Analysts expect Store Capital Corp (NYSE:STOR) to report sales of $152.48 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Store Capital’s earnings, with estimates ranging from $149.94 million to $156.89 million. Store Capital reported sales of $124.41 million in the same quarter last year, which indicates a positive year over year growth rate of 22.6%. The firm is scheduled to announce its next quarterly earnings report on Thursday, August 1st.
According to Zacks, analysts expect that Store Capital will report full year sales of $623.76 million for the current fiscal year, with estimates ranging from $600.66 million to $641.20 million. For the next financial year, analysts anticipate that the business will post sales of $696.06 million, with estimates ranging from $607.90 million to $736.21 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Store Capital.
Store Capital (NYSE:STOR) last issued its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.26). The business had revenue of $156.60 million during the quarter, compared to the consensus estimate of $152.22 million. Store Capital had a return on equity of 5.83% and a net margin of 37.19%. The firm’s revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 earnings per share.
A number of research firms have weighed in on STOR. Berenberg Bank began coverage on shares of Store Capital in a research note on Tuesday, April 23rd. They set a “buy” rating and a $36.00 price objective for the company. BTIG Research raised their price objective on shares of Store Capital to $37.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Raymond James raised their price objective on shares of Store Capital from $34.00 to $36.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Finally, Mizuho set a $34.00 price objective on shares of Store Capital and gave the company a “buy” rating in a research note on Wednesday, January 23rd. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $33.50.
Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its stake in shares of Store Capital by 61.2% in the third quarter. JPMorgan Chase & Co. now owns 2,686,801 shares of the real estate investment trust’s stock worth $74,667,000 after acquiring an additional 1,020,403 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Store Capital by 5.5% in the third quarter. Bank of New York Mellon Corp now owns 1,295,686 shares of the real estate investment trust’s stock worth $36,006,000 after acquiring an additional 67,206 shares during the period. AQR Capital Management LLC grew its stake in shares of Store Capital by 7.1% in the third quarter. AQR Capital Management LLC now owns 72,430 shares of the real estate investment trust’s stock worth $2,013,000 after acquiring an additional 4,806 shares during the period. Vanguard Group Inc grew its stake in shares of Store Capital by 3.9% in the third quarter. Vanguard Group Inc now owns 25,788,353 shares of the real estate investment trust’s stock worth $716,658,000 after acquiring an additional 965,052 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in shares of Store Capital by 5.5% in the fourth quarter. State of Alaska Department of Revenue now owns 83,217 shares of the real estate investment trust’s stock worth $2,354,000 after acquiring an additional 4,327 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.
NYSE:STOR opened at $33.96 on Thursday. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 3.59 and a beta of 0.30. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.29 and a quick ratio of 0.29. Store Capital has a fifty-two week low of $25.37 and a fifty-two week high of $34.27.
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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