25th. They set a “buy” rating and a $35.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $30.00.
Several large investors have recently added to or reduced their stakes in STOR. FMR LLC boosted its stake in Store Capital Corp. by 7.6% in the second quarter. FMR LLC now owns 22,738,070 shares of the company’s stock valued at $669,636,000 after buying an additional 1,606,162 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Store Capital Corp. by 187.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,951,408 shares of the company’s stock valued at $175,268,000 after buying an additional 3,880,614 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Store Capital Corp. by 71.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,866,019 shares of the company’s stock valued at $143,304,000 after buying an additional 2,027,383 shares during the period. Cbre Clarion Securities LLC purchased a new stake in Store Capital Corp. during the second quarter valued at approximately $68,468,000. Finally, American Century Companies Inc. boosted its stake in Store Capital Corp. by 22.5% in the second quarter. American Century Companies Inc. now owns 1,835,007 shares of the company’s stock valued at $54,041,000 after buying an additional 337,272 shares during the period.
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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