MSFT and 4 Other Companies Just Increased Their Dividends

4. STORE Capital Corporation (NYSE:STOR)

Number of Hedge Fund Holders: 22

STORE Capital Corporation (NYSE:STOR) is a publicly traded real estate investment trust company based in Arizona. The company is the leader in the middle market real estate capital and net lease solutions. In Q2 2022, the company generated nearly $167 million in free cash flow, up from $160 million in the previous quarter. It reported revenue of $223.8 million, which showed a 16.6% growth from the same period last year. The company’s net income for the quarter came in at $90.5 million and its AFFO stood at $163.8 million.

STORE Capital Corporation (NYSE:STOR) has been raising its dividends consistently for the past 6 years and has boosted its payouts at a CAGR of 5.83% in the last five years. On September 19, the company announced a 7% hike in its quarterly dividend to $0.41 per share. The stock’s dividend yield came in at 5.41%, as of September 21.

In September, Evercore ISI initiated its coverage of STORE Capital Corporation (NYSE:STOR) with an Outperform rating and a $32 price target, up from $29.

At the end of Q2 2022, 22 hedge funds tracked by Insider Monkey owned investments in STORE Capital Corporation (NYSE:STOR), worth $422.7 million. In the previous quarter, 24 hedge funds owned stakes in the company, with a total value of over $748.2 million.