Nan Shan Life Insurance Co. Ltd. lessened its stake in shares of Store Capital Corp (NYSE:STOR) by 46.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,812,329 shares of the real estate investment trust’s stock after selling 1,554,188 shares during the period. Nan Shan Life Insurance Co. Ltd.’s holdings in Store Capital were worth $50,365,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its holdings in Store Capital by 2.0% during the second quarter. Public Employees Retirement System of Ohio now owns 138,364 shares of the real estate investment trust’s stock valued at $3,791,000 after purchasing an additional 2,729 shares during the last quarter. LSV Asset Management bought a new stake in shares of Store Capital in the second quarter valued at approximately $257,000. State of Wisconsin Investment Board boosted its position in shares of Store Capital by 146.8% in the second quarter. State of Wisconsin Investment Board now owns 84,276 shares of the real estate investment trust’s stock valued at $2,309,000 after acquiring an additional 50,122 shares during the period. Centersquare Investment Management LLC boosted its position in shares of Store Capital by 27.0% in the second quarter. Centersquare Investment Management LLC now owns 2,051,424 shares of the real estate investment trust’s stock valued at $56,209,000 after acquiring an additional 435,959 shares during the period. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Store Capital in the second quarter valued at approximately $2,006,000. Institutional investors own 89.95% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research cut Store Capital from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. ValuEngine raised Store Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, October 23rd. 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. BMO Capital Markets assumed coverage on Store Capital in a research report on Tuesday, September 18th. They issued a “buy” rating and a $32.00 price objective for the company. Finally, Mizuho set a $30.00 price objective on Store Capital and gave the company a “buy” rating in a research report on Monday, August 13th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $29.25.
Store Capital (NYSE:STOR) last issued its earnings results on Thursday, November 1st. The real estate investment trust reported $0.47 EPS for the quarter, topping the consensus estimate of $0.44 by $0.03. The firm had revenue of $137.00 million during the quarter, compared to analysts’ expectations of $135.39 million. Store Capital had a return on equity of 6.11% and a net margin of 39.17%. Store Capital’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same period last year, the business earned $0.41 earnings per share. As a group, sell-side analysts predict that Store Capital Corp will post 1.75 earnings per share for the current fiscal year.
Store Capital Company Profile
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.
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