Pictet Asset Management Ltd. lifted its stake in shares of Store Capital Corp (NYSE:STOR) by 19.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 38,600 shares of the real estate investment trust’s stock after purchasing an additional 6,300 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Store Capital were worth $1,281,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Advisory Services Network LLC boosted its holdings in shares of Store Capital by 100.0% during the 1st quarter. Advisory Services Network LLC now owns 1,000 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 500 shares during the last quarter. Heritage Wealth Advisors boosted its holdings in shares of Store Capital by 120.0% during the 2nd quarter. Heritage Wealth Advisors now owns 1,100 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 600 shares during the last quarter. SRS Capital Advisors Inc. acquired a new position in shares of Store Capital during the 2nd quarter worth approximately $44,000. Advisory Alpha LLC acquired a new position in shares of Store Capital during the 1st quarter worth approximately $57,000. Finally, Winslow Evans & Crocker Inc. boosted its holdings in shares of Store Capital by 33.3% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 3,200 shares of the real estate investment trust’s stock worth $108,000 after purchasing an additional 800 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.
STOR traded up $0.33 during trading hours on Thursday, reaching $37.29. The company’s stock had a trading volume of 13,359 shares, compared to its average volume of 1,449,176. Store Capital Corp has a fifty-two week low of $26.93 and a fifty-two week high of $38.76. The stock has a market cap of $8.33 billion, a PE ratio of 20.26, a P/E/G ratio of 3.87 and a beta of 0.18. The business’s 50-day moving average is $36.46 and its 200-day moving average is $34.33. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.35 and a quick ratio of 0.35.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 27th. This is a boost from Store Capital’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 3.75%. Store Capital’s dividend payout ratio is currently 71.74%.
In other news, Director Joseph M. Donovan purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were bought at an average cost of $36.11 per share, for a total transaction of $72,220.00. Following the completion of the purchase, the director now directly owns 55,794 shares of the company’s stock, valued at $2,014,721.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.84% of the company’s stock.
Several research analysts have recently weighed in on the company. BMO Capital Markets restated a “buy” rating and set a $35.00 target price on shares of Store Capital in a report on Monday, August 5th. ValuEngine cut Store Capital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Raymond James set a $39.00 price objective on Store Capital and gave the company a “buy” rating in a report on Monday, August 26th. Morgan Stanley upped their price objective on Store Capital from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Deutsche Bank began coverage on Store Capital in a report on Tuesday, August 27th. They issued a “buy” rating and a $40.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $37.38.
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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