Artisan Partners Limited Partnership Buys 653,255 Shares of STORE Capital Co. (NYSE:STOR)

Artisan Partners Limited Partnership raised its holdings in STORE Capital Co. (NYSE:STORGet Rating) by 62.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,696,929 shares of the real estate investment trust’s stock after acquiring an additional 653,255 shares during the period. Artisan Partners Limited Partnership owned about 0.60% of STORE Capital worth $44,256,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Zullo Investment Group Inc. grew its position in STORE Capital by 57.5% in the second quarter. Zullo Investment Group Inc. now owns 948 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 346 shares during the last quarter. Advisor Group Holdings Inc. grew its position in STORE Capital by 0.6% in the first quarter. Advisor Group Holdings Inc. now owns 64,074 shares of the real estate investment trust’s stock valued at $1,736,000 after acquiring an additional 363 shares during the last quarter. Meeder Asset Management Inc. grew its position in STORE Capital by 48.2% in 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 acquiring an additional 365 shares during the last quarter. Parallel Advisors LLC grew its position in STORE Capital by 29.5% in the second quarter. Parallel Advisors LLC now owns 1,669 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 380 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in STORE Capital by 3.0% in the first quarter. Mercer Global Advisors Inc. ADV now owns 13,988 shares of the real estate investment trust’s stock valued at $409,000 after acquiring an additional 406 shares during the last quarter. Institutional investors own 81.43% of the company’s stock.

STORE Capital Price Performance

STORE Capital stock opened at $31.86 on Thursday. The stock’s 50 day moving average is $31.61 and its 200 day moving average is $28.74. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market cap of $9.01 billion, a P/E ratio of 27.47 and a beta of 0.95. STORE Capital Co. has a one year low of $24.48 and a one year high of $34.99.

STORE Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 17th. Investors of record on Friday, September 30th were paid a $0.41 dividend. This is a positive change from STORE Capital’s previous quarterly dividend of $0.39. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date of this dividend was Thursday, September 29th. STORE Capital’s payout ratio is currently 141.38%.

Analysts Set New Price Targets

STOR has been the topic of several research reports. Stifel Nicolaus cut STORE Capital from a “buy” rating to a “hold” rating and reduced their price target for the stock from $36.50 to $32.25 in a report on Friday, September 16th. Berenberg Bank cut 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 report on Friday, September 16th. Truist Financial reduced their price target on STORE Capital to $30.00 in a report on Tuesday, September 6th. Morgan Stanley boosted their price target on STORE Capital from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Wednesday, November 2nd. Finally, StockNews.com initiated coverage on STORE Capital in a report on Wednesday, October 12th. They set a “hold” rating on the stock. 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, the stock currently has a consensus rating of “Hold” and an average target price of $30.28.

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.

Further Reading

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

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