Centaurus Financial Inc. Takes Position in Store Capital Corp (STOR)
Centaurus Financial Inc. bought a new position in Store Capital Corp (NYSE:STOR) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 5,500 shares of the real estate investment trust’s stock, valued at approximately $151,000.
Several other institutional investors have also bought and sold shares of the company. Marshall Wace LLP bought a new stake in shares of Store Capital in the 2nd quarter worth about $639,000. Paloma Partners Management Co bought a new position in Store Capital during the 2nd quarter valued at about $543,000. Macquarie Group Ltd. grew its holdings in Store Capital by 25.5% during the 2nd quarter. Macquarie Group Ltd. now owns 819,954 shares of the real estate investment trust’s stock valued at $22,467,000 after purchasing an additional 166,565 shares during the last quarter. Bank of America Corp DE grew its holdings in Store Capital by 5.5% during the 2nd quarter. Bank of America Corp DE now owns 1,107,178 shares of the real estate investment trust’s stock valued at $30,337,000 after purchasing an additional 58,191 shares during the last quarter. Finally, Capital Fund Management S.A. bought a new position in Store Capital during the 2nd quarter valued at about $2,117,000. Hedge funds and other institutional investors own 93.86% of the company’s stock.
Several equities analysts recently commented on STOR shares. Zacks Investment Research downgraded shares of Store Capital from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Mizuho set a $30.00 price target on shares of Store Capital and gave the company a “buy” rating in a report on Monday, August 13th. Stifel Nicolaus reiterated a “buy” rating and set a $29.00 price target on shares of Store Capital in a report on Sunday, July 15th. BMO Capital Markets started coverage on shares of Store Capital in a report on Tuesday, September 18th. They set a “buy” rating and a $32.00 price target on the stock. Finally, LADENBURG THALM/SH SH reiterated a “hold” rating on shares of Store Capital in a report on Friday, August 3rd. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $28.71.
Store Capital (NYSE:STOR) last released its quarterly earnings data on Thursday, August 2nd. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.13). The business had revenue of $131.20 million during the quarter, compared to analyst estimates of $132.13 million. Store Capital had a return on equity of 5.60% and a net margin of 37.26%. The firm’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.42 EPS. equities analysts forecast that Store Capital Corp will post 1.75 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be paid a $0.33 dividend. The ex-dividend date is Thursday, September 27th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.71%. This is a positive change from Store Capital’s previous quarterly dividend of $0.31. Store Capital’s dividend payout ratio is presently 72.51%.
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 2,084 property locations, substantially all of which are profit centers, in 49 states.
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