Research analysts at Jefferies Financial Group assumed coverage on shares of Store Capital (NYSE:STOR) in a note issued to investors on Monday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $31.00 price target on the real estate investment trust’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 30.20% from the company’s previous close.
Several other brokerages have also recently issued reports on STOR. Raymond James decreased their price objective on Store Capital from $42.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, May 20th. Zacks Investment Research upgraded Store Capital from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. BMO Capital Markets cut Store Capital from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $36.00 to $15.00 in a research note on Monday, April 20th. Mizuho boosted their target price on Store Capital from $17.00 to $24.00 in a research note on Tuesday, June 16th. Finally, Deutsche Bank decreased their target price on Store Capital from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, May 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $28.00.
Shares of STOR opened at $23.81 on Monday. The stock has a 50-day simple moving average of $21.83 and a 200-day simple moving average of $27.83. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $5.86 billion, a PE ratio of 18.46 and a beta of 0.93. Store Capital has a 1 year low of $13.00 and a 1 year high of $40.96.
Store Capital (NYSE:STOR) last announced its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.23). The company had revenue of $177.90 million during the quarter, compared to analysts’ expectations of $178.41 million. Store Capital had a net margin of 43.97% and a return on equity of 6.90%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 EPS. Analysts predict that Store Capital will post 1.86 EPS for the current year.
In related news, CEO Christopher H. Volk bought 5,650 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $17.64 per share, with a total value of $99,666.00. Following the completion of the acquisition, the chief executive officer now owns 519,831 shares in the company, valued at approximately $9,169,818.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joseph M. Donovan bought 8,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average cost of $18.24 per share, for a total transaction of $145,920.00. Following the acquisition, the director now owns 76,794 shares of the company’s stock, valued at approximately $1,400,722.56. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 14,450 shares of company stock valued at $265,034. 0.84% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Greenwood Capital Associates LLC grew its holdings in Store Capital by 7.9% during the fourth quarter. Greenwood Capital Associates LLC now owns 6,161 shares of the real estate investment trust’s stock worth $229,000 after acquiring an additional 453 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Store Capital by 516.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 728 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 610 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in Store Capital by 132.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,184 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 675 shares in the last quarter. Orion Portfolio Solutions LLC purchased a new stake in Store Capital during the fourth quarter worth $26,000. Finally, Redpoint Investment Management Pty Ltd boosted its position in Store Capital by 6.9% during the first quarter. Redpoint Investment Management Pty Ltd now owns 12,641 shares of the real estate investment trust’s stock worth $229,000 after purchasing an additional 816 shares in the last quarter. 92.29% of the stock is currently owned by hedge funds and other institutional investors.
About Store Capital
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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