Store Capital (NYSE:STOR) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Store Capital (NYSE:STOR) in a research report sent to investors on Monday, Briefing.com Automated Import reports. The firm issued a buy rating and a $31.00 price target on the real estate investment trust’s stock. Jefferies Financial Group also issued estimates for Store Capital’s Q2 2020 earnings at $0.46 EPS, Q3 2020 earnings at $0.45 EPS, Q4 2020 earnings at $0.46 EPS, FY2020 earnings at $1.87 EPS, FY2021 earnings at $1.93 EPS and FY2022 earnings at $2.10 EPS.

Other research analysts also recently issued reports about the stock. SunTrust Banks decreased their price target on shares of Store Capital from $35.00 to $20.00 and set a hold rating on the stock in a research report on Friday, April 17th. ValuEngine downgraded shares of Store Capital from a hold rating to a sell rating in a research report on Thursday, April 2nd. BMO Capital Markets downgraded shares of Store Capital from an outperform rating to a market perform rating and decreased their price target for the stock from $36.00 to $15.00 in a research report on Monday, April 20th. Wells Fargo & Co increased their price target on shares of Store Capital from $19.00 to $24.00 and gave the stock an equal weight rating in a research report on Thursday, June 18th. Finally, Morgan Stanley downgraded shares of Store Capital from an overweight rating to an equal weight rating in a research report on Monday, May 4th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $28.00.

Shares of STOR stock opened at $23.90 on Monday. Store Capital has a 12-month low of $13.00 and a 12-month high of $40.96. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.64. The firm’s 50 day moving average is $22.00 and its 200 day moving average is $27.69. The stock has a market capitalization of $5.74 billion, a P/E ratio of 18.53 and a beta of 0.95.

Store Capital (NYSE:STOR) last issued its earnings results on Tuesday, May 5th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.23). Store Capital had a return on equity of 6.90% and a net margin of 43.97%. The company had revenue of $177.90 million during the quarter, compared to analysts’ expectations of $178.41 million. During the same quarter in the prior year, the business posted $0.48 EPS. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, equities analysts predict that Store Capital will post 1.84 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, June 29th. This represents a $1.40 annualized dividend and a dividend yield of 5.86%. Store Capital’s payout ratio is 70.35%.

In related news, Director Joseph M. Donovan purchased 8,000 shares of Store Capital stock in a transaction on Wednesday, May 13th. The shares were bought at an average cost of $18.24 per share, for a total transaction of $145,920.00. Following the acquisition, the director now owns 76,794 shares in the company, valued at approximately $1,400,722.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher H. Volk purchased 5,650 shares of Store Capital stock in a transaction on Thursday, May 14th. The stock was bought at an average price of $17.64 per share, for a total transaction of $99,666.00. Following the completion of the acquisition, the chief executive officer now owns 519,831 shares in the company, valued at approximately $9,169,818.84. The disclosure for this purchase can be found here. Insiders have bought a total of 14,450 shares of company stock worth $265,034 over the last 90 days. Insiders own 0.84% of the company’s stock.

Several large investors have recently modified their holdings of STOR. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Store Capital by 1.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 135,188 shares of the real estate investment trust’s stock worth $4,529,000 after purchasing an additional 2,307 shares during the period. Rockefeller Capital Management L.P. boosted its stake in shares of Store Capital by 132.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,184 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 675 shares during the period. Global Financial Private Capital Inc purchased a new position in shares of Store Capital during the 4th quarter worth about $1,293,000. Envestnet Asset Management Inc. boosted its stake in shares of Store Capital by 18.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 244,692 shares of the real estate investment trust’s stock worth $9,112,000 after purchasing an additional 37,446 shares during the period. Finally, Prudential Financial Inc. boosted its stake in shares of Store Capital by 59.1% during the 4th quarter. Prudential Financial Inc. now owns 530,040 shares of the real estate investment trust’s stock worth $19,738,000 after purchasing an additional 196,862 shares during the period. 92.29% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Store Capital (NYSE:STOR)

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