Securian Asset Management Inc lowered its position in shares of STORE Capital Co. (NYSE:STOR) by 6.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,981 shares of the real estate investment trust’s stock after selling 3,463 shares during the quarter. Securian Asset Management Inc’s holdings in STORE Capital were worth $1,621,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in STOR. Selective Wealth Management Inc. acquired a new stake in shares of STORE Capital during the second quarter valued at approximately $26,000. FFT Wealth Management LLC purchased a new position in STORE Capital during the second quarter valued at approximately $26,000. Burleson & Company LLC purchased a new position in STORE Capital during the first quarter valued at approximately $37,000. Twin Lakes Capital Management LLC purchased a new position in STORE Capital during the first quarter valued at approximately $47,000. Finally, Clearview Wealth Advisors LLC purchased a new position in STORE Capital during the first quarter valued at approximately $48,000. Institutional investors and hedge funds own 85.56% of the company’s stock.
NYSE:STOR opened at $34.55 on Wednesday. The stock has a market cap of $9.35 billion, a P/E ratio of 40.17 and a beta of 1.21. STORE Capital Co. has a one year low of $25.23 and a one year high of $37.13. The company has a fifty day moving average price of $35.81 and a 200 day moving average price of $34.90. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.58 and a quick ratio of 0.58.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 30th will be paid a $0.385 dividend. This is a boost from STORE Capital’s previous quarterly dividend of $0.36. The ex-dividend date is Wednesday, September 29th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 4.46%. STORE Capital’s dividend payout ratio is currently 78.69%.
In other news, Director Joseph M. Donovan sold 5,000 shares of the stock in a transaction on Friday, August 27th. The shares were sold at an average price of $35.92, for a total value of $179,600.00. Following the completion of the transaction, the director now owns 80,581 shares in the company, valued at approximately $2,894,469.52. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.88% of the company’s stock.
A number of research analysts recently commented on the stock. BMO Capital Markets assumed coverage on shares of STORE Capital in a research report on Thursday, August 5th. They set a “hold” rating and a $33.00 price objective on the stock. Morgan Stanley boosted their target price on shares of STORE Capital from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 3rd. Raymond James downgraded shares of STORE Capital from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 18th. Mizuho boosted their target price on shares of STORE Capital from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 24th. Finally, Zacks Investment Research downgraded shares of STORE Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, May 19th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, STORE Capital presently has a consensus rating of “Hold” and an average target price of $35.90.
About STORE Capital
STORE Capital Corp. operates as an internally managed net-lease real estate investment trust. The firm 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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