Daiwa Securities Group Inc. grew its position in Store Capital Corp (NYSE:STOR) by 7.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,100 shares of the real estate investment trust’s stock after purchasing an additional 2,500 shares during the period. Daiwa Securities Group Inc.’s holdings in Store Capital were worth $1,388,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Financial Enhancement Group LLC increased its holdings in Store Capital by 2.3% during the second quarter. Financial Enhancement Group LLC now owns 320,066 shares of the real estate investment trust’s stock worth $10,623,000 after buying an additional 7,166 shares during the last quarter. AXA increased its holdings in Store Capital by 3.1% during the second quarter. AXA now owns 835,872 shares of the real estate investment trust’s stock worth $27,743,000 after buying an additional 25,176 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Store Capital by 1.9% during the second quarter. Public Employees Retirement System of Ohio now owns 72,819 shares of the real estate investment trust’s stock worth $2,417,000 after buying an additional 1,387 shares during the last quarter. AGF Investments LLC increased its holdings in Store Capital by 21.8% during the second quarter. AGF Investments LLC now owns 9,098 shares of the real estate investment trust’s stock worth $302,000 after buying an additional 1,630 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Store Capital by 4.8% during the second quarter. JPMorgan Chase & Co. now owns 2,233,384 shares of the real estate investment trust’s stock worth $74,170,000 after buying an additional 102,414 shares during the last quarter. Institutional investors own 89.11% of the company’s stock.
Shares of NYSE:STOR opened at $39.25 on Tuesday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $9.12 billion, a PE ratio of 19.81, a P/E/G ratio of 4.08 and a beta of 0.19. Store Capital Corp has a twelve month low of $27.35 and a twelve month high of $40.78. The company has a 50-day moving average price of $38.33 and a two-hundred day moving average price of $35.78.
Store Capital (NYSE:STOR) last issued its earnings results on Thursday, October 31st. The real estate investment trust reported $0.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.48. The firm had revenue of $171.80 million during the quarter, compared to analyst estimates of $167.38 million. Store Capital had a net margin of 44.09% and a return on equity of 6.92%. The company’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter last year, the business earned $0.47 earnings per share. Analysts anticipate that Store Capital Corp will post 1.9 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date was Friday, September 27th. This is a positive change from Store Capital’s previous quarterly dividend of $0.33. Store Capital’s dividend payout ratio (DPR) is currently 76.09%.
In other news, Director Joseph M. Donovan acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was bought at an average cost of $36.11 per share, for a total transaction of $72,220.00. Following the completion of the transaction, the director now owns 55,794 shares of the company’s stock, valued at $2,014,721.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.84% of the stock is owned by company insiders.
STOR has been the subject of a number of research analyst reports. BMO Capital Markets restated a “buy” rating and set a $35.00 price objective on shares of Store Capital in a report on Monday, August 5th. Raymond James set a $39.00 price objective on shares of Store Capital and gave the stock a “buy” rating in a report on Monday, August 26th. Morgan Stanley increased their target price on shares of Store Capital from $36.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 17th. Zacks Investment Research lowered shares of Store Capital from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Deutsche Bank initiated coverage on shares of Store Capital in a research report on Tuesday, August 27th. They set a “buy” rating and a $40.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $37.75.
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 2,255 property locations, substantially all of which are profit centers, in 49 states.
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