LPL Financial LLC raised its stake in Store Capital Corp (NYSE:STOR) by 6.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 133,029 shares of the real estate investment trust’s stock after purchasing an additional 8,006 shares during the period. LPL Financial LLC’s holdings in Store Capital were worth $4,415,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of STOR. Advisory Services Network LLC boosted its position in shares of Store Capital by 100.0% during the 1st quarter. Advisory Services Network LLC now owns 1,000 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 500 shares in the last quarter. Parallel Advisors LLC grew its holdings in Store Capital by 2,702.7% during the first quarter. Parallel Advisors LLC now owns 1,037 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 1,000 shares during the period. Heritage Wealth Advisors increased its position in Store Capital by 120.0% in the second quarter. Heritage Wealth Advisors now owns 1,100 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 600 shares in the last quarter. SRS Capital Advisors Inc. purchased a new stake in Store Capital in the second quarter worth about $44,000. Finally, Advisory Alpha LLC bought a new position in shares of Store Capital in the first quarter worth about $57,000. 90.95% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:STOR traded down $0.17 during trading on Wednesday, hitting $36.06. 46,601 shares of the company’s stock were exchanged, compared to its average volume of 1,349,074. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.35 and a quick ratio of 0.35. Store Capital Corp has a 52-week low of $26.93 and a 52-week high of $38.76. The business’s 50-day simple moving average is $36.14 and its 200 day simple moving average is $34.20. The company has a market cap of $8.19 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 3.91 and a beta of 0.18.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.40 annualized dividend and a dividend yield of 3.88%. This is a boost from Store Capital’s previous quarterly dividend of $0.33. Store Capital’s dividend payout ratio (DPR) is presently 71.74%.
A number of research firms have recently weighed in on STOR. Deutsche Bank began coverage on Store Capital in a research report on Tuesday, August 27th. They set a “buy” rating and a $40.00 price objective on the stock. Morgan Stanley raised their target price on shares of Store Capital from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. BMO Capital Markets reaffirmed a “buy” rating and set a $35.00 price target on shares of Store Capital in a report on Monday, August 5th. Zacks Investment Research lowered shares of Store Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, ValuEngine cut shares of Store Capital from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Store Capital presently has a consensus rating of “Buy” and an average target price of $37.00.
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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