STORE Capital Inc (NYSE:STOR) Sets New 12-Month Low Following Analyst Downgrade

STORE Capital Co. (NYSE: STOR – Get a rating) The stock price hit a new 52-week low in trading on Tuesday after Morgan Stanley lowered its price target on the stock from $36.00 to $35.00. Morgan Stanley currently has an equal weight rating on the stock. STORE Capital traded as low as $28.66 and last traded at $28.80, with a volume of 23,778 shares traded in hands. The stock previously closed at $29.14.

Other stock analysts have also published research reports on the stock. Zacks Investment Research downgraded shares of STORE Capital from a “buy” rating to a “hold” rating in a Tuesday, February 15 research report. BMO Capital Markets downgraded STORE Capital shares from a “market performance” rating to an “underperform” rating and lowered its target price for the stock from $37.00 to $29.00 in a research report on Monday. Jefferies Financial Group downgraded STORE Capital shares from a “buy” rating to a “hold” rating and lowered its target price for the stock from $39.00 to $37.00 in a Monday research report January 10. Mizuho lowered its price target on STORE Capital shares from $37.00 to $33.00 in a Thursday, January 20 research report. Finally, Capital One Financial reaffirmed an “overweight” rating on STORE Capital shares in a Friday, January 21 research report. One investment analyst has assigned the stock a sell rating, six have issued a hold rating and two have assigned the company a buy rating. According to data from MarketBeat, STORE Capital has a consensus rating of “Hold” and an average target price of $35.11.

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A number of hedge funds and other institutional investors have recently changed their stock holdings. BlackRock Inc. increased its position in STORE Capital by 4.3% during the 4th quarter. BlackRock Inc. now owns 27,906,158 shares of the real estate investment trust worth $959,974,000 after buying an additional 1,157,044 shares in the last quarter. Wexford Capital LP acquired a new stake in STORE Capital during the 4th quarter for a value of approximately $459,000. Goldman Sachs Group Inc. increased its stake in STORE Capital by 88.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,598,614 shares of the real estate investment trust worth $54,992,000 after buying an additional 751,958 shares in the last quarter. Virtu Financial LLC increased its stake in STORE Capital by 5.0% during the 4th quarter. Virtu Financial LLC now owns 10,059 shares of the real estate investment trust worth $346,000 after buying 483 additional shares in the last quarter. Finally, Castellan Group increased its stake in STORE Capital by 2.0% during the 4th quarter. The Castellan Group now owns 66,690 shares of the real estate investment trust worth $2,294,000 after buying an additional 1,310 shares in the last quarter. Institutional investors and hedge funds own 84.64% of the company’s shares.

The stock has a market capitalization of $7.91 billion, a P/E ratio of 29.14 and a beta of 1.25. The company has a current ratio of 0.39, a quick ratio of 0.44 and a debt ratio of 0.50. The company has a fifty-day simple moving average of $31.72 and a two-hundred-day simple moving average of $33.32.

STORE Capital (NYSE: STOR – Get a rating) last reported quarterly earnings data on Wednesday, Feb. 23. The real estate investment trust reported earnings per share of $0.28 for the quarter, missing Thomson Reuters’ consensus estimate of $0.49 per ($0.21). The company posted revenue of $209.23 million for the quarter, versus a consensus estimate of $201.56 million. STORE Capital achieved a return on equity of 5.08% and a net margin of 34.29%. The company’s revenue for the quarter increased by 21.0% compared to the same quarter last year. In the same period a year earlier, the company posted earnings of $0.44 per share. As a group, analysts expect STORE Capital Co. to post earnings per share of 2.13 for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 18. Investors of record on Friday, December 31 received a dividend of $0.385 per share. The ex-dividend date was Thursday, December 30. This represents a dividend of $1.54 on an annualized basis and a yield of 5.35%. STORE Capital’s distribution rate is 154.00%.

STORE Capital Company Profile (NYSE: STOR)

STORE Capital Corp. operates as an internally managed net leasehold real estate investment trust. The Company engages in the acquisition, investment, management and ownership of single-tenant operational real estate properties. The company was founded by Mary Fedewa, Morton H. Fleischer, Christopher H. Volk, Catherine Long, Michael J.

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