Store Capital (NYSE:STOR) Price Target Raised to $39.00

Store Capital (NYSE:STOR) had its target price lifted by Morgan Stanley from $36.00 to $39.00 in a research note published on Tuesday, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the real estate investment trust’s stock.

Several other equities analysts also recently weighed in on STOR. BMO Capital Markets reiterated a buy rating and issued a $35.00 price target on shares of Store Capital in a report on Monday, August 5th. ValuEngine downgraded shares of Store Capital from a buy rating to a hold rating in a report on Thursday, August 1st. Zacks Investment Research downgraded shares of Store Capital from a buy rating to a hold rating in a report on Wednesday, August 14th. Deutsche Bank started coverage on shares of Store Capital in a report on Tuesday, August 27th. They issued a buy rating and a $40.00 price target on the stock. Finally, Raymond James set a $39.00 price target on shares of Store Capital and gave the stock a buy rating in a report on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Store Capital has an average rating of Buy and an average target price of $37.38.

Shares of Store Capital stock opened at $37.28 on Tuesday. The firm has a market capitalization of $8.44 billion, a P/E ratio of 20.26, a PEG ratio of 3.92 and a beta of 0.18. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.52. The company has a 50 day moving average price of $36.52 and a 200 day moving average price of $34.36. Store Capital has a 52 week low of $26.93 and a 52 week high of $38.76.

Store Capital (NYSE:STOR) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.17). The company had revenue of $163.80 million during the quarter, compared to analysts’ expectations of $162.18 million. Store Capital had a net margin of 36.14% and a return on equity of 5.73%. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 earnings per share. As a group, research analysts anticipate that Store Capital will post 1.9 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.76%. The ex-dividend date is Friday, September 27th. This is an increase from Store Capital’s previous quarterly dividend of $0.33. Store Capital’s dividend payout ratio is 71.74%.

In other news, Director Joseph M. Donovan acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average price of $36.11 per share, with a total value of $72,220.00. Following the purchase, the director now directly owns 55,794 shares of the company’s stock, valued at $2,014,721.34. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.84% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. World Asset Management Inc lifted its position in shares of Store Capital by 4.3% during the 2nd quarter. World Asset Management Inc now owns 7,511 shares of the real estate investment trust’s stock valued at $249,000 after buying an additional 309 shares in the last quarter. Cetera Advisor Networks LLC lifted its position in shares of Store Capital by 3.0% during the 2nd quarter. Cetera Advisor Networks LLC now owns 11,644 shares of the real estate investment trust’s stock valued at $389,000 after buying an additional 334 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Store Capital by 2.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 13,979 shares of the real estate investment trust’s stock valued at $463,000 after buying an additional 375 shares in the last quarter. United Services Automobile Association lifted its position in shares of Store Capital by 1.0% during the 2nd quarter. United Services Automobile Association now owns 43,593 shares of the real estate investment trust’s stock valued at $1,447,000 after buying an additional 449 shares in the last quarter. Finally, United Capital Financial Advisers LLC lifted its position in shares of Store Capital by 6.8% during the 2nd quarter. United Capital Financial Advisers LLC now owns 7,556 shares of the real estate investment trust’s stock valued at $251,000 after buying an additional 480 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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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