STORE Capital (NYSE:STOR) declared a quarterly dividend on Thursday, March 15th, NASDAQ reports. Stockholders of record on Friday, March 30th will be paid a dividend of 0.31 per share by the real estate investment trust on Monday, April 16th. This represents a $1.24 annualized dividend and a dividend yield of 4.94%. The ex-dividend date is Wednesday, March 28th.
STORE Capital has a 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 fall. Equities 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%.
Shares of STOR stock traded down $0.19 on Friday, reaching $25.08. The company’s stock had a trading volume of 1,816,431 shares, compared to its average volume of 1,632,841. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market cap of $4,909.56, a PE ratio of 14.67, a price-to-earnings-growth ratio of 2.89 and a beta of 0.12. STORE Capital has a 1 year low of $19.65 and a 1 year high of $26.58.
STORE Capital (NYSE:STOR) last released its earnings results on Thursday, February 22nd. The real estate investment trust reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.02. STORE Capital had a return on equity of 5.35% and a net margin of 36.27%. The business had revenue of $120.10 million during the quarter, compared to the consensus estimate of $114.90 million. During the same period last year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. equities analysts predict that STORE Capital will post 1.75 EPS for the current year.
In other STORE Capital news, Director Joseph M. Donovan bought 4,000 shares of STORE Capital stock in a transaction dated Wednesday, February 28th. The stock was acquired at an average cost of $23.75 per share, with a total value of $95,000.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Catherine F. Long bought 4,225 shares of STORE Capital stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average cost of $23.70 per share, with a total value of $100,132.50. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 12,475 shares of company stock worth $295,603. 0.90% of the stock is owned by insiders.
An institutional investor recently raised its position in STORE Capital stock. The Manufacturers Life Insurance Company raised its stake in STORE Capital (NYSE:STOR) by 8.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,356 shares of the real estate investment trust’s stock after buying an additional 409 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in STORE Capital were worth $120,000 at the end of the most recent quarter. 94.20% of the stock is owned by institutional investors and hedge funds.
Several analysts recently weighed in on STOR shares. ValuEngine upgraded STORE Capital from a “hold” rating to a “buy” rating in a report on Tuesday, January 16th. SunTrust Banks reiterated a “buy” rating and issued a $26.00 target price on shares of STORE Capital in a research note on Monday, January 22nd. B. Riley set a $26.00 target price on STORE Capital and gave the company a “hold” rating in a research note on Friday, February 23rd. Robert W. Baird reiterated a “buy” rating on shares of STORE Capital in a research note on Tuesday, February 27th. Finally, Zacks Investment Research upgraded STORE Capital from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $26.91.
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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 1,921 property locations, substantially all of which are profit centers, in 48 states.
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