Allianz Asset Management GmbH lifted its position in Store Capital Corp (NYSE:STOR) by 45.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 648,550 shares of the real estate investment trust’s stock after purchasing an additional 201,552 shares during the quarter. Allianz Asset Management GmbH owned about 0.30% of Store Capital worth $18,023,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Qube Research & Technologies Ltd bought a new stake in shares of Store Capital in the second quarter worth about $117,000. Centaurus Financial Inc. bought a new stake in shares of Store Capital in the second quarter worth about $151,000. DekaBank Deutsche Girozentrale increased its holdings in shares of Store Capital by 69.9% in the third quarter. DekaBank Deutsche Girozentrale now owns 5,863 shares of the real estate investment trust’s stock worth $168,000 after purchasing an additional 2,412 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Store Capital in the second quarter worth about $200,000. Finally, Virtu Financial LLC bought a new stake in shares of Store Capital in the third quarter worth about $202,000. 93.54% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised Store Capital from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Friday, November 16th. BMO Capital Markets set a $32.00 target price on Store Capital and gave the stock a “buy” rating in a report on Thursday, November 1st. Mizuho set a $30.00 target price on Store Capital and gave the stock a “buy” rating in a report on Monday, August 13th. ValuEngine raised Store Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, October 23rd. Finally, Morgan Stanley raised Store Capital from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective on the stock in a research note on Monday, October 1st. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Store Capital has a consensus rating of “Buy” and an average target price of $29.25.
In related news, Director Joseph M. Donovan acquired 3,000 shares of Store Capital stock in a transaction on Wednesday, November 28th. The shares were bought at an average cost of $29.53 per share, with a total value of $88,590.00. Following the completion of the purchase, the director now directly owns 50,820 shares of the company’s stock, valued at approximately $1,500,714.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.85% of the company’s stock.
Shares of NYSE STOR opened at $30.68 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.56. Store Capital Corp has a 1-year low of $22.51 and a 1-year high of $30.87. The company has a market cap of $6.40 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 3.44 and a beta of 0.08.
Store Capital (NYSE:STOR) last issued its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.03. Store Capital had a return on equity of 6.11% and a net margin of 39.17%. The company had revenue of $137.00 million for the quarter, compared to analysts’ expectations of $135.39 million. During the same period in the previous year, the firm posted $0.41 earnings per share. The firm’s revenue for the quarter was up 24.0% on a year-over-year basis. As a group, analysts predict that Store Capital Corp will post 1.75 EPS for the current fiscal year.
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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 2,206 property locations, substantially all of which are profit centers, in 49 states.
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