Store Capital Corp (NYSE:STOR) Shares Bought by Vanguard Group Inc.
Vanguard Group Inc. boosted its stake in shares of Store Capital Corp (NYSE:STOR) by 5.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,124,884 shares of the real estate investment trust’s stock after buying an additional 1,512,668 shares during the period. Vanguard Group Inc. owned 0.13% of Store Capital worth $966,654,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STOR. Advisory Services Network LLC raised its position in Store Capital by 100.0% in the first quarter. Advisory Services Network LLC now owns 1,000 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 500 shares during the period. Financial Enhancement Group LLC grew its stake in Store Capital by 2.3% during the 2nd quarter. Financial Enhancement Group LLC now owns 320,066 shares of the real estate investment trust’s stock worth $10,623,000 after purchasing an additional 7,166 shares in the last quarter. AXA grew its stake in Store Capital by 3.1% during the 2nd quarter. AXA now owns 835,872 shares of the real estate investment trust’s stock worth $27,743,000 after purchasing an additional 25,176 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Store Capital by 1.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 72,819 shares of the real estate investment trust’s stock worth $2,417,000 after purchasing an additional 1,387 shares in the last quarter. Finally, AGF Investments LLC grew its stake in Store Capital by 21.8% during the 2nd quarter. AGF Investments LLC now owns 9,098 shares of the real estate investment trust’s stock worth $302,000 after purchasing an additional 1,630 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.
Several research analysts recently commented on the company. Morgan Stanley boosted their target price on Store Capital from $36.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 17th. Zacks Investment Research cut Store Capital from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. BMO Capital Markets reissued a “buy” rating and set a $35.00 target price on shares of Store Capital in a research note on Monday, August 5th. Raymond James set a $39.00 target price on Store Capital and gave the stock a “buy” rating in a research note on Monday, August 26th. Finally, Deutsche Bank assumed coverage on Store Capital in a research note on Tuesday, August 27th. They set a “buy” rating and a $40.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $37.38.
Shares of NYSE:STOR traded up $0.21 on Monday, hitting $37.79. 19,857 shares of the company’s stock were exchanged, compared to its average volume of 1,416,860. The firm’s 50-day moving average is $36.58 and its 200 day moving average is $34.39. The company has a market capitalization of $8.47 billion, a PE ratio of 20.52, a P/E/G ratio of 3.93 and a beta of 0.18. Store Capital Corp has a 1-year low of $26.93 and a 1-year high of $38.76. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.35 and a current ratio of 0.35.
Store Capital (NYSE:STOR) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.17). The business had revenue of $163.80 million for the quarter, compared to analyst estimates of $162.18 million. Store Capital had a return on equity of 5.73% and a net margin of 36.14%. The company’s revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 earnings per share. On average, analysts anticipate that Store Capital Corp will post 1.9 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.35 per share. This is a boost from Store Capital’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend is Friday, September 27th. Store Capital’s dividend payout ratio is currently 71.74%.
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 2,255 property locations, substantially all of which are profit centers, in 49 states.
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