STORE Capital Corporation (STOR) Releases FY18 Earnings Guidance
STORE Capital Corporation (NYSE:STOR) updated its FY18 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.78-1.84 for the period, compared to the Thomson Reuters consensus estimate of $1.75. STORE Capital Corporation also updated its FY17 guidance to $1.69-1.71 EPS.
A number of equities research analysts recently weighed in on the stock. BidaskClub raised shares of STORE Capital Corporation from a hold rating to a buy rating in a research report on Tuesday, October 17th. Robert W. Baird reissued a buy rating on shares of STORE Capital Corporation in a research report on Friday, October 20th. Stifel Nicolaus boosted their price target on shares of STORE Capital Corporation from $25.00 to $27.00 and gave the company 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 restated a hold rating on shares of STORE Capital Corporation in a research note on Wednesday, October 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). STORE Capital Corporation had a return on equity of 5.98% and a net margin of 38.71%. The business had revenue of $114.21 million for the quarter, compared to the consensus estimate of $112.27 million. During the same period in the previous year, the company posted $0.38 earnings per share. STORE Capital Corporation’s revenue for the quarter was up 24.2% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 5.02%. This is a boost from STORE Capital Corporation’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, September 28th. STORE Capital Corporation’s dividend payout ratio is presently 126.53%.
In other news, Director William Franklin Hipp purchased 4,000 shares of STORE Capital Corporation stock in a transaction on Thursday, August 17th. The stock was purchased at an average price of $25.18 per share, with a total value of $100,720.00. Following the transaction, the director now directly owns 18,499 shares in the company, valued at approximately $465,804.82. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.90% of the stock is currently owned by corporate insiders.
An institutional investor recently raised its position in STORE Capital Corporation stock. The Manufacturers Life Insurance Company grew its position in shares of STORE Capital Corporation (NYSE:STOR) by 8.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,356 shares of the real estate investment trust’s stock after acquiring an additional 409 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in STORE Capital Corporation were worth $120,000 at the end of the most recent reporting period.
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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