Store Capital Corp. (STOR) Upgraded to Buy by Zacks Investment Research
Store Capital Corp. (NYSE:STOR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $32.00 price target on the stock. Zacks Investment Research’s price target would indicate a potential upside of 13.60% from the company’s previous close.
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. “
STOR has been the subject of several other research reports. Credit Suisse Group AG reissued a “sell” rating and set a $30.00 price objective on shares of Store Capital Corp. in a research report on Monday, August 29th. BTIG Research initiated coverage on Store Capital Corp. in a report on Thursday, August 25th. They issued a “buy” rating and a $35.00 price target for the company. Mizuho initiated coverage on Store Capital Corp. in a report on Thursday, October 13th. They issued a “buy” rating and a $30.50 price target for the company. Stifel Nicolaus upped their price target on Store Capital Corp. from $29.00 to $31.50 and gave the company a “buy” rating in a report on Monday, July 11th. Finally, KeyCorp raised Store Capital Corp. from a “sector weight” rating to an “overweight” rating and set a $35.00 price target for the company in a report on Thursday, July 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $29.89.
Store Capital Corp. (NYSE:STOR) opened at 28.17 on Tuesday. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of 37.66 and a beta of 0.34. Store Capital Corp. has a 52-week low of $21.19 and a 52-week high of $31.44. The company’s 50-day moving average price is $29.00 and its 200-day moving average price is $28.03.
Store Capital Corp. (NYSE:STOR) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. Store Capital Corp. had a return on equity of 4.97% and a net margin of 31.21%. The business earned $92 million during the quarter, compared to analysts’ expectations of $86.58 million. During the same quarter in the previous year, the firm earned $0.36 EPS. The firm’s revenue was up 33.5% compared to the same quarter last year. Analysts predict that Store Capital Corp. will post $1.56 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 17th. Investors of record on Friday, September 30th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, September 28th. This is a positive change from Store Capital Corp.’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 4.12%. Store Capital Corp.’s dividend payout ratio is 154.67%.
A number of large investors have recently added to or reduced their stakes in STOR. Duff & Phelps Investment Management Co. raised its stake in Store Capital Corp. by 22.0% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,218,768 shares of the company’s stock worth $65,387,000 after buying an additional 400,013 shares during the period. Fox Run Management L.L.C. acquired a new stake in Store Capital Corp. during the third quarter worth approximately $295,000. Eagle Asset Management Inc. acquired a new stake in Store Capital Corp. during the third quarter worth approximately $1,985,000. Macquarie Group Ltd. raised its stake in Store Capital Corp. by 2.1% in the second quarter. Macquarie Group Ltd. now owns 956,732 shares of the company’s stock worth $28,176,000 after buying an additional 19,432 shares during the period. Finally, Nomura Holdings Inc. acquired a new stake in Store Capital Corp. during the second quarter worth approximately $225,000.
Store Capital Corp. Company Profile
STORE Capital Corporation is an internally managed net-lease real estate investment trust. The Company is engaged in the acquisition, investment and management of single tenant operational real estate (STORE) Properties. The Company’s portfolio includes investments in approximately 1,330 property locations operated by over 300 customers across approximately 50 states.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Store Capital Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Store Capital Corp. and related companies with MarketBeat.com's FREE daily email newsletter.