Janney Montgomery Scott LLC lessened its stake in shares of Store Capital Corp (NYSE:STOR) by 4.5% during the second quarter, Holdings Channel.com reports. The firm owned 155,364 shares of the real estate investment trust’s stock after selling 7,403 shares during the period. Janney Montgomery Scott LLC’s holdings in Store Capital were worth $5,157,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in STOR. Resolution Capital Ltd bought a new position in Store Capital in the 1st quarter valued at about $51,625,000. Principal Financial Group Inc. lifted its position in Store Capital by 6.7% in the 1st quarter. Principal Financial Group Inc. now owns 11,257,558 shares of the real estate investment trust’s stock valued at $377,128,000 after acquiring an additional 709,125 shares in the last quarter. Geode Capital Management LLC increased its stake in Store Capital by 26.2% in the 4th quarter. Geode Capital Management LLC now owns 1,935,183 shares of the real estate investment trust’s stock valued at $54,785,000 after buying an additional 401,416 shares during the last quarter. BlackRock Inc. increased its stake in Store Capital by 2.1% in the 1st quarter. BlackRock Inc. now owns 13,720,349 shares of the real estate investment trust’s stock valued at $459,631,000 after buying an additional 286,783 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Store Capital by 8.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,922,787 shares of the real estate investment trust’s stock valued at $82,746,000 after buying an additional 229,754 shares during the last quarter. 90.92% of the stock is currently owned by institutional investors.
NYSE:STOR opened at $36.11 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a market cap of $8.19 billion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 3.82 and a beta of 0.21. Store Capital Corp has a 52 week low of $26.93 and a 52 week high of $36.39. The company has a 50-day moving average price of $34.33.
The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.33 per share. The ex-dividend date was Thursday, June 27th. This represents a $1.32 annualized dividend and a dividend yield of 3.66%. Store Capital’s payout ratio is currently 71.74%.
Several equities research analysts have commented on the stock. ValuEngine lowered shares of Store Capital from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. BMO Capital Markets reiterated a “buy” rating and issued a $35.00 price objective on shares of Store Capital in a research note on Monday, August 5th. Zacks Investment Research upgraded shares of Store Capital from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Thursday, August 8th. Raymond James increased their price objective on shares of Store Capital from $34.00 to $36.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Finally, Berenberg Bank assumed coverage on shares of Store Capital in a research note on Tuesday, April 23rd. They issued a “buy” rating and a $36.00 price objective for the company. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $36.14.
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.
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