Voloridge Investment Management LLC lowered its holdings in shares of Store Capital Corp (NYSE:STOR) by 45.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,346 shares of the real estate investment trust’s stock after selling 66,752 shares during the period. Voloridge Investment Management LLC’s holdings in Store Capital were worth $2,968,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Morgan Stanley lifted its stake in Store Capital by 214.5% during the second quarter. Morgan Stanley now owns 4,550,895 shares of the real estate investment trust’s stock valued at $151,045,000 after buying an additional 3,103,657 shares in the last quarter. Resolution Capital Ltd raised its stake in Store Capital by 118.8% during the 3rd quarter. Resolution Capital Ltd now owns 3,339,967 shares of the real estate investment trust’s stock valued at $124,948,000 after purchasing an additional 1,813,713 shares during the period. Vanguard Group Inc. raised its stake in Store Capital by 5.5% during the 2nd quarter. Vanguard Group Inc. now owns 29,124,884 shares of the real estate investment trust’s stock valued at $966,654,000 after purchasing an additional 1,512,668 shares during the period. Duff & Phelps Investment Management Co. acquired a new stake in Store Capital during the 2nd quarter valued at $46,688,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Store Capital by 53.0% in the third quarter. Russell Investments Group Ltd. now owns 1,996,088 shares of the real estate investment trust’s stock valued at $74,634,000 after purchasing an additional 691,779 shares in the last quarter. Institutional investors own 90.48% of the company’s stock.
In other Store Capital news, Director Joseph M. Donovan bought 2,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were purchased at an average price of $36.11 per share, with a total value of $72,220.00. Following the acquisition, the director now directly owns 55,794 shares of the company’s stock, valued at approximately $2,014,721.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.84% of the stock is owned by corporate insiders.
Several research firms have commented on STOR. Raymond James set a $39.00 target price on shares of Store Capital and gave the stock a “buy” rating in a research report on Monday, August 26th. Deutsche Bank started coverage on Store Capital in a report on Tuesday, August 27th. They set a “buy” rating and a $40.00 price objective on the stock. Zacks Investment Research lowered Store Capital from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. BMO Capital Markets reissued a “buy” rating and issued a $35.00 price objective on shares of Store Capital in a research note on Monday, August 5th. Finally, Morgan Stanley upped their target price on Store Capital from $36.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 17th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $37.75.
Shares of STOR opened at $40.03 on Tuesday. The company has a market capitalization of $9.56 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 4.26 and a beta of 0.18. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.37 and a quick ratio of 0.37. Store Capital Corp has a one year low of $27.35 and a one year high of $40.96. The company’s fifty day moving average price is $39.43 and its 200 day moving average price is $36.52.
Store Capital (NYSE:STOR) last released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.48. The company had revenue of $171.80 million during the quarter, compared to analysts’ expectations of $167.38 million. Store Capital had a net margin of 44.09% and a return on equity of 6.92%. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 earnings per share. Analysts anticipate that Store Capital Corp will post 1.91 earnings per share for the current year.
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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