STOR - STOR STOCK NEWS

STORE Capital Corporation (NYSE: STOR) has finalized its acquisition by GIC and Oak Street, with GIC acquiring all outstanding shares of STORE Capital for $32.25 per share in an all-cash deal valued at approximately $15 billion, including debt. This transaction enhances STORE's access to long-term capital, essential for its operational financing solutions. The deal, which was first announced on September 15, 2022, is noted as one of the largest M&A transactions in the U.S. real estate market, emphasizing the strategic importance of operational expertise and market presence for future growth.

STORE Capital Corporation (NYSE: STOR) announced stockholder approval for its acquisition by GIC affiliates and Oak Street. The stockholders will receive $32.25 per share in cash, with the deal expected to close in Q1 2023, pending customary conditions. Following the transaction, STORE Capital's common stock will cease to be publicly traded. This acquisition underscores the company's strategic shift and commitment to its investment in single-tenant operational real estate, positioning it for potential growth.

STORE Capital Corporation (NYSE: STOR) announced that the Committee on Foreign Investment in the United States (CFIUS) has approved its all-cash acquisition by GIC affiliates and funds managed by Oak Street. This strategic transaction is expected to finalize in Q1 2023, pending stockholder approval and other customary conditions. STORE Capital is a leader in net-lease real estate investment, owning a diversified portfolio of over 3,000 properties in the U.S. The acquisition is anticipated to enhance operational efficiencies and growth potential.

STORE Capital (NYSE: STOR) reported third-quarter 2022 results with total revenues of $230.6 million, a 15.8% increase from the prior year. Net income was $68.6 million or $0.24 per share. Adjusted Funds from Operations (AFFO) rose to $168.0 million ($0.59 per share). The company declared a quarterly dividend of $0.41 per share. Investments totaled $284.8 million across 50 properties with a cap rate of 7.6%. A merger agreement with GIC and Oak Street Real Estate will convert shares to $32.25 cash, pending shareholder approval.

STORE Capital Corporation (NYSE: STOR) announced the expiration of the 'go-shop' period related to its merger agreement with GIC and Oak Street, where all outstanding shares will be acquired for $32.25 per share, totaling approximately $14 billion. The go-shop period ended on October 15, 2022, with no competing acquisition proposals received. The merger is expected to close in Q1 2023, pending stockholder approval and customary closing conditions.

STORE Capital Corporation (NYSE: STOR) announced its third-quarter financial results set for release on November 3, 2022, ahead of market opening. Due to its pending acquisition by GIC and Oak Street, a division of Blue Owl, the Company will not hold a conference call with analysts for the results. STORE is a leading net-lease REIT focusing on single-tenant operational real estate, managing over 3,000 properties across the U.S.

The definitive proxy statement regarding the proposed acquisition will be filed with the SEC, urging investors to review it for vital transaction details.

STORE Capital Corporation declared a quarterly cash dividend of $0.41 per share for Q3 2022, marking a 6.5% increase from the previous dividend. This dividend will be paid on October 17, 2022 to stockholders on record as of September 30, 2022. The declaration aligns with the Merger Agreement involving STORE and parent company affiliates, limiting future dividends except as necessary to maintain REIT tax status. STORE is recognized as a leading net-lease REIT, managing a diverse portfolio of over 3,000 properties across the U.S.

STORE Capital Corporation has announced a definitive agreement with GIC and Oak Street for an all-cash acquisition valued at approximately $14 billion. Under this agreement, STORE Capital stockholders will receive $32.25 per share, reflecting a premium of 20.4% to its closing stock price as of September 14, 2022. The transaction is expected to close in Q1 2023, pending stockholder approval. The deal includes a 30-day 'go-shop' period for alternative offers, although no assurances have been provided for superior proposals.

STORE Capital Corporation (NYSE: STOR) announced strong operating results for Q2 2022, with total revenues of $223.8 million, a 16.5% increase year-over-year. Net income reached $90.5 million, or $0.32 per share, aided by a net gain of $13.7 million from real estate dispositions. AFFO also grew to $163.8 million, or $0.58 per share. The company raised its 2022 AFFO per share guidance to $2.25-$2.27 and declared a quarterly cash dividend of $0.385 per share. STORE Capital invested $391.9 million in 62 properties at a 7.2% cap rate, solidifying its robust portfolio expansion.