Store Capital Corp (NYSE:STOR) Expected to Post Earnings of $0.48 Per Share

Analysts forecast that Store Capital Corp (NYSE:STOR) will report earnings of $0.48 per share for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Store Capital’s earnings, with the highest EPS estimate coming in at $0.49 and the lowest estimate coming in at $0.47. Store Capital reported earnings of $0.47 per share in the same quarter last year, which would indicate a positive year over year growth rate of 2.1%. The firm is expected to issue its next earnings results before the market opens on Thursday, October 31st.

According to Zacks, analysts expect that Store Capital will report full year earnings of $1.90 per share for the current fiscal year, with EPS estimates ranging from $1.88 to $1.92. For the next fiscal year, analysts anticipate that the company will report earnings of $2.03 per share, with EPS estimates ranging from $1.96 to $2.07. Zacks’ EPS averages are an average based on a survey of analysts that follow Store Capital.

Store Capital (NYSE:STOR) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.17). The business had revenue of $163.80 million for the quarter, compared to the consensus estimate of $162.18 million. Store Capital had a net margin of 36.14% and a return on equity of 5.73%. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.46 EPS.

A number of equities analysts have issued reports on the stock. Morgan Stanley lifted their price objective on shares of Store Capital from $36.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. ValuEngine downgraded shares of Store Capital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. 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. Zacks Investment Research downgraded shares of Store Capital from a “buy” rating to a “hold” rating in a report on Thursday. Finally, BMO Capital Markets reissued a “buy” rating and issued a $35.00 price target on shares of Store Capital in a report on Monday, August 5th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $37.75.

In related news, Director Joseph M. Donovan purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were purchased 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 directly owns 55,794 shares in the company, valued at approximately $2,014,721.34. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.84% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Store Capital by 5.5% during the second quarter. Vanguard Group Inc. now owns 29,124,884 shares of the real estate investment trust’s stock valued at $966,654,000 after acquiring an additional 1,512,668 shares during the last quarter. BlackRock Inc. grew its position in Store Capital by 1.2% during the second quarter. BlackRock Inc. now owns 13,878,838 shares of the real estate investment trust’s stock valued at $460,640,000 after acquiring an additional 158,489 shares during the last quarter. Morgan Stanley grew its position in Store Capital by 214.5% during the second quarter. Morgan Stanley now owns 4,550,895 shares of the real estate investment trust’s stock valued at $151,045,000 after acquiring an additional 3,103,657 shares during the last quarter. Resolution Capital Ltd grew its position in Store Capital by 118.8% during the third quarter. Resolution Capital Ltd now owns 3,339,967 shares of the real estate investment trust’s stock valued at $124,948,000 after acquiring an additional 1,813,713 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position 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 valued at $74,170,000 after acquiring an additional 102,414 shares during the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

STOR traded up $0.26 during mid-day trading on Friday, reaching $37.90. 1,187,128 shares of the stock were exchanged, compared to its average volume of 1,232,743. 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 capitalization of $8.55 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 3.97 and a beta of 0.18. The company has a 50 day moving average price of $37.47 and a two-hundred day moving average price of $35.07. Store Capital has a 1 year low of $27.35 and a 1 year high of $38.76.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, September 27th. This is a boost from Store Capital’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 3.69%. Store Capital’s dividend payout ratio is currently 76.09%.

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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Earnings History and Estimates for Store Capital (NYSE:STOR)

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