Russell Investments Group Ltd. decreased its holdings in shares of Store Capital Corp (NYSE:STOR) by 21.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 819,676 shares of the real estate investment trust’s stock after selling 217,716 shares during the period. Russell Investments Group Ltd.’s holdings in Store Capital were worth $22,660,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its stake in Store Capital by 17.3% in 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 buying an additional 1,711,289 shares in the last quarter. Millennium Management LLC boosted its stake in Store Capital by 576.7% in the second quarter. Millennium Management LLC now owns 973,228 shares of the real estate investment trust’s stock worth $26,666,000 after buying an additional 829,409 shares in the last quarter. BlackRock Inc. boosted its stake in Store Capital by 5.6% in the second quarter. BlackRock Inc. now owns 12,089,275 shares of the real estate investment trust’s stock worth $331,247,000 after buying an additional 642,883 shares in the last quarter. Virginia Retirement Systems ET AL boosted its stake in Store Capital by 75.8% in 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 buying an additional 532,800 shares in the last quarter. Finally, Centersquare Investment Management LLC boosted its stake in Store Capital by 27.0% in the second quarter. Centersquare Investment Management LLC now owns 2,051,424 shares of the real estate investment trust’s stock worth $56,209,000 after buying an additional 435,959 shares in the last quarter. 94.45% of the stock is owned by institutional investors.
Shares of STOR stock opened at $29.44 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. Store Capital Corp has a fifty-two week low of $22.51 and a fifty-two week high of $29.82. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 17.22, a P/E/G ratio of 3.31 and a beta of 0.07.
Store Capital (NYSE:STOR) last announced its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.03. Store Capital had a return on equity of 6.26% and a net margin of 39.17%. The firm had revenue of $137.00 million during the quarter, compared to the consensus estimate of $135.39 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The business’s revenue was up 24.0% on a year-over-year basis. On average, equities analysts predict that Store Capital Corp will post 1.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were given a $0.33 dividend. The ex-dividend date was Thursday, September 27th. This represents a $1.32 annualized dividend and a yield of 4.48%. This is an increase from Store Capital’s previous quarterly dividend of $0.31. Store Capital’s payout ratio is presently 77.19%.
STOR has been the subject of several research reports. Morgan Stanley raised Store Capital from an “equal weight” rating to an “overweight” rating and set a $31.00 target price for the company in a research note on Monday, October 1st. BMO Capital Markets initiated coverage on Store Capital in a research report on Tuesday, September 18th. They issued a “buy” rating and a $32.00 price objective for the company. Zacks Investment Research downgraded Store Capital from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. Mizuho set a $30.00 price objective on Store Capital and gave the company a “buy” rating in a research report on Monday, August 13th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $29.00 price objective on shares of Store Capital in a research report on Sunday, July 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $29.00.
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 2,084 property locations, substantially all of which are profit centers, in 49 states.
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