Store Capital (NYSE:STOR) Price Target Raised to $27.00

Store Capital (NYSE:STOR) had its target price lifted by Truist from $24.00 to $27.00 in a research note issued to investors on Friday, The Fly reports.

Several other equities research analysts have also commented on the company. Morgan Stanley upped their price objective on Store Capital from $22.00 to $24.00 and gave the stock an equal weight rating in a research report on Friday, August 21st. Jefferies Financial Group assumed coverage on Store Capital in a research report on Monday, June 29th. They issued a buy rating and a $31.00 price objective on the stock. Wells Fargo & Company upgraded Store Capital from an equal weight rating to an overweight rating in a research report on Thursday. ValuEngine upgraded Store Capital from a sell rating to a hold rating in a research report on Thursday, August 27th. Finally, Mizuho increased their target price on Store Capital from $17.00 to $24.00 in a research report on Tuesday, June 16th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Store Capital has a consensus rating of Hold and a consensus target price of $26.73.

Shares of NYSE STOR opened at $28.10 on Friday. The business’s 50 day moving average price is $26.48 and its 200 day moving average price is $22.75. The firm has a market cap of $6.87 billion, a P/E ratio of 24.43 and a beta of 0.97. Store Capital has a 52 week low of $13.00 and a 52 week high of $40.96. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.62.

Store Capital (NYSE:STOR) last issued its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.28). The firm had revenue of $168.30 million during the quarter, compared to analysts’ expectations of $163.81 million. Store Capital had a net margin of 39.73% and a return on equity of 6.06%. Store Capital’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 EPS. As a group, research analysts expect that Store Capital will post 1.85 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.12%. The ex-dividend date of this dividend is Tuesday, September 29th. This is a positive change from Store Capital’s previous quarterly dividend of $0.35. Store Capital’s dividend payout ratio (DPR) is 70.35%.

In related news, CFO Catherine F. Long bought 3,960 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were acquired at an average price of $25.23 per share, with a total value of $99,910.80. Following the completion of the acquisition, the chief financial officer now owns 266,669 shares in the company, valued at approximately $6,728,058.87. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.84% of the company’s stock.

Several large investors have recently added to or reduced their stakes in STOR. Heritage Wealth Advisors increased its holdings in shares of Store Capital by 660.8% in the second quarter. Heritage Wealth Advisors now owns 8,369 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 7,269 shares during the period. WASHINGTON TRUST Co boosted its holdings in Store Capital by 89.2% in the second quarter. WASHINGTON TRUST Co now owns 1,510 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 712 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in Store Capital in the second quarter valued at about $36,000. FDx Advisors Inc. boosted its holdings in Store Capital by 202.8% in the first quarter. FDx Advisors Inc. now owns 31,000 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 20,763 shares during the last quarter. Finally, SRS Capital Advisors Inc. boosted its holdings in Store Capital by 42.2% in the second quarter. SRS Capital Advisors Inc. now owns 1,833 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 544 shares during the last quarter. 94.25% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also: Example of operating income, EBIT and EBITDA

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