Duff & Phelps Investment Management Co. acquired a new stake in shares of Store Capital Corp (NYSE:STOR) during the second quarter, HoldingsChannel reports. The firm acquired 1,406,700 shares of the real estate investment trust’s stock, valued at approximately $46,688,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Store Capital by 2.1% during the first quarter. BlackRock Inc. now owns 13,720,349 shares of the real estate investment trust’s stock valued at $459,631,000 after acquiring an additional 286,783 shares during the period. Principal Financial Group Inc. lifted its stake in Store Capital by 6.7% in the first quarter. Principal Financial Group Inc. now owns 11,257,558 shares of the real estate investment trust’s stock valued at $377,128,000 after buying an additional 709,125 shares during the period. Dimensional Fund Advisors LP lifted its stake in Store Capital by 8.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,922,787 shares of the real estate investment trust’s stock valued at $82,746,000 after buying an additional 229,754 shares during the period. Geode Capital Management LLC lifted its stake in Store Capital by 26.2% in the fourth quarter. Geode Capital Management LLC now owns 1,935,183 shares of the real estate investment trust’s stock valued at $54,785,000 after buying an additional 401,416 shares during the period. Finally, Barings LLC lifted its stake in Store Capital by 13.8% in the first quarter. Barings LLC now owns 1,352,190 shares of the real estate investment trust’s stock valued at $45,298,000 after buying an additional 163,788 shares during the period. Institutional investors and hedge funds own 90.92% of the company’s stock.
STOR has been the topic of several analyst reports. Morgan Stanley increased their target price on Store Capital from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Berenberg Bank initiated coverage on Store Capital in a research note on Tuesday, April 23rd. They issued a “buy” rating and a $36.00 target price on the stock. Zacks Investment Research lowered Store Capital from a “buy” rating to a “hold” rating in a research note on Wednesday. ValuEngine lowered Store Capital from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, BMO Capital Markets restated a “buy” rating and issued a $35.00 price target on shares of Store Capital in a report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $36.14.
Store Capital (NYSE:STOR) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.17). Store Capital had a return on equity of 5.73% and a net margin of 36.14%. The business had revenue of $163.80 million during the quarter, compared to the consensus estimate of $162.18 million. During the same quarter last year, the company earned $0.46 earnings per share. The firm’s revenue was up 24.8% compared to the same quarter last year. Equities analysts expect that Store Capital Corp will post 1.9 EPS for the current year.
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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