STORE Capital (NYSE:STOR) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of STORE Capital (NYSE:STOR) from a buy rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

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. “

A number of other analysts have also recently weighed in on the stock. Raymond James cut shares of STORE Capital from an outperform rating to a market perform rating in a report on Wednesday, August 18th. Mizuho raised their target price on shares of STORE Capital from $36.00 to $37.00 and gave the stock a neutral rating in a report on Tuesday, August 24th. Finally, BMO Capital Markets initiated coverage on shares of STORE Capital in a report on Thursday, August 5th. They set a hold rating and a $33.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $35.90.

Shares of STOR stock opened at $34.26 on Wednesday. The company has a market capitalization of $9.34 billion, a PE ratio of 36.84 and a beta of 1.21. The firm has a fifty day simple moving average of $33.96 and a 200-day simple moving average of $34.85. The company has a current ratio of 0.44, a quick ratio of 0.58 and a debt-to-equity ratio of 0.51. STORE Capital has a twelve month low of $30.02 and a twelve month high of $37.13.

STORE Capital (NYSE:STOR) last posted its quarterly earnings data on Thursday, November 4th. The real estate investment trust reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.21). STORE Capital had a net margin of 33.24% and a return on equity of 4.71%. The company had revenue of $199.13 million for the quarter, compared to the consensus estimate of $199.33 million. During the same quarter last year, the company earned $0.46 earnings per share. The company’s revenue was up 13.6% compared to the same quarter last year. Equities research analysts predict that STORE Capital will post 1.88 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 15th. Investors of record on Thursday, September 30th were paid a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a yield of 4.50%. This is a boost from STORE Capital’s previous quarterly dividend of $0.36. The ex-dividend date was Wednesday, September 29th. STORE Capital’s dividend payout ratio is presently 165.59%.

In related news, Director Joseph M. Donovan sold 5,000 shares of the stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $35.92, for a total transaction of $179,600.00. Following the completion of the sale, the director now directly owns 80,581 shares of the company’s stock, valued at approximately $2,894,469.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.88% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Heritage Wealth Advisors increased its stake in STORE Capital by 21.2% during the 2nd quarter. Heritage Wealth Advisors now owns 1,575 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 275 shares in the last quarter. AdvisorNet Financial Inc grew its stake in shares of STORE Capital by 49.8% during the 3rd quarter. AdvisorNet Financial Inc now owns 959 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 319 shares in the last quarter. Signaturefd LLC grew its stake in shares of STORE Capital by 16.9% during the 3rd quarter. Signaturefd LLC now owns 2,512 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 363 shares in the last quarter. Bruni J V & Co. Co. grew its stake in shares of STORE Capital by 0.6% during the 2nd quarter. Bruni J V & Co. Co. now owns 61,701 shares of the real estate investment trust’s stock worth $2,129,000 after acquiring an additional 375 shares in the last quarter. Finally, Natixis Advisors L.P. grew its stake in shares of STORE Capital by 1.1% during the 2nd quarter. Natixis Advisors L.P. now owns 35,651 shares of the real estate investment trust’s stock worth $1,230,000 after acquiring an additional 397 shares in the last quarter. 85.17% of the stock is owned by institutional investors and hedge funds.

STORE Capital Company Profile

STORE Capital Corp. operates as an internally managed net-lease real estate investment trust. The firm engages in the acquisition, investment, management, and ownership of single tenant operational real estate properties. The company was founded by Mary Fedewa, Morton H. Fleischer, Christopher H. Volk, Catherine Long, Michael J.

Featured Story: What are catch-up contributions?

Get a free copy of the Zacks research report on STORE Capital (STOR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for STORE Capital (NYSE:STOR)

Receive News & Ratings for STORE Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for STORE Capital and related companies with MarketBeat.com's FREE daily email newsletter.