Store Capital Corp (NYSE:STOR) announced a quarterly dividend on Monday, June 17th, NASDAQ reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.33 per share by the real estate investment trust on Monday, July 15th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Thursday, June 27th.
Store Capital has raised its dividend payment by an average of 12.5% per year over the last three years and has increased its dividend every year for the last 3 years. Store Capital has a dividend payout ratio of 75.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Store Capital to earn $2.01 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 65.7%.
NYSE:STOR traded down $0.64 during trading hours on Wednesday, hitting $33.63. 226,307 shares of the company’s stock traded hands, compared to its average volume of 1,538,294. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 3.68 and a beta of 0.26. Store Capital has a twelve month low of $26.64 and a twelve month high of $35.59. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a fifty day moving average price of $34.39.
Store Capital (NYSE:STOR) last released its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.26). Store Capital had a return on equity of 5.83% and a net margin of 37.19%. The company had revenue of $156.60 million for the quarter, compared to the consensus estimate of $152.22 million. During the same quarter last year, the company posted $0.44 EPS. The business’s revenue was up 24.5% compared to the same quarter last year. As a group, research analysts predict that Store Capital will post 1.89 EPS for the current year.
Several analysts recently weighed in on the company. Zacks Investment Research downgraded Store Capital from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Raymond James increased their target price on Store Capital from $34.00 to $36.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Berenberg Bank initiated coverage on Store Capital in a report on Tuesday, April 23rd. They issued a “buy” rating and a $36.00 price target for the company. Finally, BTIG Research upped their price target on Store Capital to $37.00 and gave the company a “buy” rating in a report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Store Capital currently has a consensus rating of “Buy” and a consensus price target of $33.50.
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 2,255 property locations, substantially all of which are profit centers, in 49 states.
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