STORE Capital (NYSE:STOR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $29.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.64% from the stock’s previous close.
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 subject of several other research reports. Robert W. Baird reaffirmed a “buy” rating on shares of STORE Capital in a report on Tuesday, February 27th. Capital One reaffirmed an “overweight” rating on shares of STORE Capital in a report on Wednesday, March 14th. Wells Fargo cut their price target on STORE Capital from $27.00 to $26.00 and set a “market perform” rating for the company in a report on Tuesday, March 20th. ValuEngine raised STORE Capital from a “hold” rating to a “buy” rating in a report on Tuesday, January 16th. Finally, SunTrust Banks set a $27.00 target price on STORE Capital and gave the stock a “buy” rating in a report on Tuesday, April 3rd. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. STORE Capital presently has a consensus rating of “Buy” and an average target price of $27.11.
STORE Capital stock opened at $25.52 on Wednesday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $5.11 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 2.94 and a beta of 0.11. STORE Capital has a 12 month low of $25.39 and a 12 month high of $25.69.
STORE Capital (NYSE:STOR) last posted its quarterly earnings results on Thursday, May 3rd. The real estate investment trust reported $0.26 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.17). The firm had revenue of $125.80 million during the quarter, compared to analyst estimates of $124.83 million. STORE Capital had a net margin of 38.37% and a return on equity of 5.71%. The company’s revenue was up 16.5% on a year-over-year basis. During the same period last year, the company earned $0.43 EPS. analysts expect that STORE Capital will post 1.76 earnings per share for the current fiscal year.
In other STORE Capital news, insider Christopher H. Volk purchased 4,250 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average cost of $23.64 per share, with a total value of $100,470.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joseph M. Donovan purchased 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were acquired at an average cost of $23.75 per share, with a total value of $95,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 12,475 shares of company stock valued at $295,603. 0.85% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in STOR. Bank of Montreal Can increased its holdings in STORE Capital by 305.0% during the 4th quarter. Bank of Montreal Can now owns 38,387 shares of the real estate investment trust’s stock valued at $999,000 after purchasing an additional 28,908 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in STORE Capital by 9.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 856,884 shares of the real estate investment trust’s stock valued at $22,314,000 after purchasing an additional 73,353 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in STORE Capital by 104.2% during the 4th quarter. State of Alaska Department of Revenue now owns 103,670 shares of the real estate investment trust’s stock valued at $2,698,000 after purchasing an additional 52,890 shares in the last quarter. Laurel Grove Capital LLC acquired a new stake in STORE Capital during the 4th quarter valued at $385,000. Finally, Strs Ohio increased its holdings in STORE Capital by 3.4% during the 4th quarter. Strs Ohio now owns 222,019 shares of the real estate investment trust’s stock valued at $5,781,000 after purchasing an additional 7,400 shares in the last quarter. 95.54% of the stock is owned by hedge funds and other institutional investors.
About STORE Capital
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 2,000 property locations, substantially all of which are profit centers, in 49 states.
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