SouthState Corp grew its position in STORE Capital Co. (NYSE:STOR – Get Rating) by 676.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 3,338 shares of the real estate investment trust’s stock after purchasing an additional 2,908 shares during the period. SouthState Corp’s holdings in STORE Capital were worth $98,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in STOR. Goldman Sachs Group Inc. grew its position in STORE Capital by 88.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,598,614 shares of the real estate investment trust’s stock worth $54,992,000 after buying an additional 751,958 shares in the last quarter. State Street Corp grew its position in STORE Capital by 6.7% during the fourth quarter. State Street Corp now owns 11,766,566 shares of the real estate investment trust’s stock worth $409,261,000 after buying an additional 741,979 shares in the last quarter. Hamlin Capital Management LLC boosted its holdings in shares of STORE Capital by 23.2% in the 1st quarter. Hamlin Capital Management LLC now owns 3,763,368 shares of the real estate investment trust’s stock valued at $110,003,000 after purchasing an additional 707,797 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of STORE Capital by 5.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,835,763 shares of the real estate investment trust’s stock valued at $235,151,000 after purchasing an additional 359,570 shares in the last quarter. Finally, Nordea Investment Management AB acquired a new stake in shares of STORE Capital in the 1st quarter valued at $9,011,000. Institutional investors and hedge funds own 86.02% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on STOR shares. Truist Financial reduced their target price on STORE Capital from $32.00 to $31.00 in a report on Friday, June 3rd. Jefferies Financial Group reduced their target price on STORE Capital from $29.00 to $27.00 and set a “hold” rating on the stock in a report on Thursday, June 30th. Morgan Stanley downgraded STORE Capital from an “equal weight” rating to an “underweight” rating and set a $25.00 target price on the stock. in a report on Tuesday, July 12th. Finally, Evercore ISI set a $32.00 target price on STORE Capital in a report on Monday, June 20th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $29.50.
STORE Capital Stock Down 0.1 %
STORE Capital (NYSE:STOR – Get Rating) last announced its earnings results on Wednesday, May 4th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.06. The business had revenue of $222.12 million during the quarter, compared to analyst estimates of $212.11 million. STORE Capital had a return on equity of 6.18% and a net margin of 38.45%. STORE Capital’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period last year, the company earned $0.47 EPS. As a group, sell-side analysts anticipate that STORE Capital Co. will post 2.18 earnings per share for the current fiscal year.
STORE Capital Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a yield of 5.52%. The ex-dividend date of this dividend was Wednesday, June 29th. STORE Capital’s dividend payout ratio is currently 128.33%.
STORE Capital Company Profile
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 more than 2,500 property locations across the United States, substantially all of which are profit centers.
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