Store Capital Corp (NYSE:STOR) declared a quarterly dividend on Friday, June 15th, NASDAQ reports. Shareholders of record on Friday, June 29th will be given a dividend of 0.31 per share by the real estate investment trust on Monday, July 16th. This represents a $1.24 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend is Thursday, June 28th.
Store Capital has a payout ratio of 77.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Store Capital to earn $1.85 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 67.0%.
Store Capital traded up $0.07, reaching $27.23, during midday trading on Wednesday, MarketBeat reports. The company had a trading volume of 28,362 shares, compared to its average volume of 1,514,342. Store Capital has a 1 year low of $21.59 and a 1 year high of $27.31. The stock has a market cap of $5.36 billion, a PE ratio of 15.88, a P/E/G ratio of 3.08 and a beta of 0.14. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.34 and a quick ratio of 0.34.
Store Capital (NYSE:STOR) last announced its quarterly earnings data on Thursday, May 3rd. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.17). Store Capital had a net margin of 38.37% and a return on equity of 5.71%. The business had revenue of $125.80 million during the quarter, compared to analysts’ expectations of $124.83 million. During the same period last year, the company posted $0.43 EPS. Store Capital’s revenue for the quarter was up 16.5% on a year-over-year basis. research analysts expect that Store Capital will post 1.75 EPS for the current fiscal year.
A number of brokerages have recently issued reports on STOR. ValuEngine cut shares of Store Capital from a “buy” rating to a “hold” rating in a research note on Wednesday, June 13th. Zacks Investment Research cut shares of Store Capital from a “buy” rating to a “hold” rating in a research note on Friday, May 18th. SunTrust Banks set a $27.00 price objective on shares of Store Capital and gave the company a “buy” rating in a research note on Tuesday, April 3rd. Wells Fargo & Co cut their price objective on shares of Store Capital from $27.00 to $26.00 and set a “market perform” rating for the company in a research note on Tuesday, March 20th. Finally, Capital One Financial reaffirmed an “overweight” rating on shares of Store Capital in a research note on Wednesday, March 14th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $27.11.
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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