Pictet Asset Management Ltd. Buys 8,900 Shares of Store Capital Corp (NYSE:STOR)
Pictet Asset Management Ltd. increased its holdings in shares of Store Capital Corp (NYSE:STOR) by 38.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,300 shares of the real estate investment trust’s stock after buying an additional 8,900 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Store Capital were worth $1,082,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc boosted its stake in shares of Store Capital by 3.9% during the third quarter. Vanguard Group Inc now owns 25,788,353 shares of the real estate investment trust’s stock valued at $716,658,000 after acquiring an additional 965,052 shares during the last quarter. BlackRock Inc. boosted its stake in Store Capital by 2.1% in the 1st quarter. BlackRock Inc. now owns 13,720,349 shares of the real estate investment trust’s stock worth $459,631,000 after buying an additional 286,783 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Store Capital by 3.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 12,359,692 shares of the real estate investment trust’s stock valued at $349,904,000 after purchasing an additional 436,334 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Store Capital by 40.2% in the 4th quarter. Deutsche Bank AG now owns 6,630,688 shares of the real estate investment trust’s stock valued at $187,711,000 after purchasing an additional 1,899,969 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Store Capital by 328.6% in the 4th quarter. Millennium Management LLC now owns 3,606,817 shares of the real estate investment trust’s stock valued at $102,109,000 after purchasing an additional 2,765,268 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.
STOR has been the topic of several analyst reports. Raymond James set a $34.00 target price on Store Capital and gave the company a “buy” rating in a report on Thursday, February 28th. BTIG Research boosted their price target on Store Capital to $37.00 and gave the company a “buy” rating in a report on Monday, April 15th. Berenberg Bank began coverage on Store Capital in a research report on Tuesday, April 23rd. They set a “buy” rating and a $36.00 price objective for the company. Finally, Zacks Investment Research lowered Store Capital from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $33.50.
Store Capital (NYSE:STOR) last issued its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.26). Store Capital had a return on equity of 5.83% and a net margin of 37.19%. The company had revenue of $156.60 million during the quarter, compared to analyst estimates of $152.22 million. During the same period in the previous year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 24.5% on a year-over-year basis. Analysts anticipate that Store Capital Corp will post 1.89 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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