Echo Street Capital Management LLC Invests $2.21 Million in STORE Capital Co. (NYSE:STOR)

Echo Street Capital Management LLC bought a new stake in shares of STORE Capital Co. (NYSE:STORGet Rating) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 75,717 shares of the real estate investment trust’s stock, valued at approximately $2,213,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new position in STORE Capital in the 1st quarter valued at about $35,418,000. Goldman Sachs Group Inc. boosted its holdings in STORE Capital by 88.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,598,614 shares of the real estate investment trust’s stock valued at $54,992,000 after purchasing an additional 751,958 shares during the last quarter. State Street Corp grew its stake in STORE Capital by 6.7% during the 4th quarter. State Street Corp now owns 11,766,566 shares of the real estate investment trust’s stock valued at $409,261,000 after purchasing an additional 741,979 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in STORE Capital during the 1st quarter worth approximately $21,224,000. Finally, Hamlin Capital Management LLC raised its position in shares of STORE Capital by 23.2% in the 1st quarter. Hamlin Capital Management LLC now owns 3,763,368 shares of the real estate investment trust’s stock valued at $110,003,000 after purchasing an additional 707,797 shares in the last quarter. 81.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STOR has been the subject of a number of recent analyst reports. Truist Financial decreased their price target on shares of STORE Capital to $30.00 in a research report on Tuesday, September 6th. Jefferies Financial Group dropped their target price 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 cut 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 report on Tuesday, July 12th. Finally, Evercore ISI set a $32.00 price target on STORE Capital in a research note on Monday, June 20th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $29.33.

STORE Capital Stock Up 1.5 %

Shares of NYSE:STOR opened at $27.73 on Friday. STORE Capital Co. has a 1-year low of $24.48 and a 1-year high of $36.13. The company’s fifty day moving average is $27.65 and its two-hundred day moving average is $28.03. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market capitalization of $7.84 billion, a price-to-earnings ratio of 23.11 and a beta of 1.15.

STORE Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were issued a $0.385 dividend. The ex-dividend date was Wednesday, June 29th. This represents a $1.54 dividend on an annualized basis and a yield of 5.55%. STORE Capital’s dividend payout ratio is currently 128.33%.

STORE Capital Profile

(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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