Store Capital

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Store Capital
TypePublic
IndustryReal estate investment trust (REIT)
Founded2011
Headquarters
Scottsdale, Arizona
Key people
Mary Fedewa (CEO)
ServicesReal Estate leases
Revenue$0.783 billion (2021)
Total assets$9.7 billion (2021)
Total equity$5.1 billion (2021)
OwnerBerkshire Hathaway (9%)
Number of employees
100 (2021)
Websitehttps://www.storecapital.com/

STORE Capital (STORE stands for Single Tenant Operational Real Estate) is a publicly traded American real estate investment trust headquartered in Scottsdale, Arizona.[1][2][3] Berkshire Hathaway owns 9% of the company.[4]

It is traded on NYSE under symbol STOR.[5]

History[]

The company was founded in 2011 and is based in Scottsdale, Arizona.[6]

Backed by Oaktree Capital Management, the company filed for its initial public offering in August 2014[7] and went public on the New York Stock Exchange later that year.[8] Its stock was added to the S&P 400 stock market index in 2020.[9]

On December 28, 2021 Chairman of the Board and former CEO, Christopher Volk, was removed from his position and replaced by Tawn Kelley, a board member since 2020 and Vice President of Taylor Morrison Home Corporation.[10]

Operations[]

STORE Capital likes to work directly with companies in sale/leaseback transactions, which account for roughly 80% of its acquisitions.[11] The company invest primarily in high-quality properties that are subject to long-term NNN Leases.[12]

At December 31, 2021, the company had a portfolio consisting of investments in 2,866 properties operated by 556 clients in 49 American states.[11] Its clients operate in a wide range of service, retail and manufacturing industries in the U.S. economy, including restaurants, theaters, car wash centers, pet shops, nurseries and furniture stores.

At December 31, 2021, STORE Capital’s real estate portfolio totaled $10.7 billion. Approximately 94% of the portfolio represents commercial real estate properties subject to long-term leases and 6 % represents mortgage loans and financing receivables on commercial real estate properties.

Sharesholders[]

As of Feb 16, 2021, Berkshire Hathaway owned 9% of the company's stock.[13][14]

References[]

  1. ^ "STORE Capital marketing $663M portfolio of triple-net leases". Asset Securitization Report. 2019-11-05. Retrieved 2021-12-01.
  2. ^ "STORE Capital Stock: Doubling Down Holdings (NYSE:STOR) | Seeking Alpha". seekingalpha.com. Retrieved 2021-12-01.
  3. ^ "STORE Capital Co. Forecasted to Earn FY2021 Earnings of $1.88 Per Share (NYSE:STOR)". MarketBeat.com. Retrieved 2021-12-01.
  4. ^ CFA, Brent Nyitray (2021-01-20). "Here's Why STORE Capital Is a Warren Buffett Stock". The Motley Fool. Retrieved 2021-12-01.
  5. ^ "Real estate company Store Capital files for IPO". Reuters. 2014-08-29. Retrieved 2021-12-01.
  6. ^ "IPO Preview: STORE Capital Corporation (NYSE:STOR) | Seeking Alpha". seekingalpha.com. Retrieved 2021-12-01.
  7. ^ Neha Dimri (August 29, 2014). "Real estate company Store Capital files for IPO". Reuters. Retrieved November 27, 2021.
  8. ^ "A $495 million IPO in store for STORE Capital; Oaktree-backed REIT IPO sets terms". nasdaq.com. 2014-09-05.{{cite web}}: CS1 maint: url-status (link)
  9. ^ "STORE Capital to join S&P MidCap 400 index". www.spglobal.com. Retrieved 2021-12-01.
  10. ^ https://seekingalpha.com/news/3783705-store-capital-terminates-executive-chairman-christopher-volk-without-cause
  11. ^ a b Brewer, Reuben Gregg (2021-11-26). "Here's Why the Best Is Yet to Come for STORE Capital". The Motley Fool. Retrieved 2021-12-01.
  12. ^ https://www.storecapital.com/
  13. ^ "DEF 14A". www.sec.gov. Retrieved 2021-12-01.
  14. ^ Wiles, Russ. "Store Capital draws investment from Berkshire Hathaway, looks to rebound from COVID-19 crash". The Arizona Republic. Retrieved 2021-12-01.

External links[]

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