Verition Fund Management LLC Sells 184,218 Shares of STORE Capital Co. (NYSE:STOR)

Verition Fund Management LLC cut its holdings in shares of STORE Capital Co. (NYSE:STORGet Rating) by 89.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,215 shares of the real estate investment trust’s stock after selling 184,218 shares during the quarter. Verition Fund Management LLC’s holdings in STORE Capital were worth $649,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of STORE Capital by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 35,890,464 shares of the real estate investment trust’s stock worth $1,049,078,000 after purchasing an additional 191,420 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of STORE Capital by 3.0% during the 1st quarter. Principal Financial Group Inc. now owns 15,089,979 shares of the real estate investment trust’s stock worth $441,080,000 after purchasing an additional 445,292 shares during the last quarter. State Street Corp increased its stake in shares of STORE Capital by 14.6% during the 1st quarter. State Street Corp now owns 13,489,656 shares of the real estate investment trust’s stock worth $399,391,000 after purchasing an additional 1,723,090 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of STORE Capital by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,863,507 shares of the real estate investment trust’s stock worth $132,904,000 after purchasing an additional 138,054 shares during the last quarter. Finally, Hamlin Capital Management LLC increased its stake in shares of STORE Capital by 23.2% during the 1st quarter. Hamlin Capital Management LLC now owns 3,763,368 shares of the real estate investment trust’s stock worth $110,003,000 after purchasing an additional 707,797 shares during the last quarter. 81.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

STOR has been the topic of several recent analyst reports. Truist Financial lowered their price objective on shares of STORE Capital to $30.00 in a research note on Tuesday, September 6th. Morgan Stanley lowered shares of STORE Capital from an “equal weight” rating to an “underweight” rating and set a $25.00 price target on the stock. in a research note on Tuesday, July 12th. Jefferies Financial Group decreased their price target on shares of STORE Capital from $29.00 to $27.00 and set a “hold” rating on the stock in a research note on Thursday, June 30th. Stifel Nicolaus lowered shares of STORE Capital from a “buy” rating to a “hold” rating and decreased their price target for the company from $36.50 to $32.25 in a research note on Friday, September 16th. Finally, Berenberg Bank lowered shares of STORE Capital from a “buy” rating to a “hold” rating and decreased their price target for the company from $37.00 to $33.00 in a research note on Friday, September 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, STORE Capital has a consensus rating of “Hold” and a consensus price target of $30.16.

STORE Capital Stock Performance

Shares of NYSE:STOR opened at $31.72 on Friday. The company’s 50 day moving average price is $28.21 and its two-hundred day moving average price is $28.03. STORE Capital Co. has a 12-month low of $24.48 and a 12-month high of $36.13. The firm has a market cap of $8.97 billion, a PE ratio of 26.44 and a beta of 1.15. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.43.

STORE Capital Increases Dividend

The firm also recently announced 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. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date of this dividend is Thursday, September 29th. This is a positive change from STORE Capital’s previous quarterly dividend of $0.39. STORE Capital’s dividend payout ratio is presently 128.33%.

About STORE Capital

(Get Rating)

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

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