STORE Capital Corporation (STOR) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of STORE Capital Corporation (NYSE:STOR) from a buy rating to a hold rating in a research report released on Wednesday.
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 analysts have also recently weighed in on STOR. Ladenburg Thalmann Financial Services reaffirmed a hold rating on shares of STORE Capital Corporation in a research report on Wednesday, August 16th. BidaskClub cut STORE Capital Corporation from a hold rating to a sell rating in a research report on Sunday, October 29th. Stifel Nicolaus reaffirmed a buy rating and set a $25.50 price objective on shares of STORE Capital Corporation in a research report on Friday, July 14th. TheStreet raised STORE Capital Corporation from a c rating to a b- rating in a research report on Thursday, August 3rd. Finally, FBR & Co began coverage on STORE Capital Corporation in a research report on Monday, July 17th. They set a market perform rating and a $24.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. STORE Capital Corporation has a consensus rating of Buy and an average price target of $27.09.
STORE Capital Corporation (STOR) traded up $0.30 during trading on Wednesday, reaching $25.53. The company’s stock had a trading volume of 2,304,899 shares, compared to its average volume of 1,597,689. STORE Capital Corporation has a 52 week low of $19.65 and a 52 week high of $27.00. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.62. The firm has a market cap of $4,851.13, a PE ratio of 15.02, a price-to-earnings-growth ratio of 3.13 and a beta of 0.22.
STORE Capital Corporation (NYSE:STOR) last posted its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). STORE Capital Corporation had a return on equity of 5.50% and a net margin of 35.67%. The company had revenue of $114.21 million for the quarter, compared to analyst estimates of $112.27 million. During the same period in the previous year, the business posted $0.38 earnings per share. The firm’s revenue was up 24.2% compared to the same quarter last year. equities analysts predict that STORE Capital Corporation will post 1.63 EPS for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.86%. This is an increase from STORE Capital Corporation’s previous quarterly dividend of $0.29. The ex-dividend date was Thursday, September 28th. STORE Capital Corporation’s dividend payout ratio is 139.33%.
In other STORE Capital Corporation news, Director William Franklin Hipp bought 4,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was acquired at an average cost of $25.18 per share, with a total value of $100,720.00. Following the purchase, the director now owns 18,499 shares in the company, valued at approximately $465,804.82. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Berkshire Hathaway Inc. purchased a new position in STORE Capital Corporation in the 2nd quarter valued at approximately $418,057,000. American Century Companies Inc. increased its stake in STORE Capital Corporation by 34.1% in the 2nd quarter. American Century Companies Inc. now owns 737,678 shares of the real estate investment trust’s stock valued at $16,561,000 after purchasing an additional 187,680 shares in the last quarter. Dubuque Bank & Trust Co. purchased a new position in STORE Capital Corporation in the 2nd quarter valued at approximately $1,957,000. Goldman Sachs Group Inc. increased its stake in STORE Capital Corporation by 111.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,379,729 shares of the real estate investment trust’s stock valued at $30,974,000 after purchasing an additional 726,377 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in STORE Capital Corporation by 22.0% in the 2nd quarter. Principal Financial Group Inc. now owns 12,138,830 shares of the real estate investment trust’s stock valued at $272,516,000 after purchasing an additional 2,189,912 shares in the last quarter.
STORE Capital Corporation Company Profile
STORE Capital Corporation is an internally managed net-lease real estate investment trust. The Company is engaged in the acquisition, investment and management of single tenant operational real estate (STORE) properties. As of December 31, 2016, the Company owned a portfolio that consisted of investments in 1,660 property locations operated by 360 customers across 48 states.
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