Eaton Vance Management raised its stake in STORE Capital Corporation (NYSE:STOR) by 1,275.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 251,999 shares of the real estate investment trust’s stock after purchasing an additional 233,672 shares during the quarter. Eaton Vance Management owned about 0.15% of STORE Capital Corporation worth $5,657,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Penserra Capital Management LLC raised its stake in shares of STORE Capital Corporation by 19.9% in the 2nd quarter. Penserra Capital Management LLC now owns 4,530 shares of the real estate investment trust’s stock valued at $101,000 after acquiring an additional 752 shares during the period. Public Employees Retirement Association of Colorado raised its stake in shares of STORE Capital Corporation by 12.1% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 5,363 shares of the real estate investment trust’s stock valued at $120,000 after acquiring an additional 580 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of STORE Capital Corporation by 12.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,675 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 619 shares during the period. Ffcm LLC raised its stake in shares of STORE Capital Corporation by 304.0% in the 2nd quarter. Ffcm LLC now owns 7,418 shares of the real estate investment trust’s stock valued at $171,000 after acquiring an additional 5,582 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of STORE Capital Corporation in the 1st quarter valued at $201,000.
STORE Capital Corporation (NYSE:STOR) opened at 25.92 on Friday. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 26.13 and a beta of 0.24. STORE Capital Corporation has a 12-month low of $19.65 and a 12-month high of $30.65. The stock has a 50 day moving average of $24.67 and a 200 day moving average of $23.13.
STORE Capital Corporation (NYSE:STOR) last announced its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). STORE Capital Corporation had a net margin of 38.71% and a return on equity of 5.98%. The business had revenue of $114.21 million during the quarter, compared to analyst estimates of $112.27 million. During the same quarter in the prior year, the company posted $0.38 EPS. The company’s quarterly revenue was up 24.2% compared to the same quarter last year. Equities research analysts anticipate that STORE Capital Corporation will post $0.87 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a $0.31 dividend. This is a boost from STORE Capital Corporation’s previous quarterly dividend of $0.29. The ex-dividend date is Thursday, September 28th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.78%. STORE Capital Corporation’s dividend payout ratio is currently 118.37%.
In other STORE Capital Corporation news, Director William Franklin Hipp acquired 4,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was bought at an average price of $25.18 per share, for a total transaction of $100,720.00. Following the purchase, the director now owns 18,499 shares in the company, valued at approximately $465,804.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.
A number of brokerages have recently commented on STOR. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of STORE Capital Corporation in a research note on Wednesday, August 16th. BidaskClub raised shares of STORE Capital Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 19th. Stifel Nicolaus reissued a “buy” rating and issued a $25.50 target price on shares of STORE Capital Corporation in a research note on Friday, July 14th. TheStreet raised shares of STORE Capital Corporation from a “c” rating to a “b-” rating in a research note on Thursday, August 3rd. Finally, FBR & Co began coverage on shares of STORE Capital Corporation in a research note on Monday, July 17th. They issued a “market perform” rating and a $24.00 target price on the stock. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $27.59.
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About STORE Capital Corporation
STORE Capital Corporation is an internally managed net-lease real estate investment trust. The Company is engaged in the acquisition, investment and management of single tenant operational real estate (STORE) properties. As of December 31, 2016, the Company owned a portfolio that consisted of investments in 1,660 property locations operated by 360 customers across 48 states.
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