Brokerages expect that STORE Capital (NYSE:STOR) will announce earnings of $0.43 per share for the current quarter, Zacks reports. Three analysts have made estimates for STORE Capital’s earnings, with the lowest EPS estimate coming in at $0.42 and the highest estimate coming in at $0.44. STORE Capital posted earnings of $0.42 per share in the same quarter last year, which suggests a positive year over year growth rate of 2.4%. The business is scheduled to report its next quarterly earnings results before the market opens on Thursday, May 3rd.
According to Zacks, analysts expect that STORE Capital will report full-year earnings of $1.75 per share for the current fiscal year, with EPS estimates ranging from $1.72 to $1.78. For the next fiscal year, analysts forecast that the business will report earnings of $1.84 per share, with EPS estimates ranging from $1.81 to $1.89. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover STORE Capital.
STORE Capital (NYSE:STOR) last released its quarterly earnings results on Thursday, February 22nd. The real estate investment trust reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. The business had revenue of $120.10 million during the quarter, compared to analysts’ expectations of $114.90 million. STORE Capital had a return on equity of 5.35% and a net margin of 36.27%. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS.
Several research firms have weighed in on STOR. SunTrust Banks set a $27.00 price target on STORE Capital and gave the company a “buy” rating in a report on Tuesday, April 3rd. Wells Fargo cut their price target on STORE Capital from $27.00 to $26.00 and set a “market perform” rating for the company in a report on Tuesday, March 20th. Capital One Financial restated an “overweight” rating on shares of STORE Capital in a report on Wednesday, March 14th. Zacks Investment Research upgraded STORE Capital from a “sell” rating to a “hold” rating in a report on Friday, March 9th. Finally, Robert W. Baird restated a “buy” rating on shares of STORE Capital in a report on Tuesday, February 27th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $26.91.
In other STORE Capital news, insider Christopher H. Volk purchased 4,250 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average cost of $23.64 per share, with a total value of $100,470.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Catherine F. Long purchased 4,225 shares of the firm’s stock in a transaction that occurred on 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. Insiders bought a total of 12,475 shares of company stock valued at $295,603 over the last ninety days. Corporate insiders own 0.90% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. lifted its stake in shares of STORE Capital by 21.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 12,709 shares of the real estate investment trust’s stock worth $331,000 after acquiring an additional 2,245 shares during the last quarter. Xact Kapitalforvaltning AB bought a new stake in shares of STORE Capital during the 4th quarter worth approximately $361,000. Envestnet Asset Management Inc. lifted its stake in shares of STORE Capital by 189.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 4,096 shares of the real estate investment trust’s stock worth $106,000 after acquiring an additional 2,681 shares during the last quarter. WealthPLAN Partners LLC bought a new stake in shares of STORE Capital during the 4th quarter worth approximately $508,000. Finally, Eii Capital Management Inc. lifted its stake in shares of STORE Capital by 35.5% during the 4th quarter. Eii Capital Management Inc. now owns 81,863 shares of the real estate investment trust’s stock worth $2,132,000 after acquiring an additional 21,463 shares during the last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.
NYSE STOR opened at $24.66 on Wednesday. The company has a market cap of $4,761.90, a price-to-earnings ratio of 14.42, a PEG ratio of 2.80 and a beta of 0.12. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.57 and a quick ratio of 0.57. STORE Capital has a 1-year low of $19.65 and a 1-year high of $26.58.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 30th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 5.03%. The ex-dividend date is Wednesday, March 28th. STORE Capital’s payout ratio is 72.51%.
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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 1,921 property locations, substantially all of which are profit centers, in 48 states.
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