Pictet Asset Management Ltd. grew its holdings in shares of Store Capital Corp (NYSE:STOR) by 19.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,600 shares of the real estate investment trust’s stock after buying an additional 6,300 shares during the period. Pictet Asset Management Ltd.’s holdings in Store Capital were worth $1,281,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Advisory Services Network LLC lifted its holdings in shares of Store Capital by 100.0% during the first 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 in the last quarter. Heritage Wealth Advisors increased its position in Store Capital by 120.0% during the second quarter. Heritage Wealth Advisors now owns 1,100 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 600 shares during the last quarter. SRS Capital Advisors Inc. purchased a new stake in Store Capital during the second quarter valued at $44,000. Advisory Alpha LLC purchased a new stake in Store Capital during the first quarter valued at $57,000. Finally, Winslow Evans & Crocker Inc. increased its position in Store Capital by 33.3% during the second quarter. Winslow Evans & Crocker Inc. now owns 3,200 shares of the real estate investment trust’s stock valued at $108,000 after acquiring an additional 800 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.
In other news, Director Joseph M. Donovan purchased 2,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was bought at an average price of $36.11 per share, with a total value of $72,220.00. Following the transaction, the director now owns 55,794 shares in the company, valued at approximately $2,014,721.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.84% of the company’s stock.
Shares of NYSE STOR traded up $0.33 during midday trading on Thursday, hitting $37.29. The company’s stock had a trading volume of 13,359 shares, compared to its average volume of 1,449,176. 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 business’s 50 day moving average is $36.46 and its two-hundred day moving average is $34.33. Store Capital Corp has a 12-month low of $26.93 and a 12-month high of $38.76. The firm has a market cap of $8.33 billion, a P/E ratio of 20.26, a price-to-earnings-growth ratio of 3.87 and a beta of 0.18.
Store Capital (NYSE:STOR) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.17). The company had revenue of $163.80 million during the quarter, compared to analysts’ expectations of $162.18 million. Store Capital had a net margin of 36.14% and a return on equity of 5.73%. The company’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 earnings per share. On average, analysts predict that Store Capital Corp will post 1.9 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.40 dividend on an annualized basis and a yield of 3.75%. This is a boost from Store Capital’s previous quarterly dividend of $0.33. Store Capital’s payout ratio is currently 71.74%.
A number of brokerages have commented on STOR. Raymond James set a $39.00 price target on Store Capital and gave the stock a “buy” rating in a research report on Monday, August 26th. Zacks Investment Research cut Store Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. ValuEngine cut Store Capital from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Morgan Stanley upped their price target on Store Capital from $36.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Deutsche Bank began coverage on Store Capital in a research report on Tuesday, August 27th. They issued a “buy” rating and a $40.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $37.38.
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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