Amundi Pioneer Asset Management Inc. lifted its stake in STORE Capital (NYSE:STOR) by 138.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 213,955 shares of the real estate investment trust’s stock after buying an additional 124,055 shares during the quarter. Amundi Pioneer Asset Management Inc. owned approximately 0.11% of STORE Capital worth $5,572,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in shares of STORE Capital by 8.3% in the second quarter. The Manufacturers Life Insurance Company now owns 5,356 shares of the real estate investment trust’s stock worth $120,000 after buying an additional 409 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of STORE Capital in the fourth quarter worth about $201,000. Prudential Financial Inc. purchased a new stake in shares of STORE Capital in the third quarter worth about $216,000. Stephens Inc. AR purchased a new stake in shares of STORE Capital in the third quarter worth about $220,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of STORE Capital by 61.8% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,840 shares of the real estate investment trust’s stock worth $220,000 after buying an additional 3,378 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.
In related news, insider Christopher H. Volk purchased 4,250 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average price of $23.64 per share, with a total value of $100,470.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Catherine F. Long purchased 4,225 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average cost of $23.70 per share, with a total value of $100,132.50. The disclosure for this purchase can be found here. Insiders have acquired 12,475 shares of company stock valued at $295,603 in the last three months. Insiders own 0.90% of the company’s stock.
Shares of STORE Capital stock traded down $0.67 during mid-day trading on Thursday, reaching $24.51. 1,421,820 shares of the stock traded hands, compared to its average volume of 1,803,114. STORE Capital has a fifty-two week low of $19.65 and a fifty-two week high of $26.58. The stock has a market capitalization of $4,868.76, a P/E ratio of 14.33, a PEG ratio of 2.86 and a beta of 0.12. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.57 and a quick ratio of 0.57.
STORE Capital (NYSE:STOR) last announced its earnings results on Thursday, February 22nd. The real estate investment trust reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. STORE Capital had a return on equity of 5.35% and a net margin of 36.27%. The business had revenue of $120.10 million during the quarter, compared to analysts’ expectations of $114.90 million. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The business’s revenue was up 17.6% compared to the same quarter last year. research analysts anticipate that STORE Capital will post 1.75 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 30th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.06%. STORE Capital’s payout ratio is currently 72.51%.
A number of brokerages have recently commented on STOR. ValuEngine downgraded STORE Capital from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Capital One Financial reiterated an “overweight” rating on shares of STORE Capital in a research report on Wednesday, March 14th. Zacks Investment Research upgraded STORE Capital from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. B. Riley set a $26.00 price target on STORE Capital and gave the stock a “hold” rating in a research report on Friday, February 23rd. Finally, Robert W. Baird reiterated a “buy” rating on shares of STORE Capital in a research report on Tuesday, February 27th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $26.91.
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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 1,921 property locations, substantially all of which are profit centers, in 48 states.
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