BlackRock Fund Advisors boosted its position in Store Capital Corp. (NYSE:STOR) by 58.3% during the third quarter, Holdings Channel reports. The firm owned 2,363,183 shares of the company’s stock after buying an additional 870,782 shares during the period. BlackRock Fund Advisors’ holdings in Store Capital Corp. were worth $69,643,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its position in Store Capital Corp. by 7.6% in the second quarter. FMR LLC now owns 22,738,070 shares of the company’s stock worth $669,636,000 after buying an additional 1,606,162 shares in the last quarter. Vanguard Group Inc. increased its position in Store Capital Corp. by 12.3% in the second quarter. Vanguard Group Inc. now owns 22,596,837 shares of the company’s stock worth $665,477,000 after buying an additional 2,478,968 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Store Capital Corp. by 21.5% in the third quarter. Daiwa Securities Group Inc. now owns 6,359,328 shares of the company’s stock worth $187,409,000 after buying an additional 1,124,054 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Store Capital Corp. by 187.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,951,408 shares of the company’s stock worth $175,268,000 after buying an additional 3,880,614 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in Store Capital Corp. by 71.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,866,019 shares of the company’s stock worth $143,304,000 after buying an additional 2,027,383 shares in the last quarter.
Store Capital Corp. (NYSE:STOR) opened at 25.66 on Thursday. The company has a market capitalization of $3.98 billion, a PE ratio of 32.00 and a beta of 0.26. Store Capital Corp. has a 12-month low of $22.51 and a 12-month high of $31.44. The firm has a 50-day moving average of $24.72 and a 200 day moving average of $27.58.
Store Capital Corp. (NYSE:STOR) last posted its earnings results on Thursday, November 3rd. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by $0.01. The business had revenue of $97 million for the quarter, compared to the consensus estimate of $53.01 million. Store Capital Corp. had a return on equity of 5.22% and a net margin of 33.05%. The company’s revenue was up 29.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 earnings per share. Analysts forecast that Store Capital Corp. will post $0.78 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.52%. The ex-dividend date was Wednesday, December 28th. Store Capital Corp.’s payout ratio is presently 143.21%.
A number of equities analysts have recently commented on the stock. Mizuho assumed coverage on shares of Store Capital Corp. in a research note on Thursday, October 13th. They set a “buy” rating and a $30.50 price objective for the company. Zacks Investment Research upgraded shares of Store Capital Corp. from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Tuesday, October 18th. Wunderlich cut their target price on shares of Store Capital Corp. from $34.00 to $29.50 and set a “buy” rating for the company in a research note on Friday, November 4th. BMO Capital Markets set a $28.00 target price on shares of Store Capital Corp. and gave the company a “buy” rating in a research note on Thursday, January 12th. Finally, Morgan Stanley downgraded shares of Store Capital Corp. from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. Store Capital Corp. presently has an average rating of “Buy” and a consensus price target of $30.54.
In other Store Capital Corp. news, Director Joseph M. Donovan bought 4,350 shares of the firm’s stock in a transaction dated Thursday, December 1st. The stock was bought at an average cost of $24.15 per share, with a total value of $105,052.50. Following the completion of the transaction, the director now directly owns 30,694 shares in the company, valued at approximately $741,260.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.05% of the company’s stock.
About Store Capital Corp.
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. The Company’s portfolio includes investments in approximately 1,330 property locations operated by over 300 customers across approximately 50 states.
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