Zacks Investment Research Downgrades STORE Capital (STOR) to Hold

STORE Capital (NYSE:STOR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

According to Zacks, “STORE Capital Corporation is an internally managed net-lease real estate investment trust. It is engaged in the acquisition, investment and management of Single Tenant Operational Real Estate (STORE properties). The Company provides net-lease solutions principally to middle-market and larger companies that own STORE Properties. It invests in single-tenant real estate such as chain restaurants, supermarkets, health clubs, and education, retail, service, and distribution facilities. STORE Capital Corporation is based in Scottsdale, Arizona. “

A number of other equities analysts have also weighed in on the company. Capital One restated an “overweight” rating on shares of STORE Capital in a research note on Wednesday, March 14th. Wells Fargo decreased their target price on STORE Capital from $27.00 to $26.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 20th. SunTrust Banks restated a “buy” rating and issued a $26.00 target price on shares of STORE Capital in a research note on Monday, January 22nd. ValuEngine lowered STORE Capital from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Robert W. Baird restated a “buy” rating on shares of STORE Capital in a research note on Tuesday, February 27th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $27.11.

NYSE:STOR opened at $25.53 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.34 and a current ratio of 0.34. STORE Capital has a 52-week low of $25.59 and a 52-week high of $25.89. The firm has a market cap of $5.06 billion, a P/E ratio of 14.93, a P/E/G ratio of 2.91 and a beta of 0.11.

STORE Capital (NYSE:STOR) last released its quarterly earnings data on Thursday, May 3rd. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.17). The company had revenue of $125.80 million for the quarter, compared to the consensus estimate of $124.83 million. STORE Capital had a net margin of 38.37% and a return on equity of 5.71%. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.43 earnings per share. research analysts forecast that STORE Capital will post 1.76 earnings per share for the current year.

In other news, insider Christopher H. Volk acquired 4,250 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $23.64 per share, for a total transaction of $100,470.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph M. Donovan acquired 4,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was purchased at an average price of $23.75 per share, with a total value of $95,000.00. The disclosure for this purchase can be found here. Insiders bought a total of 12,475 shares of company stock valued at $295,603 over the last quarter. Company insiders own 0.85% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its holdings in STORE Capital by 39.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,871,769 shares of the real estate investment trust’s stock valued at $245,017,000 after acquiring an additional 2,798,061 shares during the period. Anchor Capital Advisors LLC purchased a new stake in STORE Capital during the 1st quarter valued at about $42,930,000. Centersquare Investment Management LLC purchased a new stake in STORE Capital during the 1st quarter valued at about $40,096,000. Deutsche Bank AG boosted its holdings in STORE Capital by 33.9% during the 4th quarter. Deutsche Bank AG now owns 5,628,303 shares of the real estate investment trust’s stock valued at $146,557,000 after acquiring an additional 1,425,053 shares during the period. Finally, Artisan Partners Limited Partnership boosted its holdings in STORE Capital by 316.6% during the 1st quarter. Artisan Partners Limited Partnership now owns 1,665,134 shares of the real estate investment trust’s stock valued at $41,329,000 after acquiring an additional 1,265,423 shares during the period. Hedge funds and other institutional investors own 95.54% of the company’s stock.

About STORE Capital

STORE Capital Corporation is an internally managed net-lease real estate investment trust, or REIT, that is the leader in the acquisition, investment and management of Single Tenant Operational Real Estate, which is its target market and the inspiration for its name. STORE Capital is one of the largest and fastest growing net-lease REITs and owns a large, well-diversified portfolio that consists of investments in 2,000 property locations, substantially all of which are profit centers, in 49 states.

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Analyst Recommendations for STORE Capital (NYSE:STOR)

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