M&T Bank Corp boosted its holdings in Store Capital Corp (NYSE:STOR) by 25.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,347 shares of the real estate investment trust’s stock after purchasing an additional 4,665 shares during the quarter. M&T Bank Corp’s holdings in Store Capital were worth $775,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of STOR. Advisory Services Network LLC grew its stake in shares of Store Capital by 100.0% in the 1st quarter. Advisory Services Network LLC now owns 1,000 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 500 shares during the last quarter. Financial Enhancement Group LLC increased its holdings in shares of Store Capital by 2.3% in the second quarter. Financial Enhancement Group LLC now owns 320,066 shares of the real estate investment trust’s stock valued at $10,623,000 after purchasing an additional 7,166 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Store Capital by 23.3% in the first quarter. Janus Henderson Group PLC now owns 494,363 shares of the real estate investment trust’s stock valued at $16,561,000 after purchasing an additional 93,568 shares during the period. AGF Investments LLC raised its stake in shares of Store Capital by 21.8% during the second quarter. AGF Investments LLC now owns 9,098 shares of the real estate investment trust’s stock worth $302,000 after purchasing an additional 1,630 shares during the last quarter. Finally, PARK CIRCLE Co purchased a new stake in shares of Store Capital during the first quarter worth approximately $168,000. Hedge funds and other institutional investors own 90.95% of the company’s stock.
A number of equities analysts recently weighed in on STOR shares. ValuEngine lowered shares of Store Capital from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research downgraded shares of Store Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Deutsche Bank initiated coverage on shares of Store Capital in a research report on Tuesday, August 27th. They set a “buy” rating and a $40.00 price objective for the company. BMO Capital Markets restated a “buy” rating and issued a $35.00 target price on shares of Store Capital in a research note on Monday, August 5th. Finally, Raymond James set a $39.00 target price on shares of Store Capital and gave the company a “buy” rating in a report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $37.00.
Shares of STOR traded down $0.17 during mid-day trading on Wednesday, hitting $36.06. The company’s stock had a trading volume of 46,601 shares, compared to its average volume of 1,349,074. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.52. The firm has a 50-day simple moving average of $36.14 and a 200 day simple moving average of $34.20. The firm has a market capitalization of $8.19 billion, a P/E ratio of 19.67, a P/E/G ratio of 3.91 and a beta of 0.18. Store Capital Corp has a 1-year low of $26.93 and a 1-year high of $38.76.
Store Capital (NYSE:STOR) last posted its quarterly 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). Store Capital had a net margin of 36.14% and a return on equity of 5.73%. The business had revenue of $163.80 million during the quarter, compared to analysts’ expectations of $162.18 million. During the same quarter last year, the firm earned $0.46 earnings per share. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. As a group, sell-side analysts predict that Store Capital Corp will post 1.9 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.35 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.40 dividend on an annualized basis and a yield of 3.88%. This is an increase from Store Capital’s previous quarterly dividend of $0.33. Store Capital’s dividend payout ratio (DPR) is 71.74%.
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 2,255 property locations, substantially all of which are profit centers, in 49 states.
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