State of Alaska Department of Revenue Increases Stake in STORE Capital Co. (NYSE:STOR)

State of Alaska Department of Revenue raised its holdings in shares of STORE Capital Co. (NYSE:STORGet Rating) by 0.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 160,739 shares of the real estate investment trust’s stock after buying an additional 385 shares during the period. State of Alaska Department of Revenue owned about 0.06% of STORE Capital worth $4,191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in STOR. Pensionfund Sabic boosted its position in shares of STORE Capital by 26.3% in the second quarter. Pensionfund Sabic now owns 36,000 shares of the real estate investment trust’s stock worth $939,000 after purchasing an additional 7,500 shares during the period. Pensionfund DSM Netherlands boosted its position in shares of STORE Capital by 24.6% in the second quarter. Pensionfund DSM Netherlands now owns 76,000 shares of the real estate investment trust’s stock worth $1,982,000 after purchasing an additional 15,000 shares during the period. Bank of America Corp DE boosted its position in shares of STORE Capital by 12.9% in the first quarter. Bank of America Corp DE now owns 1,001,633 shares of the real estate investment trust’s stock worth $29,277,000 after purchasing an additional 114,438 shares during the period. Castellan Group boosted its position in shares of STORE Capital by 14.7% in the first quarter. Castellan Group now owns 76,520 shares of the real estate investment trust’s stock worth $2,237,000 after purchasing an additional 9,830 shares during the period. Finally, Greylin Investment Mangement Inc. bought a new position in shares of STORE Capital in the first quarter worth approximately $235,000. 81.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Berenberg Bank lowered shares of STORE Capital from a “buy” rating to a “hold” rating and dropped their price target for the stock from $37.00 to $33.00 in a research report on Friday, September 16th. Jefferies Financial Group dropped their price target on shares of STORE Capital from $29.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday, June 30th. Truist Financial dropped their target price on shares of STORE Capital to $30.00 in a research report on Tuesday, September 6th. Evercore ISI set a $32.00 target price on shares of STORE Capital in a research report on Monday, June 20th. Finally, Stifel Nicolaus lowered shares of STORE Capital from a “buy” rating to a “hold” rating and dropped their target price for the stock from $36.50 to $32.25 in a research report on Friday, September 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $30.16.

STORE Capital Price Performance

STOR stock opened at $31.70 on Thursday. STORE Capital Co. has a 52 week low of $24.48 and a 52 week high of $36.13. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.43. The company has a fifty day simple moving average of $28.21 and a two-hundred day simple moving average of $28.03. The firm has a market capitalization of $8.96 billion, a P/E ratio of 26.42 and a beta of 1.15.

STORE Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.64 annualized dividend and a yield of 5.17%. This is a positive change from STORE Capital’s previous quarterly dividend of $0.39. STORE Capital’s dividend payout ratio (DPR) is 128.33%.

STORE Capital Profile

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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.

See Also

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

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