Sumitomo Mitsui Trust Holdings Inc. Decreases Stock Position in STORE Capital Co. (NYSE:STOR)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in STORE Capital Co. (NYSE:STORGet Rating) by 4.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 318,383 shares of the real estate investment trust’s stock after selling 13,809 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in STORE Capital were worth $9,306,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STOR. Raymond James Financial Services Advisors Inc. increased its holdings in shares of STORE Capital by 0.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 59,150 shares of the real estate investment trust’s stock valued at $2,035,000 after purchasing an additional 352 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in shares of STORE Capital by 22.8% in the first quarter. Newbridge Financial Services Group Inc. now owns 2,357 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 437 shares during the period. CIBC Asset Management Inc increased its holdings in shares of STORE Capital by 4.2% in the fourth quarter. CIBC Asset Management Inc now owns 11,699 shares of the real estate investment trust’s stock valued at $402,000 after purchasing an additional 471 shares during the period. North Star Investment Management Corp. increased its holdings in shares of STORE Capital by 100.0% in the fourth quarter. North Star Investment Management Corp. now owns 1,000 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 500 shares during the period. Finally, Clearview Wealth Advisors LLC increased its holdings in shares of STORE Capital by 61.4% in the fourth quarter. Clearview Wealth Advisors LLC now owns 1,340 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 510 shares during the period. 86.02% of the stock is currently owned by hedge funds and other institutional investors.

STORE Capital Price Performance

NYSE:STOR opened at $26.65 on Tuesday. STORE Capital Co. has a 52 week low of $24.48 and a 52 week high of $37.13. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $7.48 billion, a P/E ratio of 24.01 and a beta of 1.14. The stock’s fifty day moving average is $26.62 and its two-hundred day moving average is $29.04.

STORE Capital (NYSE:STORGet Rating) last posted its earnings results on Wednesday, May 4th. The real estate investment trust reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. STORE Capital had a return on equity of 5.65% and a net margin of 36.52%. The company had revenue of $222.12 million for the quarter, compared to the consensus estimate of $212.11 million. During the same quarter in the previous year, the business earned $0.47 earnings per share. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. Equities analysts expect that STORE Capital Co. will post 2.18 EPS for the current year.

STORE Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were paid a $0.385 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 5.78%. STORE Capital’s payout ratio is presently 138.74%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Truist Financial cut their price objective on STORE Capital from $32.00 to $31.00 in a report on Friday, June 3rd. Evercore ISI set a $32.00 target price on STORE Capital in a report on Monday, June 20th. StockNews.com started coverage on STORE Capital in a report on Thursday, March 31st. They set a “hold” rating on the stock. Jefferies Financial Group dropped their target price on STORE Capital from $29.00 to $27.00 and set a “hold” rating on the stock in a report on Thursday, June 30th. Finally, Morgan Stanley lowered STORE Capital from an “equal weight” rating to an “underweight” rating and set a $25.00 target price on the stock. in a report on Tuesday, July 12th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, STORE Capital presently has an average rating of “Hold” and a consensus price target of $29.50.

About STORE Capital

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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 more than 2,500 property locations across the United States, substantially all of which are profit centers.

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Institutional Ownership by Quarter for STORE Capital (NYSE:STOR)

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