Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of STORE Capital Co. (NYSE:STOR – Get Rating) by 7.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,422 shares of the real estate investment trust’s stock after selling 1,387 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in STORE Capital were worth $455,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in STOR. Raleigh Capital Management Inc. bought a new position in STORE Capital during the first quarter valued at about $28,000. Meeder Asset Management Inc. grew its position in STORE Capital by 48.2% during the second quarter. Meeder Asset Management Inc. now owns 1,122 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 365 shares during the period. CVA Family Office LLC bought a new position in STORE Capital during the second quarter worth about $33,000. Truvestments Capital LLC bought a new position in STORE Capital during the second quarter worth about $35,000. Finally, Covestor Ltd boosted its position in STORE Capital by 89.1% during the first 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 during the period. Institutional investors own 81.43% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have weighed in on STOR shares. Truist Financial cut their target price on shares of STORE Capital to $30.00 in a research report on Tuesday, September 6th. Morgan Stanley raised their price objective on shares of STORE Capital from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Wednesday, November 2nd. StockNews.com started coverage on shares of STORE Capital in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Stifel Nicolaus lowered shares of STORE Capital from a “buy” rating to a “hold” rating and cut their price objective for the company from $36.50 to $32.25 in a research report on Friday, September 16th. Finally, Berenberg Bank lowered shares of STORE Capital from a “buy” rating to a “hold” rating and cut their price objective for the company from $37.00 to $33.00 in a research report on Friday, September 16th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, STORE Capital has a consensus rating of “Hold” and an average target price of $30.28.
STORE Capital Trading Up 0.3 %
STORE Capital Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, October 17th. Shareholders of record on Friday, September 30th were paid a dividend of $0.41 per share. The ex-dividend date was Thursday, September 29th. This is an increase from STORE Capital’s previous quarterly dividend of $0.39. This represents a $1.64 annualized dividend and a dividend yield of 5.15%. STORE Capital’s dividend payout ratio (DPR) is 141.38%.
STORE Capital Company Profile
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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