Millennium Management LLC Has $26.67 Million Holdings in Store Capital Corp (STOR)
Millennium Management LLC raised its stake in Store Capital Corp (NYSE:STOR) by 576.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 973,228 shares of the real estate investment trust’s stock after acquiring an additional 829,409 shares during the quarter. Millennium Management LLC owned approximately 0.47% of Store Capital worth $26,666,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of STOR. Wells Fargo & Company MN lifted its holdings in shares of Store Capital by 145.0% in the first quarter. Wells Fargo & Company MN now owns 1,626,158 shares of the real estate investment trust’s stock worth $40,361,000 after acquiring an additional 962,442 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of Store Capital by 662.1% in the first quarter. Prudential Financial Inc. now owns 66,300 shares of the real estate investment trust’s stock worth $1,646,000 after acquiring an additional 57,600 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Store Capital by 10.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 945,430 shares of the real estate investment trust’s stock valued at $23,466,000 after buying an additional 88,546 shares during the last quarter. Neuberger Berman Group LLC bought a new position in Store Capital in the 1st quarter valued at approximately $349,000. Finally, Envestnet Asset Management Inc. raised its holdings in Store Capital by 1,394.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 61,198 shares of the real estate investment trust’s stock valued at $1,522,000 after buying an additional 57,102 shares during the last quarter. 93.86% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE STOR opened at $27.85 on Wednesday. The company has a market capitalization of $5.76 billion, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 3.21 and a beta of 0.14. Store Capital Corp has a 1 year low of $22.51 and a 1 year high of $29.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be issued a dividend of $0.33 per share. This is a positive change from Store Capital’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.32 annualized dividend and a yield of 4.74%. Store Capital’s dividend payout ratio (DPR) is presently 72.51%.
STOR has been the subject of a number of research reports. ValuEngine lowered shares of Store Capital from a “buy” rating to a “hold” rating in a report on Wednesday, June 13th. Janney Montgomery Scott lowered shares of Store Capital from a “buy” rating to a “neutral” rating in a report on Friday, July 13th. Stifel Nicolaus reiterated a “buy” rating and issued a $29.00 price objective on shares of Store Capital in a report on Sunday, July 15th. Zacks Investment Research upgraded shares of Store Capital from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Wednesday, July 25th. 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 assigned a buy rating to the company’s stock. Store Capital presently has a consensus rating of “Hold” and a consensus target price of $28.71.
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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