Store Capital Corp (NYSE:STOR) was upgraded by research analysts at Goldman Sachs Group Inc from a “buy” rating to a “conviction-buy” rating in a note issued to investors on Thursday.
A number of other research firms have also recently weighed in on STOR. Ladenburg Thalmann Financial Services restated a “buy” rating and issued a $28.00 price target on shares of Store Capital Corp in a research note on Tuesday, March 28th. KeyCorp cut Store Capital Corp to an “overweight” rating in a research note on Wednesday, December 21st. Zacks Investment Research cut Store Capital Corp from a “hold” rating to a “sell” rating in a research note on Wednesday, February 1st. Mizuho restated a “buy” rating on shares of Store Capital Corp in a research note on Friday, December 23rd. Finally, BMO Capital Markets set a $28.00 price target on Store Capital Corp and gave the company a “buy” rating in a research note on Thursday, January 12th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $31.06.
Shares of Store Capital Corp (NYSE:STOR) traded down 0.020% during midday trading on Thursday, reaching $25.085. The company’s stock had a trading volume of 466,189 shares. Store Capital Corp has a one year low of $22.27 and a one year high of $31.44. The stock’s 50-day moving average is $23.95 and its 200-day moving average is $25.01. The company has a market capitalization of $3.99 billion, a P/E ratio of 30.591 and a beta of 0.23.
Store Capital Corp (NYSE:STOR) last posted its quarterly earnings results on Thursday, February 23rd. The real estate investment trust reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.01. Store Capital Corp had a return on equity of 5.22% and a net margin of 33.05%. The company had revenue of $102.10 million for the quarter, compared to analysts’ expectations of $95.22 million. During the same period last year, the firm earned $0.38 earnings per share. Store Capital Corp’s quarterly revenue was up 28.3% on a year-over-year basis. On average, equities analysts expect that Store Capital Corp will post $0.81 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Friday, March 31st were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.62%. The ex-dividend date was Wednesday, March 29th. Store Capital Corp’s payout ratio is 143.21%.
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In related news, CFO Catherine F. Long purchased 5,550 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average price of $22.52 per share, with a total value of $124,986.00. Following the completion of the acquisition, the chief financial officer now directly owns 145,087 shares in the company, valued at approximately $3,267,359.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Christopher H. Volk purchased 11,100 shares of the stock in a transaction that occurred on Friday, March 10th. The shares were bought at an average cost of $22.75 per share, for a total transaction of $252,525.00. Following the acquisition, the insider now owns 246,373 shares of the company’s stock, valued at $5,604,985.75. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 30,590 shares of company stock worth $693,768. Corporate insiders own 1.05% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in Store Capital Corp by 9.9% in the fourth quarter. State Street Corp now owns 2,113,735 shares of the real estate investment trust’s stock worth $52,233,000 after buying an additional 190,645 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in Store Capital Corp by 2.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 107,825 shares of the real estate investment trust’s stock worth $2,664,000 after buying an additional 2,089 shares in the last quarter. BlackRock Fund Advisors raised its position in Store Capital Corp by 58.3% in the third quarter. BlackRock Fund Advisors now owns 2,363,183 shares of the real estate investment trust’s stock worth $69,643,000 after buying an additional 870,782 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Store Capital Corp by 95.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,544,303 shares of the real estate investment trust’s stock worth $38,158,000 after buying an additional 755,643 shares in the last quarter. Finally, FMR LLC raised its position in Store Capital Corp by 4.6% in the fourth quarter. FMR LLC now owns 22,128,501 shares of the real estate investment trust’s stock worth $546,796,000 after buying an additional 972,062 shares in the last quarter.
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. 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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