Securian Asset Management Inc trimmed its position in Store Capital Corp (NYSE:STOR) by 0.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 603,295 shares of the real estate investment trust’s stock after selling 5,535 shares during the quarter. Securian Asset Management Inc owned 0.27% of Store Capital worth $20,023,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Duff & Phelps Investment Management Co. purchased a new position in Store Capital during the 2nd quarter valued at $46,688,000. Principal Financial Group Inc. increased its position in Store Capital by 6.7% during the 1st quarter. Principal Financial Group Inc. now owns 11,257,558 shares of the real estate investment trust’s stock valued at $377,128,000 after purchasing an additional 709,125 shares during the period. Geode Capital Management LLC increased its position in Store Capital by 26.2% during the 4th quarter. Geode Capital Management LLC now owns 1,935,183 shares of the real estate investment trust’s stock valued at $54,785,000 after purchasing an additional 401,416 shares during the period. Keybank National Association OH purchased a new position in Store Capital during the 2nd quarter valued at $9,996,000. Finally, BlackRock Inc. increased its position in Store Capital by 2.1% during the 1st quarter. BlackRock Inc. now owns 13,720,349 shares of the real estate investment trust’s stock valued at $459,631,000 after purchasing an additional 286,783 shares during the period. 89.34% of the stock is currently owned by institutional investors.
STOR has been the topic of a number of recent research reports. Berenberg Bank initiated coverage on shares of Store Capital in a research report on Tuesday, April 23rd. They issued a “buy” rating and a $36.00 target price on the stock. Morgan Stanley upped their target price on shares of Store Capital from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. ValuEngine downgraded shares of Store Capital from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Raymond James upped their target price on shares of Store Capital from $34.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Finally, Zacks Investment Research downgraded shares of Store Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Store Capital currently has a consensus rating of “Buy” and a consensus price target of $36.14.
Shares of NYSE:STOR traded up $0.02 during midday trading on Tuesday, reaching $36.64. The company’s stock had a trading volume of 33,492 shares, compared to its average volume of 1,481,877. The firm has a 50 day moving average of $34.68 and a 200-day moving average of $33.63. The firm has a market capitalization of $8.32 billion, a P/E ratio of 19.90, a PEG ratio of 3.85 and a beta of 0.21. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.52. Store Capital Corp has a 12-month low of $26.93 and a 12-month high of $36.74.
Store Capital (NYSE:STOR) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.17). The business had revenue of $163.80 million during the quarter, compared to analysts’ expectations of $162.18 million. Store Capital had a return on equity of 5.73% and a net margin of 36.14%. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.46 earnings per share. On average, research analysts predict that Store Capital Corp will post 1.9 EPS for the current year.
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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