Duff & Phelps Investment Management Co. increased its position in Store Capital Corp. (NYSE:STOR) by 22.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,818,755 shares of the company’s stock after buying an additional 330,400 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Store Capital Corp. were worth $53,562,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in STOR. HBK Investments L P acquired a new position in shares of Store Capital Corp. during the first quarter worth about $1,201,000. Wellington Management Group LLP acquired a new position in shares of Store Capital Corp. during the first quarter worth about $87,695,000. Geode Capital Management LLC raised its position in shares of Store Capital Corp. by 55.9% in the first quarter. Geode Capital Management LLC now owns 591,892 shares of the company’s stock worth $15,318,000 after buying an additional 212,264 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Store Capital Corp. during the first quarter worth about $1,625,000. Finally, UBS Asset Management Americas Inc. raised its position in shares of Store Capital Corp. by 47.8% in the first quarter. UBS Asset Management Americas Inc. now owns 180,866 shares of the company’s stock worth $4,681,000 after buying an additional 58,484 shares during the period.
Store Capital Corp. (NYSE:STOR) traded up 0.60% during mid-day trading on Wednesday, hitting $28.44. The stock had a trading volume of 972,062 shares. The company has a market cap of $4.35 billion, a P/E ratio of 38.02 and a beta of 0.34. The company has a 50-day moving average price of $28.96 and a 200 day moving average price of $28.05. Store Capital Corp. has a 1-year low of $21.19 and a 1-year high of $31.44.
Store Capital Corp. (NYSE:STOR) last released its earnings results on Thursday, August 4th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Store Capital Corp. had a net margin of 31.21% and a return on equity of 4.97%. The firm earned $92 million during the quarter, compared to analyst estimates of $86.58 million. During the same quarter in the previous year, the business earned $0.36 EPS. The business’s quarterly revenue was up 33.5% compared to the same quarter last year. Equities research analysts forecast that Store Capital Corp. will post $1.56 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 17th. Shareholders of record on Friday, September 30th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date was Wednesday, September 28th. This is a positive change from Store Capital Corp.’s previous quarterly dividend of $0.27. Store Capital Corp.’s payout ratio is currently 154.67%.
STOR has been the subject of a number of research reports. Stifel Nicolaus increased their price target on Store Capital Corp. from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, June 23rd. KeyCorp raised Store Capital Corp. from a “sector weight” rating to an “overweight” rating and set a $35.00 price target for the company in a research note on Thursday, July 14th. Zacks Investment Research raised Store Capital Corp. from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Wednesday, July 27th. BTIG Research initiated coverage on Store Capital Corp. in a research note on Thursday, August 25th. They set a “buy” rating and a $35.00 price target for the company. Finally, Credit Suisse Group AG reaffirmed a “sell” rating and set a $30.00 price target on shares of Store Capital Corp. in a research note on Monday, August 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $29.89.
About Store Capital Corp.
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. The Company’s portfolio includes investments in approximately 1,330 property locations operated by over 300 customers across approximately 50 states.
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