State of Alaska Department of Revenue grew its position in STORE Capital Co. (NYSE:STOR – Get Rating) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 160,739 shares of the real estate investment trust’s stock after acquiring an additional 385 shares during the quarter. State of Alaska Department of Revenue’s holdings in STORE Capital were worth $4,191,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Raleigh Capital Management Inc. acquired a new stake in STORE Capital in the 1st quarter worth approximately $28,000. Baldwin Brothers LLC MA acquired a new stake in STORE Capital in the 1st quarter worth approximately $35,000. Covestor Ltd boosted its stake in STORE Capital by 89.1% in the 1st quarter. Covestor Ltd now owns 1,248 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 588 shares in the last quarter. North Star Investment Management Corp. boosted its stake in STORE Capital by 50.0% in the 1st quarter. North Star Investment Management Corp. now owns 1,500 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 500 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in STORE Capital by 302.1% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,500 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 1,127 shares during the last quarter. 81.43% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the stock. Berenberg Bank lowered shares of STORE Capital from a “buy” rating to a “hold” rating and reduced their price target for the stock from $37.00 to $33.00 in a research report on Friday, September 16th. Evercore ISI set a $32.00 price target on shares of STORE Capital in a research report on Monday, June 20th. Jefferies Financial Group reduced 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. Morgan Stanley lowered shares of STORE Capital from an “equal weight” rating to an “underweight” rating and set a $25.00 price target for the company. in a research report on Tuesday, July 12th. Finally, Truist Financial reduced their price target on shares of STORE Capital to $30.00 in a research report on Tuesday, September 6th. Two equities 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 stock. According to data from MarketBeat, STORE Capital presently has a consensus rating of “Hold” and a consensus price target of $30.16.
STORE Capital Price Performance
STORE Capital Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 5.17%. The ex-dividend date is Thursday, September 29th. This is a positive change from STORE Capital’s previous quarterly dividend of $0.39. STORE Capital’s payout ratio is presently 128.33%.
About STORE Capital
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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