Pensionfund Sabic Buys 10,000 Shares of Store Capital Corp (STOR)
Pensionfund Sabic grew its stake in Store Capital Corp (NYSE:STOR) by 166.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,000 shares of the real estate investment trust’s stock after purchasing an additional 10,000 shares during the quarter. Pensionfund Sabic’s holdings in Store Capital were worth $536,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Altshuler Shaham Ltd bought a new stake in Store Capital during the fourth quarter worth $26,000. Pearl River Capital LLC bought a new stake in Store Capital during the fourth quarter worth $59,000. Bronfman E.L. Rothschild L.P. lifted its holdings in Store Capital by 40.5% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 3,530 shares of the real estate investment trust’s stock worth $100,000 after acquiring an additional 1,017 shares during the period. Enlightenment Research LLC bought a new stake in Store Capital during the fourth quarter worth $113,000. Finally, SevenBridge Financial Group LLC bought a new stake in Store Capital during the third quarter worth $166,000. Institutional investors own 97.26% of the company’s stock.
A number of analysts recently commented on the company. BMO Capital Markets set a $32.00 price target on Store Capital and gave the stock a “buy” rating in a report on Monday, January 14th. Zacks Investment Research upgraded Store Capital from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Tuesday, January 15th. Mizuho set a $34.00 price target on Store Capital and gave the stock a “buy” rating in a report on Wednesday, January 23rd. Finally, Raymond James set a $34.00 price target on Store Capital and gave the stock a “buy” rating in a report on Thursday, February 28th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $31.43.
Store Capital (NYSE:STOR) last issued its earnings results on Thursday, February 21st. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.18). The firm had revenue of $146.70 million during the quarter, compared to the consensus estimate of $143.83 million. Store Capital had a net margin of 40.12% and a return on equity of 6.25%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 earnings per share. Research analysts anticipate that Store Capital Corp will post 1.88 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.32 annualized dividend and a dividend yield of 3.98%. Store Capital’s payout ratio is presently 71.74%.
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Store Capital 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. STORE Capital was founded by Mary Fedewa, Morton H. Fleischer, Christopher H. Volk, Catherine Long, Michael J.
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