Nomura Asset Management Co. Ltd. increased its holdings in Store Capital Corp (NYSE:STOR) by 5.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,037 shares of the real estate investment trust’s stock after buying an additional 5,170 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.05% of Store Capital worth $2,681,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of STOR. Massachusetts Financial Services Co. MA grew its holdings in Store Capital by 39.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,871,769 shares of the real estate investment trust’s stock worth $245,017,000 after buying an additional 2,798,061 shares in the last quarter. Anchor Capital Advisors LLC bought a new position in Store Capital in the 1st quarter worth approximately $42,930,000. Centersquare Investment Management LLC bought a new position in Store Capital in the 1st quarter worth approximately $40,096,000. Deutsche Bank AG grew its holdings in Store Capital by 33.9% in the 4th quarter. Deutsche Bank AG now owns 5,628,303 shares of the real estate investment trust’s stock worth $146,557,000 after buying an additional 1,425,053 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in Store Capital by 316.6% in the 1st quarter. Artisan Partners Limited Partnership now owns 1,665,134 shares of the real estate investment trust’s stock worth $41,329,000 after buying an additional 1,265,423 shares in the last quarter. 95.08% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on the company. B. Riley set a $26.00 price objective on Store Capital and gave the stock a “hold” rating in a report on Friday, February 23rd. Zacks Investment Research raised Store Capital from a “sell” rating to a “hold” rating in a report on Friday, March 9th. ValuEngine raised Store Capital from a “hold” rating to a “buy” rating in a report on Friday, May 4th. SunTrust Banks set a $27.00 price objective on Store Capital and gave the stock a “buy” rating in a report on Tuesday, April 3rd. Finally, Wells Fargo & Co decreased their price target on Store Capital from $27.00 to $26.00 and set a “market perform” rating for the company in a research note on Tuesday, March 20th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $27.11.
Store Capital (NYSE:STOR) last issued its quarterly earnings results on Thursday, May 3rd. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.17). The firm had revenue of $125.80 million for the quarter, compared to the consensus estimate of $124.83 million. Store Capital had a net margin of 38.37% and a return on equity of 5.71%. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.43 earnings per share. equities research analysts forecast that Store Capital Corp will post 1.75 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 2,000 property locations, substantially all of which are profit centers, in 49 states.
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