STORE Capital (NYSE:STOR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage currently has a $29.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.64% from the company’s previous close.
According to Zacks, “STORE Capital Corporation is an internally managed net-lease real estate investment trust. It is engaged in the acquisition, investment and management of Single Tenant Operational Real Estate (STORE properties). The Company provides net-lease solutions principally to middle-market and larger companies that own STORE Properties. It invests in single-tenant real estate such as chain restaurants, supermarkets, health clubs, and education, retail, service, and distribution facilities. STORE Capital Corporation is based in Scottsdale, Arizona. “
A number of other research analysts have also commented on STOR. ValuEngine upgraded STORE Capital from a “hold” rating to a “buy” rating in a research report on Friday, May 4th. B. Riley set a $26.00 price objective on STORE Capital and gave the company a “hold” rating in a research report on Friday, February 23rd. Robert W. Baird reiterated a “buy” rating on shares of STORE Capital in a research report on Tuesday, February 27th. SunTrust Banks set a $27.00 price objective on STORE Capital and gave the company a “buy” rating in a research report on Tuesday, April 3rd. Finally, Wells Fargo decreased their price objective on STORE Capital from $27.00 to $26.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 20th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. STORE Capital presently has an average rating of “Buy” and an average price target of $27.11.
Shares of STORE Capital opened at $25.52 on Wednesday, according to MarketBeat. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 2.94 and a beta of 0.11. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.34 and a current ratio of 0.34. STORE Capital has a 52 week low of $25.39 and a 52 week high of $25.69.
STORE Capital (NYSE:STOR) last announced its quarterly earnings data on Thursday, May 3rd. The real estate investment trust reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.17). The firm had revenue of $125.80 million during the quarter, compared to the consensus estimate of $124.83 million. STORE Capital had a net margin of 38.37% and a return on equity of 5.71%. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.43 earnings per share. analysts forecast that STORE Capital will post 1.76 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 on Wednesday, February 28th. The shares were purchased at an average cost of $23.75 per share, for a total transaction of $95,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Catherine F. Long bought 4,225 shares of STORE Capital stock in a transaction on Tuesday, February 27th. The shares were acquired at an average price of $23.70 per share, for a total transaction of $100,132.50. The disclosure for this purchase can be found here. Insiders bought a total of 12,475 shares of company stock worth $295,603 over the last 90 days. 0.85% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Bank of Montreal Can lifted its holdings in STORE Capital by 305.0% during the fourth quarter. Bank of Montreal Can now owns 38,387 shares of the real estate investment trust’s stock worth $999,000 after acquiring an additional 28,908 shares in the last quarter. Pettee Investors Inc. lifted its holdings in STORE Capital by 19.9% during the fourth quarter. Pettee Investors Inc. now owns 30,945 shares of the real estate investment trust’s stock worth $806,000 after acquiring an additional 5,145 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in STORE Capital by 104.2% during the fourth quarter. State of Alaska Department of Revenue now owns 103,670 shares of the real estate investment trust’s stock worth $2,698,000 after acquiring an additional 52,890 shares in the last quarter. Millennium Management LLC bought a new position in STORE Capital during the fourth quarter worth about $17,041,000. Finally, Laurel Grove Capital LLC bought a new position in STORE Capital during the fourth quarter worth about $385,000. Hedge funds and other institutional investors own 95.54% of the company’s stock.
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 2,000 property locations, substantially all of which are profit centers, in 49 states.
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