STORE Capital Corporation [STOR] stock Downgrade by Morgan Stanley analyst, price target now $25

STORE Capital Corporation [NYSE: STOR] loss -0.32% or -0.1 points to close at $31.63 with a heavy trading volume of 4989134 shares. The company report on October 17, 2022 that STORE Capital Announces Expiration of “Go-Shop” Period.


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STORE Capital Corporation (NYSE: STOR, “STORE Capital” or the “Company”), an internally managed net-lease real estate investment trust (REIT) that invests in Single Tenant Operational Real Estate, announced today the expiration of the “go-shop” period set forth in the previously announced definitive merger agreement, dated September 15, 2022, with affiliates of GIC, a global institutional investor, and Oak Street, a Division of Blue Owl (the “merger agreement”). Under the terms of the merger agreement, GIC and funds managed by Oak Street have agreed to acquire all the outstanding shares of the Company’s common stock for $32.25 per share in an all-cash transaction valued at approximately $14 billion. The “go-shop” period expired at 11:59 p.m. (Eastern time) on October 15, 2022.

During the “go-shop” period, at the direction of the Company’s board of directors, representatives of Evercore and Goldman Sachs & Co. LLC, financial advisors to the Company, actively solicited acquisition proposals from 15 potentially interested third parties. To date, none of the third parties contacted by the Company or its financial advisors, or any other third parties, have made an acquisition proposal following the execution of the merger agreement.

It opened the trading session at $31.72, the shares rose to $31.76 and dropped to $31.63, the range by which the price of stock traded the whole day. The daily chart for STOR points out that the company has recorded 11.92% gains over the past six months. However, it is still -29.21% lower than its most recent low trading price.

If we look at the average trading volume of 5.65M shares, STOR reached to a volume of 4989134 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about STORE Capital Corporation [STOR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for STOR shares is $30.80 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on STOR stock is a recommendation set at 3.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for STORE Capital Corporation shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on July 12, 2022. While these analysts kept the previous recommendation, BMO Capital Markets dropped their target price from $37 to $29. The new note on the price target was released on March 07, 2022, representing the official price target for STORE Capital Corporation stock. Previously, the target price had yet another drop from $39 to $37, while Jefferies kept a Hold rating on STOR stock.

The Average True Range (ATR) for STORE Capital Corporation is set at 0.19, with the Price to Sales ratio for STOR stock in the period of the last 12 months amounting to 10.44. The Price to Book ratio for the last quarter was 1.66, with the Price to Cash per share for the same quarter was set at 0.11.

Trading performance analysis for STOR stock

STORE Capital Corporation [STOR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.06. With this latest performance, STOR shares gained by 0.83% in over the last four-week period, additionally plugging by 11.92% over the last 6 months – not to mention a drop of -8.37% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for STOR stock in for the last two-week period is set at 60.23, with the RSI for the last a single of trading hit 55.72, and the three-weeks RSI is set at 61.19 for STORE Capital Corporation [STOR]. The present Moving Average for the last 50 days of trading for this stock 30.29, while it was recorded at 31.71 for the last single week of trading, and 28.99 for the last 200 days.

STORE Capital Corporation [STOR]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for STOR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for STORE Capital Corporation go to 6.09%.

An analysis of insider ownership at STORE Capital Corporation [STOR]

There are presently around $7,123 million, or 81.90% of STOR stock, in the hands of institutional investors. The top three institutional holders of STOR stocks are: VANGUARD GROUP INC with ownership of 38,183,934, which is approximately 6.39% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 27,824,994 shares of the stock with an approximate value of $880.11 million in STOR stocks shares; and PRINCIPAL FINANCIAL GROUP INC, currently with $487.09 million in STOR stock with ownership of nearly 2.051% of the company’s market capitalization.

252 institutional holders increased their position in STORE Capital Corporation [NYSE:STOR] by around 23,859,964 shares. Additionally, 191 investors decreased positions by around 31,955,763 shares, while 57 investors held positions by with 169,375,751 shares. The mentioned changes placed institutional holdings at 225,191,478 shares, according to the latest SEC report filing. STOR stock had 50 new institutional investments in for a total of 3,272,217 shares, while 64 institutional investors sold positions of 9,115,244 shares during the same period.

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