State of Alaska Department of Revenue lifted its position in Store Capital Corp (NYSE:STOR) by 21.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,752 shares of the real estate investment trust’s stock after buying an additional 17,792 shares during the quarter. State of Alaska Department of Revenue’s holdings in Store Capital were worth $3,376,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Cedar Wealth Management LLC acquired a new stake in shares of Store Capital in the first quarter worth $34,000. Advisory Services Network LLC lifted its stake in shares of Store Capital by 100.0% in the first quarter. Advisory Services Network LLC now owns 1,000 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 500 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Store Capital by 2,702.7% in the first quarter. Parallel Advisors LLC now owns 1,037 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 1,000 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new stake in shares of Store Capital in the first quarter worth $50,000. Finally, Joseph P. Lucia & Associates LLC acquired a new stake in shares of Store Capital in the first quarter worth $50,000. Institutional investors and hedge funds own 90.19% of the company’s stock.
STOR has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Store Capital from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 16th. Raymond James upped their target price on shares of Store Capital from $34.00 to $36.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Berenberg Bank began coverage on shares of Store Capital in a research note on Tuesday, April 23rd. They set a “buy” rating and a $36.00 target price for the company. ValuEngine cut shares of Store Capital from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Morgan Stanley upped their target price on shares of Store Capital from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $34.86.
Store Capital (NYSE:STOR) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.17). The company had revenue of $163.80 million for the quarter, compared to analyst estimates of $162.18 million. Store Capital had a net margin of 37.19% and a return on equity of 5.83%. Store Capital’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.46 earnings per share. On average, analysts expect that Store Capital Corp will post 1.9 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend was Thursday, June 27th. Store Capital’s dividend payout ratio is 71.74%.
Store Capital Company 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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