Northpointe Capital LLC raised its position in Store Capital Corp (NYSE:STOR) by 8.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 134,845 shares of the real estate investment trust’s stock after purchasing an additional 9,988 shares during the period. Store Capital makes up 1.4% of Northpointe Capital LLC’s investment portfolio, making the stock its 24th biggest holding. Northpointe Capital LLC’s holdings in Store Capital were worth $4,517,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc raised its stake in shares of Store Capital by 3.9% in the 3rd quarter. Vanguard Group Inc now owns 25,788,353 shares of the real estate investment trust’s stock valued at $716,658,000 after purchasing an additional 965,052 shares during the period. BlackRock Inc. increased its position in shares of Store Capital by 3.0% in the fourth quarter. BlackRock Inc. now owns 13,433,566 shares of the real estate investment trust’s stock valued at $380,308,000 after acquiring an additional 392,372 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Store Capital by 3.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 12,359,692 shares of the real estate investment trust’s stock valued at $349,904,000 after acquiring an additional 436,334 shares during the last quarter. Deutsche Bank AG increased its position in shares of Store Capital by 40.2% in the fourth quarter. Deutsche Bank AG now owns 6,630,688 shares of the real estate investment trust’s stock valued at $187,711,000 after acquiring an additional 1,899,969 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Store Capital by 328.6% in the fourth quarter. Millennium Management LLC now owns 3,606,817 shares of the real estate investment trust’s stock valued at $102,109,000 after acquiring an additional 2,765,268 shares during the last quarter. 97.25% of the stock is currently owned by hedge funds and other institutional investors.
Store Capital stock traded down $0.42 during midday trading on Wednesday, reaching $31.64. 55,544 shares of the company’s stock were exchanged, compared to its average volume of 1,388,175. Store Capital Corp has a 52 week low of $24.04 and a 52 week high of $34.10. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a market capitalization of $6.76 billion, a P/E ratio of 17.26, a PEG ratio of 3.55 and a beta of 0.31.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Thursday, March 28th. Store Capital’s payout ratio is currently 71.74%.
A number of analysts recently issued reports on STOR shares. BMO Capital Markets set a $32.00 target price on Store Capital and gave the company a “buy” rating in a research report on Monday, January 14th. Zacks Investment Research raised Store Capital from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Tuesday, January 15th. Mizuho set a $34.00 price target on Store Capital and gave the stock a “buy” rating in a report on Wednesday, January 23rd. Raymond James set a $34.00 price target on Store Capital and gave the stock a “buy” rating in a report on Thursday, February 28th. Finally, BTIG Research lifted their price target on Store Capital to $37.00 and gave the stock a “buy” rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $32.86.
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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 2,255 property locations, substantially all of which are profit centers, in 49 states.
Further Reading: Hedge Funds – Risk or Reward?
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