QS Investors LLC cut its holdings in STORE Capital Co. (NYSE:STOR) by 31.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,260 shares of the real estate investment trust’s stock after selling 51,199 shares during the quarter. QS Investors LLC’s holdings in STORE Capital were worth $3,909,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Selective Wealth Management Inc. bought a new position in STORE Capital in the second quarter worth about $26,000. FFT Wealth Management LLC bought a new position in STORE Capital in the second quarter worth about $26,000. Mark Sheptoff Financial Planning LLC bought a new position in STORE Capital in the second quarter worth about $29,000. Samalin Investment Counsel LLC bought a new position in STORE Capital in the second quarter worth about $39,000. Finally, Twin Lakes Capital Management LLC bought a new position in STORE Capital in the first quarter worth about $47,000. 85.56% of the stock is owned by institutional investors.
Shares of NYSE:STOR opened at $33.47 on Thursday. STORE Capital Co. has a twelve month low of $25.23 and a twelve month high of $37.13. The company’s 50 day moving average is $34.70 and its 200 day moving average is $34.94. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.51. The company has a market cap of $9.05 billion, a PE ratio of 38.92 and a beta of 1.21.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Thursday, September 30th will be issued a $0.385 dividend. This represents a $1.54 annualized dividend and a yield of 4.60%. The ex-dividend date of this dividend is Wednesday, September 29th. This is an increase from STORE Capital’s previous quarterly dividend of $0.36. STORE Capital’s dividend payout ratio is 84.15%.
In related news, Director Joseph M. Donovan sold 5,000 shares of the stock in a transaction that occurred 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 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 through this link. 0.88% of the stock is currently owned by corporate insiders.
A number of brokerages have commented on STOR. BMO Capital Markets began coverage on shares of STORE Capital in a report on Thursday, August 5th. They issued a “hold” rating and a $33.00 target price for the company. Mizuho upped their price objective on shares of STORE Capital from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday, August 24th. Finally, Raymond James downgraded shares of STORE Capital from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 18th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.90.
STORE Capital Company Profile
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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