STORE Capital Corporation (STOR) Lifted to Buy at BidaskClub
BidaskClub upgraded shares of STORE Capital Corporation (NYSE:STOR) from a hold rating to a buy rating in a report published on Tuesday morning.
Several other equities research analysts have also recently issued reports on STOR. Capital One Financial Corporation restated a buy rating and set a $30.00 price objective on shares of STORE Capital Corporation in a report on Friday, June 30th. Mizuho upgraded STORE Capital Corporation from a neutral rating to a buy rating and lifted their target price for the company from $23.50 to $27.00 in a report on Thursday, August 31st. Zacks Investment Research upgraded STORE Capital Corporation from a strong sell rating to a hold rating in a report on Tuesday, August 29th. BTIG Research reiterated a buy rating and issued a $28.00 target price on shares of STORE Capital Corporation in a report on Friday, June 30th. Finally, KeyCorp reiterated a hold rating on shares of STORE Capital Corporation in a report on Wednesday, October 4th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. STORE Capital Corporation has an average rating of Buy and an average target price of $27.22.
Shares of STORE Capital Corporation (NYSE:STOR) opened at 25.31 on Tuesday. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 25.51 and a beta of 0.23. The stock has a 50 day moving average price of $25.43 and a 200-day moving average price of $23.44. STORE Capital Corporation has a 52 week low of $19.65 and a 52 week high of $28.58.
STORE Capital Corporation (NYSE:STOR) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.07). The firm had revenue of $114.21 million during the quarter, compared to analysts’ expectations of $112.27 million. STORE Capital Corporation had a net margin of 38.71% and a return on equity of 5.98%. The business’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.38 earnings per share. On average, analysts anticipate that STORE Capital Corporation will post $0.87 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were issued a $0.31 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.24 dividend on an annualized basis and a yield of 4.90%. This is a boost from STORE Capital Corporation’s previous quarterly dividend of $0.29. STORE Capital Corporation’s dividend payout ratio (DPR) is presently 126.53%.
In related news, Director William Franklin Hipp acquired 4,000 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were bought at an average cost of $25.18 per share, with a total value of $100,720.00. Following the completion of the transaction, the director now directly owns 18,499 shares of the company’s stock, valued at approximately $465,804.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.90% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in STOR. Berkshire Hathaway Inc. purchased a new position in STORE Capital Corporation in the second quarter valued at about $418,057,000. BlackRock Inc. raised its position in STORE Capital Corporation by 3,974.5% in the first quarter. BlackRock Inc. now owns 10,152,844 shares of the real estate investment trust’s stock valued at $242,450,000 after purchasing an additional 9,903,666 shares during the period. CI Global Investments Inc. raised its position in STORE Capital Corporation by 154.8% in the second quarter. CI Global Investments Inc. now owns 12,744,954 shares of the real estate investment trust’s stock valued at $286,124,000 after purchasing an additional 7,743,682 shares during the period. Cbre Clarion Securities LLC raised its position in STORE Capital Corporation by 272.6% in the second quarter. Cbre Clarion Securities LLC now owns 4,890,472 shares of the real estate investment trust’s stock valued at $109,791,000 after purchasing an additional 3,577,846 shares during the period. Finally, Principal Financial Group Inc. raised its position in STORE Capital Corporation by 22.0% in the second quarter. Principal Financial Group Inc. now owns 12,138,830 shares of the real estate investment trust’s stock valued at $272,516,000 after purchasing an additional 2,189,912 shares during the period.
About STORE Capital Corporation
STORE Capital Corporation is an internally managed net-lease real estate investment trust. The Company is engaged in the acquisition, investment and management of single tenant operational real estate (STORE) properties. As of December 31, 2016, the Company owned a portfolio that consisted of investments in 1,660 property locations operated by 360 customers across 48 states.
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