Store Capital (NYSE:STOR) Given New $36.00 Price Target at Morgan Stanley

Store Capital (NYSE:STOR) had its price objective upped by Morgan Stanley from $35.00 to $36.00 in a report issued on Thursday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the real estate investment trust’s stock.

A number of other equities analysts also recently commented on the company. Raymond James reiterated an average rating on shares of PPL in a research note on Monday, May 6th. BTIG Research initiated coverage on Forestar Group in a research note on Monday, April 15th. They issued a buy rating and a $23.00 price target for the company. Zacks Investment Research upgraded HENKEL AG & CO/S from a sell rating to a hold rating in a research note on Thursday, June 6th. Finally, Berenberg Bank set a €126.00 ($146.51) price target on Nemetschek and gave the stock a neutral rating in a research note on Tuesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Store Capital currently has an average rating of Buy and an average target price of $34.13.

NYSE:STOR opened at $34.25 on Thursday. The firm has a market capitalization of $7.77 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 3.61 and a beta of 0.21. Store Capital has a one year low of $26.93 and a one year high of $35.59. The stock has a 50-day moving average price of $34.40. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.52.

Store Capital (NYSE:STOR) last posted its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.26). The firm had revenue of $156.60 million during the quarter, compared to analyst estimates of $152.22 million. Store Capital had a return on equity of 5.83% and a net margin of 37.19%. The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter last year, the business posted $0.44 earnings per share. As a group, analysts expect that Store Capital will post 1.9 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.33 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.32 dividend on an annualized basis and a yield of 3.85%. Store Capital’s dividend payout ratio is currently 71.74%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Stevens Capital Management LP raised its holdings in shares of Store Capital by 20.8% during the first quarter. Stevens Capital Management LP now owns 56,333 shares of the real estate investment trust’s stock valued at $1,887,000 after buying an additional 9,689 shares during the last quarter. Moors & Cabot Inc. bought a new stake in shares of Store Capital during the first quarter valued at approximately $404,000. Two Sigma Advisers LP raised its holdings in shares of Store Capital by 16.7% during the fourth quarter. Two Sigma Advisers LP now owns 984,376 shares of the real estate investment trust’s stock valued at $27,868,000 after buying an additional 140,700 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Store Capital by 23.3% during the first quarter. Janus Henderson Group PLC now owns 494,363 shares of the real estate investment trust’s stock valued at $16,561,000 after buying an additional 93,568 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Store Capital by 328.6% during the fourth quarter. Millennium Management LLC now owns 3,606,817 shares of the real estate investment trust’s stock valued at $102,109,000 after buying an additional 2,765,268 shares during the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

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 2,255 property locations, substantially all of which are profit centers, in 49 states.

Featured Story: How Important is Technical Analysis of Stocks

Analyst Recommendations for Store Capital (NYSE:STOR)

Receive News & Ratings for Store Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Store Capital and related companies with MarketBeat.com's FREE daily email newsletter.