Resolution Capital Ltd bought a new stake in Store Capital Corp (NYSE:STOR) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,541,030 shares of the real estate investment trust’s stock, valued at approximately $51,625,000. Store Capital comprises 1.7% of Resolution Capital Ltd’s investment portfolio, making the stock its 19th biggest position.
Several other institutional investors have also recently bought and sold shares of STOR. JPMorgan Chase & Co. grew its position in Store Capital by 61.2% during the third quarter. JPMorgan Chase & Co. now owns 2,686,801 shares of the real estate investment trust’s stock worth $74,667,000 after buying an additional 1,020,403 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Store Capital by 5.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,295,686 shares of the real estate investment trust’s stock valued at $36,006,000 after purchasing an additional 67,206 shares in the last quarter. Martingale Asset Management L P boosted its holdings in shares of Store Capital by 143.2% in the 3rd quarter. Martingale Asset Management L P now owns 117,713 shares of the real estate investment trust’s stock valued at $3,272,000 after purchasing an additional 69,305 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Store Capital in the 3rd quarter valued at $202,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Store Capital by 1.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,693,033 shares of the real estate investment trust’s stock valued at $74,836,000 after purchasing an additional 44,454 shares in the last quarter. 97.25% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on the company. BTIG Research increased their price target on Store Capital to $37.00 and gave the company a “buy” rating in a research note on Monday. Zacks Investment Research upgraded Store Capital from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Tuesday, January 15th. Mizuho set a $34.00 price target on Store Capital and gave the company a “buy” rating in a research note on Wednesday, January 23rd. Raymond James set a $34.00 price target on Store Capital and gave the company a “buy” rating in a research note on Thursday, February 28th. Finally, BMO Capital Markets set a $32.00 price target on Store Capital and gave the company a “buy” rating in a research note on Monday, January 14th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Store Capital presently has a consensus rating of “Buy” and a consensus price target of $32.86.
NYSE:STOR traded down $0.48 during trading hours on Wednesday, hitting $31.58. 69,508 shares of the company were exchanged, compared to its average volume of 1,388,175. The firm has a market cap of $6.76 billion, a P/E ratio of 17.20, a P/E/G ratio of 3.55 and a beta of 0.31. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.55. Store Capital Corp has a one year low of $24.04 and a one year high of $34.10.
Store Capital (NYSE:STOR) last announced its earnings results on Thursday, February 21st. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.18). The company had revenue of $146.70 million for the quarter, compared to the consensus estimate of $143.83 million. Store Capital had a return on equity of 6.25% and a net margin of 40.12%. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.43 earnings per share. As a group, equities research analysts expect that Store Capital Corp will post 1.88 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Thursday, March 28th. Store Capital’s dividend 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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