Vanguard Group Inc. raised its position in Store Capital Corp. (NYSE:STOR) by 12.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,596,837 shares of the company’s stock after buying an additional 2,478,968 shares during the period. Vanguard Group Inc. owned 15.49% of Store Capital Corp. worth $665,477,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. increased its position in Store Capital Corp. by 203.1% in the second quarter. JPMorgan Chase & Co. now owns 8,959,166 shares of the company’s stock valued at $263,847,000 after buying an additional 6,003,531 shares in the last quarter. Bank of New York Mellon Corp increased its position in Store Capital Corp. by 9.7% in the second quarter. Bank of New York Mellon Corp now owns 7,382,432 shares of the company’s stock valued at $217,412,000 after buying an additional 653,686 shares in the last quarter. Principal Financial Group Inc. increased its position in Store Capital Corp. by 32.1% in the second quarter. Principal Financial Group Inc. now owns 6,842,526 shares of the company’s stock valued at $201,512,000 after buying an additional 1,662,581 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Store Capital Corp. by 2.5% in the second quarter. Daiwa Securities Group Inc. now owns 5,235,274 shares of the company’s stock valued at $154,179,000 after buying an additional 129,535 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in Store Capital Corp. during the first quarter valued at $87,695,000.
Shares of Store Capital Corp. (NYSE:STOR) traded down 0.37% during midday trading on Thursday, reaching $29.69. The company’s stock had a trading volume of 164,003 shares. Store Capital Corp. has a 1-year low of $20.36 and a 1-year high of $31.44. The company’s 50-day moving average price is $29.64 and its 200 day moving average price is $27.79. The firm has a market capitalization of $4.54 billion, a PE ratio of 39.69 and a beta of 0.34.
Store Capital Corp. (NYSE:STOR) last posted its earnings results on Thursday, August 4th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 earned $92 million during the quarter, compared to analyst estimates of $86.58 million. During the same quarter last year, the firm earned $0.36 earnings per share. The company’s revenue for the quarter was up 33.5% compared to the same quarter last year. On average, equities research analysts forecast that Store Capital Corp. will post $1.56 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a $0.29 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.89%. This is a positive change from Store Capital Corp.’s previous quarterly dividend of $0.27. Store Capital Corp.’s dividend payout ratio (DPR) is 144.00%.
STOR has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price objective on Store Capital Corp. from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, June 23rd. 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 objective for the company. Zacks Investment Research downgraded Store Capital Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, August 18th. KeyCorp raised Store Capital Corp. from a “sector weight” rating to an “overweight” rating and set a $35.00 price objective for the company in a research report on Thursday, July 14th. Finally, Credit Suisse Group AG restated a “sell” rating and set a $30.00 target price on shares of Store Capital Corp. in a research note on Monday, August 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $30.00.
Store Capital Corp. 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. 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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