Advisor Group Inc. lowered its stake in shares of STORE Capital (NYSE:STOR) by 72.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,057 shares of the real estate investment trust’s stock after selling 10,583 shares during the period. Advisor Group Inc.’s holdings in STORE Capital were worth $106,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its stake in shares of STORE Capital by 8.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,356 shares of the real estate investment trust’s stock valued at $120,000 after buying an additional 409 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of STORE Capital during the 4th quarter valued at about $201,000. Renaissance Technologies LLC purchased a new position in shares of STORE Capital during the 4th quarter valued at about $211,000. Prudential Financial Inc. purchased a new position in shares of STORE Capital during the 3rd quarter valued at about $216,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in shares of STORE Capital by 61.8% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,840 shares of the real estate investment trust’s stock valued at $220,000 after purchasing an additional 3,378 shares in the last quarter. Institutional investors and hedge funds own 94.29% of the company’s stock.
STOR has been the subject of several recent analyst reports. ValuEngine upgraded STORE Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. SunTrust Banks restated a “buy” rating and issued a $26.00 price target on shares of STORE Capital in a research note on Monday, January 22nd. B. Riley set a $26.00 price target on STORE Capital and gave the company a “hold” rating in a research note on Friday, February 23rd. Robert W. Baird restated a “buy” rating on shares of STORE Capital in a research note on Tuesday, February 27th. Finally, Zacks Investment Research upgraded STORE Capital from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $26.91.
In related news, insider Christopher H. Volk bought 4,250 shares of the stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average cost of $23.64 per share, for a total transaction of $100,470.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Catherine F. Long bought 4,225 shares of the stock in a transaction dated Tuesday, February 27th. The shares were bought at an average price of $23.70 per share, for a total transaction of $100,132.50. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 12,475 shares of company stock valued at $295,603. 0.90% of the stock is owned by company insiders.
NYSE:STOR opened at $25.16 on Wednesday. STORE Capital has a 12 month low of $19.65 and a 12 month high of $26.58. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.64. The company has a market cap of $4,818.25, a price-to-earnings ratio of 14.59, a PEG ratio of 2.83 and a beta of 0.12.
STORE Capital (NYSE:STOR) last posted its quarterly earnings data on Thursday, February 22nd. The real estate investment trust reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. STORE Capital had a return on equity of 5.35% and a net margin of 36.27%. The company had revenue of $120.10 million during the quarter, compared to analyst estimates of $114.90 million. During the same period in the previous year, the business earned $0.40 EPS. STORE Capital’s quarterly revenue was up 17.6% on a year-over-year basis. equities research analysts forecast that STORE Capital will post 1.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 16th. Shareholders of record on Friday, March 30th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, March 28th. This represents a $1.24 annualized dividend and a yield of 4.93%. STORE Capital’s dividend payout ratio (DPR) is currently 72.51%.
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STORE Capital 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 1,921 property locations, substantially all of which are profit centers, in 48 states.
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