First Republic Investment Management Inc. bought a new stake in shares of Store Capital Corp (NYSE:STOR) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,877 shares of the real estate investment trust’s stock, valued at approximately $246,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Berkshire Hathaway Inc. bought a new position in Store Capital during the second quarter valued at $418,057,000. State Street Corp lifted its position in Store Capital by 10.1% during the second quarter. State Street Corp now owns 3,217,856 shares of the real estate investment trust’s stock valued at $72,242,000 after purchasing an additional 295,070 shares during the last quarter. American Century Companies Inc. lifted its position in Store Capital by 34.1% during the second quarter. American Century Companies Inc. now owns 737,678 shares of the real estate investment trust’s stock valued at $16,561,000 after purchasing an additional 187,680 shares during the last quarter. Loeb Partners Corp bought a new position in Store Capital during the third quarter valued at $373,000. Finally, Parametric Portfolio Associates LLC lifted its position in Store Capital by 50.1% during the second quarter. Parametric Portfolio Associates LLC now owns 70,317 shares of the real estate investment trust’s stock valued at $1,579,000 after purchasing an additional 23,467 shares during the last quarter. 95.68% of the stock is owned by institutional investors.
Several research firms have commented on STOR. B. Riley set a $26.00 price objective on shares of Store Capital and gave the company a “hold” rating in a research report on Wednesday, November 15th. Zacks Investment Research lowered shares of Store Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. BidaskClub upgraded shares of Store Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Store Capital in a research report on Monday, November 6th. Finally, SunTrust Banks reiterated a “buy” rating and set a $25.00 price objective on shares of Store Capital in a research report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $27.00.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.24 annualized dividend and a dividend yield of 4.74%. Store Capital’s dividend payout ratio (DPR) is presently 139.33%.
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Store Capital Profile
STORE Capital Corporation is an internally managed net-lease real estate investment trust. The Company is engaged in the acquisition, investment and management of single tenant operational real estate (STORE) properties. As of December 31, 2016, the Company owned a portfolio that consisted of investments in 1,660 property locations operated by 360 customers across 48 states.
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