Zacks Investment Research downgraded shares of STORE Capital Corporation (NYSE:STOR) from a hold rating to a sell rating in a report released on Wednesday morning.
According to Zacks, “STORE Capital Corporation is an internally managed net-lease real estate investment trust. It is engaged in the acquisition, investment and management of Single Tenant Operational Real Estate (STORE properties). The Company provides net-lease solutions principally to middle-market and larger companies that own STORE Properties. It invests in single-tenant real estate such as chain restaurants, supermarkets, health clubs, and education, retail, service, and distribution facilities. STORE Capital Corporation is based in Scottsdale, Arizona. “
Several other brokerages also recently commented on STOR. BidaskClub upgraded shares of STORE Capital Corporation from a sell rating to a hold rating in a research report on Tuesday, November 7th. Ladenburg Thalmann Financial Services restated a hold rating on shares of STORE Capital Corporation in a research report on Monday, November 6th. Robert W. Baird reaffirmed a buy rating on shares of STORE Capital Corporation in a research note on Friday, October 20th. Stifel Nicolaus raised their target price on shares of STORE Capital Corporation from $25.00 to $27.00 and gave the company a buy rating in a research note on Monday, October 16th. Finally, KeyCorp reaffirmed a hold rating on shares of STORE Capital Corporation in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. STORE Capital Corporation presently has an average rating of Hold and an average target price of $27.09.
Shares of STORE Capital Corporation (NYSE:STOR) traded up $0.01 during mid-day trading on Wednesday, hitting $25.95. 810,700 shares of the stock traded hands, compared to its average volume of 1,734,830. The company has a market cap of $4,930.92, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 3.20 and a beta of 0.22. STORE Capital Corporation has a 12-month low of $19.65 and a 12-month high of $26.35. The company has a quick ratio of 1.32, a current ratio of 0.57 and a debt-to-equity ratio of 0.59.
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The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were paid a $0.31 dividend. This is a boost from STORE Capital Corporation’s previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date was Thursday, September 28th. STORE Capital Corporation’s dividend payout ratio (DPR) is presently 139.33%.
In other STORE Capital Corporation news, Director William Franklin Hipp acquired 4,000 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was acquired at an average cost of $25.18 per share, with a total value of $100,720.00. Following the purchase, the director now directly owns 18,499 shares of the company’s stock, valued at approximately $465,804.82. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.
Several large investors have recently modified their holdings of the business. Wells Fargo & Company MN grew its stake in shares of STORE Capital Corporation by 2.4% in the 3rd quarter. Wells Fargo & Company MN now owns 733,008 shares of the real estate investment trust’s stock worth $18,229,000 after buying an additional 17,145 shares in the last quarter. HGI Capital Management LLC boosted its stake in shares of STORE Capital Corporation by 63.1% during the 3rd quarter. HGI Capital Management LLC now owns 161,467 shares of the real estate investment trust’s stock worth $4,016,000 after purchasing an additional 62,491 shares during the period. Schroder Investment Management Group purchased a new position in shares of STORE Capital Corporation during the 3rd quarter worth about $517,000. Pegasus Partners Ltd. boosted its stake in shares of STORE Capital Corporation by 29.0% during the 3rd quarter. Pegasus Partners Ltd. now owns 171,339 shares of the real estate investment trust’s stock worth $4,261,000 after purchasing an additional 38,567 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of STORE Capital Corporation by 12.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 508,958 shares of the real estate investment trust’s stock worth $12,622,000 after purchasing an additional 55,773 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.
STORE Capital Corporation Company Profile
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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