Store Capital Corp (NYSE:STOR) announced a quarterly dividend on Thursday, March 15th, NASDAQ reports. Shareholders of record on Friday, March 30th will be given a dividend of 0.31 per share by the real estate investment trust on Monday, April 16th. This represents a $1.24 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date of this dividend is Wednesday, March 28th.
Store Capital has a dividend payout ratio of 77.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Store Capital to earn $1.84 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 67.4%.
Store Capital (NYSE STOR) opened at $24.49 on Friday. The company has a market cap of $4,759.96, a P/E ratio of 27.21, a PEG ratio of 2.82 and a beta of 0.16. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.64. Store Capital has a 12-month low of $19.65 and a 12-month high of $26.58.
Store Capital (NYSE:STOR) last issued its earnings results on Thursday, February 22nd. The real estate investment trust reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. The company had revenue of $120.10 million during the quarter, compared to analysts’ expectations of $114.90 million. Store Capital had a net margin of 36.27% and a return on equity of 5.35%. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.40 EPS. sell-side analysts predict that Store Capital will post 1.74 earnings per share for the current fiscal year.
In other Store Capital news, Director Joseph M. Donovan purchased 4,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was purchased at an average cost of $23.75 per share, for a total transaction of $95,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Christopher H. Volk purchased 4,250 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was acquired at an average price of $23.64 per share, with a total value of $100,470.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 12,475 shares of company stock valued at $295,603. 0.90% of the stock is owned by corporate insiders.
An institutional investor recently raised its position in Store Capital stock. The Manufacturers Life Insurance Company raised its holdings in Store Capital Corp (NYSE:STOR) by 8.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,356 shares of the real estate investment trust’s stock after acquiring an additional 409 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Store Capital were worth $120,000 as of its most recent SEC filing. 94.19% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently commented on STOR. B. Riley set a $26.00 target price on shares of Store Capital and gave the company a “hold” rating in a research report on Friday, February 23rd. Zacks Investment Research upgraded shares of Store Capital from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. ValuEngine cut shares of Store Capital from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. SunTrust Banks reiterated a “buy” rating and set a $26.00 price objective on shares of Store Capital in a research report on Monday, January 22nd. Finally, Robert W. Baird reiterated a “buy” rating on shares of Store Capital in a research report on Tuesday, February 27th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $27.08.
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Store Capital Company Profile
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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