Zacks Investment Research Upgrades STORE Capital Corporation (STOR) to “Hold”
Zacks Investment Research upgraded shares of STORE Capital Corporation (NYSE:STOR) from a strong sell rating to a hold rating in a report published on Tuesday.
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. “
STOR has been the topic of a number of other reports. Ladenburg Thalmann Financial Services reaffirmed a hold rating on shares of STORE Capital Corporation in a research note on Tuesday, June 27th. Capital One Financial Corporation reaffirmed a buy rating and issued a $30.00 price target on shares of STORE Capital Corporation in a research note on Friday, June 30th. Mizuho downgraded shares of STORE Capital Corporation from a buy rating to a neutral rating and upped their price target for the stock from $23.00 to $24.00 in a research note on Tuesday, June 27th. BidaskClub raised shares of STORE Capital Corporation from a strong sell rating to a sell rating in a research note on Tuesday, June 27th. Finally, Stifel Nicolaus dropped their price target on shares of STORE Capital Corporation from $27.50 to $25.50 and set a buy rating on the stock in a research note on Friday, May 5th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. STORE Capital Corporation currently has a consensus rating of Buy and a consensus target price of $27.59.
Shares of STORE Capital Corporation (NYSE:STOR) opened at 25.56 on Tuesday. STORE Capital Corporation has a 52-week low of $19.65 and a 52-week high of $30.65. The stock has a market cap of $4.85 billion, a P/E ratio of 25.77 and a beta of 0.23. The firm’s 50-day moving average price is $24.12 and its 200-day moving average price is $23.06.
STORE Capital Corporation (NYSE:STOR) last posted its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.07. STORE Capital Corporation had a return on equity of 5.98% and a net margin of 38.71%. The company had revenue of $114.21 million during the quarter, compared to analyst estimates of $112.27 million. During the same period last year, the company posted $0.38 earnings per share. The company’s revenue was up 24.2% compared to the same quarter last year. On average, equities research analysts forecast that STORE Capital Corporation will post $0.87 earnings per share for the current fiscal year.
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In other STORE Capital Corporation news, Director William Franklin Hipp bought 4,000 shares of the stock in a transaction on Thursday, August 17th. The shares were purchased at an average cost of $25.18 per share, with a total value of $100,720.00. Following the completion of the transaction, the director now directly owns 18,499 shares of the company’s stock, valued at approximately $465,804.82. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Berkshire Hathaway Inc. purchased a new stake in STORE Capital Corporation during the second quarter worth about $418,057,000. BlackRock Inc. boosted its stake in STORE Capital Corporation by 3,974.5% in the first quarter. BlackRock Inc. now owns 10,152,844 shares of the real estate investment trust’s stock worth $242,450,000 after buying an additional 9,903,666 shares during the period. CI Global Investments Inc. boosted its stake in STORE Capital Corporation by 154.8% in the second quarter. CI Global Investments Inc. now owns 12,744,954 shares of the real estate investment trust’s stock worth $286,124,000 after buying an additional 7,743,682 shares during the period. Cbre Clarion Securities LLC boosted its stake in STORE Capital Corporation by 272.6% in the second quarter. Cbre Clarion Securities LLC now owns 4,890,472 shares of the real estate investment trust’s stock worth $109,791,000 after buying an additional 3,577,846 shares during the period. Finally, Wellington Management Group LLP boosted its stake in STORE Capital Corporation by 99.5% in the first quarter. Wellington Management Group LLP now owns 5,867,685 shares of the real estate investment trust’s stock worth $140,121,000 after buying an additional 2,926,539 shares during the period.
About STORE Capital Corporation
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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