STORE Capital Corporation (STOR) Issues FY17 Earnings Guidance
STORE Capital Corporation (NYSE:STOR) updated its FY17 earnings guidance on Thursday. The company provided EPS guidance of $1.69-1.71 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.64. STORE Capital Corporation also updated its FY18 guidance to $1.78-1.84 EPS.
A number of brokerages have weighed in on STOR. BidaskClub raised shares of STORE Capital Corporation from a hold rating to a buy rating in a research note on Tuesday, October 17th. Robert W. Baird reaffirmed a buy rating on shares of STORE Capital Corporation in a research report on Friday, October 20th. Stifel Nicolaus upped their price target on shares of STORE Capital Corporation from $25.00 to $27.00 and gave the stock a buy rating in a research report on Monday, October 16th. Zacks Investment Research raised shares of STORE Capital Corporation from a sell rating to a hold rating in a research report on Saturday, October 14th. Finally, KeyCorp reiterated a hold rating on shares of STORE Capital Corporation in a report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $27.09.
STORE Capital Corporation (NYSE:STOR) last posted its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.07). STORE Capital Corporation had a net margin of 38.71% and a return on equity of 5.98%. The company had revenue of $114.21 million for the quarter, compared to analysts’ expectations of $112.27 million. During the same period in the previous year, the firm earned $0.38 EPS. The firm’s quarterly revenue was up 24.2% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a dividend of $0.31 per share. This is a positive change from STORE Capital Corporation’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.24 annualized dividend and a dividend yield of 5.02%. STORE Capital Corporation’s payout ratio is presently 126.53%.
In other STORE Capital Corporation news, Director William Franklin Hipp bought 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was bought at an average price of $25.18 per share, for a total transaction of $100,720.00. Following the completion of the acquisition, the director now directly owns 18,499 shares in the company, valued at $465,804.82. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.
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An institutional investor recently raised its position in STORE Capital Corporation stock. The Manufacturers Life Insurance Company lifted its stake in STORE Capital Corporation (NYSE:STOR) by 8.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,356 shares of the real estate investment trust’s stock after buying an additional 409 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in STORE Capital Corporation were worth $120,000 as of its most recent filing with the Securities & Exchange Commission.
STORE Capital Corporation 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. As of December 31, 2016, the Company owned a portfolio that consisted of investments in 1,660 property locations operated by 360 customers across 48 states.
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