Store Capital Corp (NYSE:STOR) announced a quarterly dividend on Tuesday, September 15th, Zacks reports. Stockholders of record on Wednesday, September 30th will be given a dividend of 0.36 per share by the real estate investment trust on Thursday, October 15th. This represents a $1.44 annualized dividend and a dividend yield of 4.84%. The ex-dividend date of this dividend is Tuesday, September 29th. This is a boost from Store Capital’s previous quarterly dividend of $0.35.
Store Capital has increased its dividend by 21.4% over the last three years and has raised its dividend every year for the last 5 years.
Shares of STOR stock traded up $0.28 during trading hours on Wednesday, hitting $29.78. The company had a trading volume of 7,071 shares, compared to its average volume of 4,022,564. Store Capital has a 12 month low of $13.00 and a 12 month high of $40.96. The firm has a market capitalization of $7.21 billion, a price-to-earnings ratio of 25.76 and a beta of 0.97. The firm’s fifty day moving average is $26.14 and its 200 day moving average is $22.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.96 and a current ratio of 0.96.
Store Capital (NYSE:STOR) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.28). The company had revenue of $168.30 million during the quarter, compared to the consensus estimate of $163.81 million. Store Capital had a net margin of 39.73% and a return on equity of 6.06%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.50 earnings per share. On average, sell-side analysts expect that Store Capital will post 1.85 EPS for the current fiscal year.
In other Store Capital news, CFO Catherine F. Long bought 3,960 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was bought at an average price of $25.23 per share, for a total transaction of $99,910.80. Following the transaction, the chief financial officer now owns 266,669 shares of the company’s stock, valued at approximately $6,728,058.87. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.84% of the company’s stock.
STOR has been the topic of several recent analyst reports. Zacks Investment Research raised Store Capital from a “sell” rating to a “hold” rating in a report on Friday, August 7th. Deutsche Bank reduced their target price on Store Capital from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, May 28th. Evercore ISI initiated coverage on Store Capital in a report on Monday, August 3rd. They issued an “outperform” rating and a $30.00 target price on the stock. Jefferies Financial Group initiated coverage on Store Capital in a report on Monday, June 29th. They issued a “buy” rating and a $31.00 target price on the stock. Finally, ValuEngine raised Store Capital from a “sell” rating to a “hold” rating in a report on Thursday, August 27th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Store Capital has a consensus rating of “Hold” and a consensus target price of $26.70.
Store Capital Company Profile
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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