CI Global Investments Inc. cut its holdings in shares of STORE Capital Corporation (NYSE:STOR) by 25.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,546,046 shares of the real estate investment trust’s stock after selling 3,198,908 shares during the period. STORE Capital Corporation makes up approximately 4.8% of CI Global Investments Inc.’s investment portfolio, making the stock its 7th largest holding. CI Global Investments Inc. owned 5.02% of STORE Capital Corporation worth $237,410,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Berkshire Hathaway Inc. bought a new stake in shares of STORE Capital Corporation in the second quarter valued at about $418,057,000. American Century Companies Inc. lifted its holdings in shares of STORE Capital Corporation by 34.1% in the second quarter. American Century Companies Inc. now owns 737,678 shares of the real estate investment trust’s stock valued at $16,561,000 after purchasing an additional 187,680 shares in the last quarter. Dubuque Bank & Trust Co. bought a new stake in shares of STORE Capital Corporation in the second quarter valued at about $1,957,000. State Street Corp lifted its holdings in shares of STORE Capital Corporation by 10.1% in the second quarter. State Street Corp now owns 3,217,856 shares of the real estate investment trust’s stock valued at $72,242,000 after purchasing an additional 295,070 shares in the last quarter. Finally, Loeb Partners Corp bought a new stake in shares of STORE Capital Corporation in the third quarter valued at about $373,000. Hedge funds and other institutional investors own 97.33% of the company’s stock.
STOR has been the topic of a number of research reports. BidaskClub upgraded STORE Capital Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 31st. FBR & Co assumed coverage on STORE Capital Corporation in a report on Monday, July 17th. They issued a “market perform” rating and a $24.00 price target on the stock. Robert W. Baird reaffirmed a “buy” rating on shares of STORE Capital Corporation in a research report on Friday, October 20th. Zacks Investment Research downgraded STORE Capital Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Finally, KeyCorp reaffirmed a “hold” rating on shares of STORE Capital Corporation in a research report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $27.09.
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Shares of STORE Capital Corporation (NYSE:STOR) traded up $0.22 during midday trading on Tuesday, reaching $26.17. The company’s stock had a trading volume of 1,226,400 shares, compared to its average volume of 1,818,621. The firm has a market capitalization of $4,930.91, a P/E ratio of 15.27, a PEG ratio of 3.21 and a beta of 0.22. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.59. STORE Capital Corporation has a 1 year low of $19.65 and a 1 year high of $26.35.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date was Thursday, September 28th. This is an increase from STORE Capital Corporation’s previous quarterly dividend of $0.29. STORE Capital Corporation’s payout ratio is 139.33%.
In other STORE Capital Corporation news, Director William Franklin Hipp purchased 4,000 shares of the stock in a transaction on Thursday, August 17th. The shares were purchased at an average price of $25.18 per share, with a total value of $100,720.00. Following the completion of the transaction, the director now directly owns 18,499 shares in the company, valued at $465,804.82. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by insiders.
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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