Nisa Investment Advisors LLC boosted its stake in shares of Store Capital Corp (NYSE:STOR) by 43.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,215 shares of the real estate investment trust’s stock after buying an additional 26,664 shares during the period. Nisa Investment Advisors LLC’s holdings in Store Capital were worth $2,100,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Principal Financial Group Inc. increased its position in Store Capital by 26.6% during the 1st quarter. Principal Financial Group Inc. now owns 17,141,160 shares of the real estate investment trust’s stock valued at $310,589,000 after buying an additional 3,606,661 shares in the last quarter. BlackRock Inc. increased its position in Store Capital by 1.0% during the 1st quarter. BlackRock Inc. now owns 14,449,189 shares of the real estate investment trust’s stock valued at $261,819,000 after buying an additional 148,738 shares in the last quarter. Cohen & Steers Inc. increased its position in Store Capital by 173.4% during the 1st quarter. Cohen & Steers Inc. now owns 12,329,466 shares of the real estate investment trust’s stock valued at $223,410,000 after buying an additional 7,819,499 shares in the last quarter. PGGM Investments increased its position in Store Capital by 30.8% during the 1st quarter. PGGM Investments now owns 10,733,787 shares of the real estate investment trust’s stock valued at $194,496,000 after buying an additional 2,525,000 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Store Capital by 4.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,103,549 shares of the real estate investment trust’s stock valued at $183,076,000 after buying an additional 397,924 shares in the last quarter. 91.43% of the stock is owned by institutional investors.
Shares of Store Capital stock opened at $23.69 on Friday. Store Capital Corp has a one year low of $13.00 and a one year high of $40.96. The stock’s fifty day moving average is $23.37 and its 200 day moving average is $25.64. The stock has a market cap of $5.79 billion, a P/E ratio of 18.36 and a beta of 0.95. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.89 and a current ratio of 0.89.
Store Capital (NYSE:STOR) last announced its earnings results on Tuesday, May 5th. The real estate investment trust reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.23). Store Capital had a return on equity of 6.90% and a net margin of 43.97%. The company had revenue of $177.90 million during the quarter, compared to the consensus estimate of $178.41 million. During the same period in the prior year, the business posted $0.48 earnings per share. Store Capital’s revenue for the quarter was up 13.6% compared to the same quarter last year. Analysts predict that Store Capital Corp will post 1.85 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $1.40 dividend on an annualized basis and a yield of 5.91%. Store Capital’s dividend payout ratio is currently 70.35%.
Several analysts have commented on STOR shares. ValuEngine upgraded Store Capital from a “sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Wells Fargo & Co increased their target price on Store Capital from $19.00 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday, June 18th. Jefferies Financial Group started coverage on Store Capital in a research note on Monday, June 29th. They set a “buy” rating and a $31.00 target price on the stock. Mizuho increased their target price on Store Capital from $17.00 to $24.00 in a research note on Tuesday, June 16th. Finally, TheStreet downgraded Store Capital from a “b-” rating to a “c+” rating in a research note on Monday, July 20th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $28.00.
In other Store Capital news, CEO Christopher H. Volk purchased 5,650 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were acquired at an average cost of $17.64 per share, with a total value of $99,666.00. Following the completion of the acquisition, the chief executive officer now directly owns 519,831 shares in the company, valued at $9,169,818.84. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph M. Donovan purchased 8,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were acquired at an average cost of $18.24 per share, for a total transaction of $145,920.00. Following the completion of the acquisition, the director now owns 76,794 shares of the company’s stock, valued at $1,400,722.56. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 14,450 shares of company stock worth $265,034. 0.84% of the stock is owned by insiders.
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.
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