Store Capital Corp (NYSE:STOR) Plans Quarterly Dividend of $0.36

Store Capital Corp (NYSE:STOR) announced a quarterly dividend on Tuesday, September 15th, Zacks reports. Investors of record on Wednesday, September 30th will be paid a dividend of 0.36 per share by the real estate investment trust on Thursday, October 15th. This represents a $1.44 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date is Tuesday, September 29th. This is a positive change from Store Capital’s previous quarterly dividend of $0.35.

Store Capital has increased its dividend payment by 21.4% over the last three years and has raised its dividend annually for the last 5 consecutive years.

Shares of Store Capital stock traded up $0.12 during trading hours on Wednesday, reaching $29.62. 2,356 shares of the company’s stock were exchanged, compared to its average volume of 4,022,564. Store Capital has a 52-week low of $13.00 and a 52-week high of $40.96. The company has a fifty day moving average of $26.14 and a 200-day moving average of $22.82. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $7.21 billion, a price-to-earnings ratio of 25.65 and a beta of 0.97.

Store Capital (NYSE:STOR) last released its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.28). The business had revenue of $168.30 million for the quarter, compared to analysts’ expectations of $163.81 million. Store Capital had a return on equity of 6.06% and a net margin of 39.73%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.50 earnings per share. On average, equities research analysts anticipate that Store Capital will post 1.85 earnings per share for the current fiscal year.

In other news, CFO Catherine F. Long bought 3,960 shares of Store Capital stock in a transaction dated Wednesday, August 19th. The shares were acquired at an average cost of $25.23 per share, with a total value of $99,910.80. Following the completion of the transaction, the chief financial officer now owns 266,669 shares in the company, valued at approximately $6,728,058.87. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.84% of the company’s stock.

A number of equities research analysts recently issued reports on STOR shares. Raymond James lowered their target price on shares of Store Capital from $42.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, May 20th. Wells Fargo & Company increased their target price on Store Capital from $19.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 18th. Morgan Stanley lifted their target price on Store Capital from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Friday, August 21st. Jefferies Financial Group initiated coverage on Store Capital in a research note on Monday, June 29th. They set a “buy” rating and a $31.00 price target for the company. Finally, TheStreet lowered Store Capital from a “b-” rating to a “c+” rating in a research note on Monday, July 20th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $26.70.

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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Dividend History for Store Capital (NYSE:STOR)

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