AJO LP lowered its stake in shares of Store Capital Corp (NYSE:STOR) by 25.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 104,848 shares of the real estate investment trust’s stock after selling 35,520 shares during the quarter. AJO LP’s holdings in Store Capital were worth $3,512,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Altshuler Shaham Ltd bought a new position in Store Capital during the fourth quarter worth $26,000. Cedar Wealth Management LLC acquired a new position in Store Capital during the first quarter worth about $34,000. Parallel Advisors LLC raised its stake in Store Capital by 2,702.7% during the first quarter. Parallel Advisors LLC now owns 1,037 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 1,000 shares in the last quarter. Duncker Streett & Co. Inc. acquired a new position in Store Capital during the first quarter worth about $50,000. Finally, Joseph P. Lucia & Associates LLC acquired a new position in Store Capital during the first quarter worth about $50,000. 90.25% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have commented on the company. Zacks Investment Research downgraded Store Capital from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Raymond James boosted their price target on Store Capital from $34.00 to $36.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. BTIG Research upped their target price on Store Capital to $37.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, Berenberg Bank began coverage on Store Capital in a report on Tuesday, April 23rd. They issued a “buy” rating and a $36.00 target price on the stock. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $33.50.
Store Capital (NYSE:STOR) last issued its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.26). The firm had revenue of $156.60 million for 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%. Store Capital’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. Sell-side analysts forecast that Store Capital Corp will post 1.89 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Thursday, June 27th. Store Capital’s payout ratio is currently 71.74%.
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 2,255 property locations, substantially all of which are profit centers, in 49 states.
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