Wall Street analysts expect Store Capital Corp (NYSE:STOR) to report earnings of $0.46 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Store Capital’s earnings, with the lowest EPS estimate coming in at $0.45 and the highest estimate coming in at $0.46. Store Capital reported earnings of $0.41 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.2%. The firm is expected to issue its next quarterly earnings report on Thursday, November 1st.
According to Zacks, analysts expect that Store Capital will report full-year earnings of $1.81 per share for the current year, with EPS estimates ranging from $1.80 to $1.82. For the next fiscal year, analysts expect that the firm will report earnings of $1.91 per share, with EPS estimates ranging from $1.88 to $1.93. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Store Capital.
Store Capital (NYSE:STOR) last released its quarterly earnings data on Thursday, August 2nd. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.13). Store Capital had a net margin of 37.26% and a return on equity of 5.60%. The business had revenue of $131.20 million for the quarter, compared to the consensus estimate of $132.13 million. During the same quarter last year, the firm earned $0.42 EPS. The company’s revenue for the quarter was up 14.9% on a year-over-year basis.
Several equities analysts have recently weighed in on the company. Zacks Investment Research cut Store Capital from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Janney Montgomery Scott cut Store Capital from a “buy” rating to a “neutral” rating in a report on Friday, July 13th. Stifel Nicolaus reiterated a “buy” rating and set a $29.00 price objective on shares of Store Capital in a report on Sunday, July 15th. BMO Capital Markets began coverage on Store Capital in a research note on Tuesday, September 18th. They issued a “buy” rating and a $32.00 target price on the stock. Finally, Morgan Stanley upgraded Store Capital from an “equal weight” rating to an “overweight” rating and set a $31.00 target price on the stock in a research note on Monday, October 1st. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Store Capital presently has a consensus rating of “Buy” and a consensus target price of $29.00.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in Store Capital by 0.4% in the 2nd quarter. FMR LLC now owns 21,616,266 shares of the real estate investment trust’s stock valued at $592,287,000 after acquiring an additional 80,498 shares in the last quarter. BlackRock Inc. raised its stake in shares of Store Capital by 5.6% during the 2nd quarter. BlackRock Inc. now owns 12,089,275 shares of the real estate investment trust’s stock worth $331,247,000 after purchasing an additional 642,883 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Store Capital by 17.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 11,583,058 shares of the real estate investment trust’s stock worth $317,376,000 after purchasing an additional 1,711,289 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Store Capital by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,648,579 shares of the real estate investment trust’s stock worth $72,570,000 after purchasing an additional 29,687 shares in the last quarter. Finally, Centersquare Investment Management LLC raised its stake in shares of Store Capital by 27.0% during the 2nd quarter. Centersquare Investment Management LLC now owns 2,051,424 shares of the real estate investment trust’s stock worth $56,209,000 after purchasing an additional 435,959 shares in the last quarter. Hedge funds and other institutional investors own 93.86% of the company’s stock.
Shares of NYSE:STOR traded up $0.08 during trading on Wednesday, hitting $28.37. 2,775,800 shares of the company’s stock traded hands, compared to its average volume of 1,546,433. Store Capital has a 52 week low of $22.51 and a 52 week high of $29.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $5.71 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 3.18 and a beta of 0.15.
The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were paid a $0.33 dividend. This is a boost from Store Capital’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $1.32 annualized dividend and a yield of 4.65%. Store Capital’s payout ratio is presently 77.19%.
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 2,084 property locations, substantially all of which are profit centers, in 49 states.
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