Analysts forecast that Store Capital Corp (NYSE:STOR) will report $127.91 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Store Capital’s earnings. The highest sales estimate is $129.30 million and the lowest is $124.97 million. Store Capital posted sales of $104.04 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 22.9%. The business is expected to report its next quarterly earnings report on Thursday, November 1st.
According to Zacks, analysts expect that Store Capital will report full year sales of $503.06 million for the current financial year, with estimates ranging from $494.82 million to $507.30 million. For the next year, analysts anticipate that the firm will post sales of $558.27 million, with estimates ranging from $507.82 million to $584.37 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Store Capital.
Store Capital (NYSE:STOR) last posted its quarterly earnings data on Thursday, August 2nd. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.13). Store Capital had a return on equity of 5.60% and a net margin of 37.26%. The firm had revenue of $131.20 million during the quarter, compared to analysts’ expectations of $132.13 million. During the same period last year, the company earned $0.42 earnings per share. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year.
A number of analysts recently weighed in on STOR shares. Morgan Stanley raised shares of Store Capital from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective on the stock in a research report on Monday, October 1st. Zacks Investment Research lowered shares of Store Capital from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. BMO Capital Markets started coverage on shares of Store Capital in a research report on Tuesday, September 18th. They issued a “buy” rating and a $32.00 price objective on the stock. Mizuho set a $30.00 price objective on shares of Store Capital and gave the stock a “buy” rating in a research report on Monday, August 13th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $29.00 price objective on shares of Store Capital in a research report on Sunday, July 15th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $29.00.
Store Capital stock traded up $0.19 during midday trading on Tuesday, reaching $27.60. The stock had a trading volume of 1,413,438 shares, compared to its average volume of 1,549,489. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. Store Capital has a 52-week low of $22.51 and a 52-week high of $29.52. The firm has a market capitalization of $5.71 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 3.18 and a beta of 0.15.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, September 27th. This is a positive change from Store Capital’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.78%. Store Capital’s dividend payout ratio (DPR) is 77.19%.
Several large investors have recently modified their holdings of STOR. Massachusetts Financial Services Co. MA increased its position in shares of Store Capital by 17.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 11,583,058 shares of the real estate investment trust’s stock worth $317,376,000 after acquiring an additional 1,711,289 shares during the period. Millennium Management LLC increased its position in shares of Store Capital by 576.7% during the second quarter. Millennium Management LLC now owns 973,228 shares of the real estate investment trust’s stock worth $26,666,000 after acquiring an additional 829,409 shares during the period. BlackRock Inc. increased its position in shares of Store Capital by 5.6% during the second quarter. BlackRock Inc. now owns 12,089,275 shares of the real estate investment trust’s stock worth $331,247,000 after acquiring an additional 642,883 shares during the period. Heitman Real Estate Securities LLC purchased a new position in shares of Store Capital during the first quarter worth approximately $14,842,000. Finally, Virginia Retirement Systems ET AL increased its position in shares of Store Capital by 75.8% during the second quarter. Virginia Retirement Systems ET AL now owns 1,235,600 shares of the real estate investment trust’s stock worth $33,855,000 after acquiring an additional 532,800 shares during the period. 93.86% of the stock is currently owned by institutional investors and hedge funds.
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 2,084 property locations, substantially all of which are profit centers, in 49 states.
Featured Article: Technical Analysis of Stocks and What It Means
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Store Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Store Capital and related companies with MarketBeat.com's FREE daily email newsletter.