Voya Investment Management LLC Reduces Position in Store Capital Corp (STOR)

Voya Investment Management LLC lessened its stake in shares of Store Capital Corp (NYSE:STOR) by 16.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 37,545 shares of the real estate investment trust’s stock after selling 7,560 shares during the period. Voya Investment Management LLC’s holdings in Store Capital were worth $1,029,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in STOR. Pensionfund Sabic acquired a new position in shares of Store Capital during the 2nd quarter valued at $164,000. Engineers Gate Manager LP bought a new stake in Store Capital during the 2nd quarter valued at $200,000. Sumitomo Mitsui Asset Management Company LTD bought a new stake in Store Capital during the 2nd quarter valued at $207,000. FCA Corp TX purchased a new stake in Store Capital in the second quarter worth $208,000. Finally, MANA Advisors LLC purchased a new stake in Store Capital in the first quarter worth $223,000. Institutional investors own 93.86% of the company’s stock.

Shares of Store Capital stock opened at $28.10 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 3.18 and a beta of 0.15. Store Capital Corp has a 12 month low of $22.51 and a 12 month high of $29.52.

Store Capital (NYSE:STOR) last announced its quarterly earnings data on Thursday, August 2nd. The real estate investment trust reported $0.31 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.13). The firm had revenue of $131.20 million for the quarter, compared to analysts’ expectations of $132.13 million. Store Capital had a net margin of 37.26% and a return on equity of 5.60%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 EPS. Sell-side analysts anticipate that Store Capital Corp will post 1.75 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.70%. The ex-dividend date is Thursday, September 27th. This is a positive change from Store Capital’s previous quarterly dividend of $0.31. Store Capital’s payout ratio is currently 77.19%.

Several equities analysts have commented on the company. Zacks Investment Research lowered Store Capital from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. Janney Montgomery Scott lowered Store Capital from a “buy” rating to a “neutral” rating in a research report on Friday, July 13th. ValuEngine lowered Store Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, June 13th. Morgan Stanley raised Store Capital from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective for the company in a research report on Monday, October 1st. Finally, BMO Capital Markets assumed coverage on Store Capital in a research report on Tuesday, September 18th. They set a “buy” rating and a $32.00 price objective for the company. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $29.00.

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 2,084 property locations, substantially all of which are profit centers, in 49 states.

Further Reading: Index Funds

Institutional Ownership by Quarter for Store Capital (NYSE:STOR)

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