STORE Capital Announces Fourth Quarter and Full Year 2021 Operating Results
STORE Capital Corporation (NYSE: STOR) reported strong operating results for Q4 2021, with total revenues reaching $209.2 million, a 21% increase year-over-year. Net income was $75.0 million, approximately $0.28 per share. Adjusted Funds From Operations (AFFO) stood at $152.9 million or $0.56 per share, marking a significant improvement. The company declared a quarterly cash dividend of $0.385 and raised its 2022 AFFO per share guidance to $2.18 to $2.22. Total revenues for the year saw a growth of 12.7% to $782.7 million.
- Q4 2021 total revenues increased by 21% to $209.2 million.
- Net income for Q4 was $75.0 million, up from $54.7 million YoY.
- AFFO per share reached $0.56, the highest in the company's history.
- Raised 2022 AFFO per share guidance to $2.18 to $2.22.
- Declared a quarterly cash dividend of $0.385.
- General and administrative expenses increased due to severance costs totaling $11 million.
Raises 2022 AFFO Per Share Guidance
Highlights
For the quarter ended
-
Total revenues of
$209.2 million -
Net income of
, or$75.0 million per basic and diluted share, including an aggregate net gain of$0.28 on dispositions of real estate$14.4 million -
AFFO of
, or$152.9 million per basic and diluted share$0.56 -
Declared a regular quarterly cash dividend per common share of
$0.38 5 -
Invested
in 100 properties at a weighted average initial cap rate of$486.2 million 7.2% -
Raised
in net proceeds from the sale of approximately 1.7 million common shares under the Company’s at-the-market equity program$55.3 million -
Closed fourth public debt offering in
November 2021 , issuing in aggregate principal amount of investment-grade senior unsecured notes with a coupon rate of$375.0 million 2.70%
For the year ended
-
Total revenues of
$782.7 million -
Net income of
, or$268.3 million per basic and diluted share, including an aggregate net gain of$0.99 on dispositions of real estate$46.7 million -
AFFO of
, or$554.0 million per basic and diluted share$2.05 -
Declared regular cash dividends per common share aggregating
$1.49 0 -
Invested
in 336 properties at a weighted average initial cap rate of$1.5 billion 7.5% -
Issued
of long-term fixed rate notes, at a weighted average interest rate of$515.0 million 2.8% , under STORE’s Master Funding secured debt program inJune 2021 ; the issuance included of AAA rated notes$337.0 million -
Raised
in net proceeds from the sale of approximately 7.3 million common shares under the Company’s at-the-market equity program$243.7 million
Management Commentary
“Momentum in our business continued to build throughout 2021 and we closed the year with a very strong fourth quarter, delivering AFFO per share of
Financial Results
COVID-19 Update
Since early 2020, the world has been impacted by the pandemic. At various times, COVID-19 and measures to prevent its spread have affected the Company by impacting its tenants’ businesses and their ability to pay rent. As restrictions have lifted, the Company’s tenants have increased their business activity and their ability to make rent payments. Essentially all of the Company’s properties are open for business and the Company’s collections of monthly rent and interest have returned to pre-pandemic levels. The Company continues to closely watch for unpredictable factors that could impact its business going forward, including governmental, business and individual actions in response to the pandemic, including the vaccination process (and related government mandates), the impact of COVID-19 variants, and the overall impact on broad economic activity.
Total Revenues
Total revenues were
Total revenues for 2021 were
Net Income
Net income was
Net income includes such items as gain or loss on dispositions of real estate and provisions for impairment, which can vary from quarter to quarter and impact net income and period-to-period comparisons.
Net income for the year ended
Adjusted Funds from Operations (AFFO)
AFFO increased to
AFFO for the three months and year ended
Dividend Information
As previously announced,
Real Estate Portfolio Highlights
Investment Activity
The Company originated
Disposition Activity
During the year ended
Portfolio
At
The Company’s portfolio of real estate investments is highly diversified across customers, brand names or business concepts, industries and geography. The following table presents a summary of the portfolio.
Portfolio At A Glance - As of |
|||
Customers |
|
556 |
|
Investment property locations |
|
2,866 |
|
States |
|
49 |
|
Industries in which customers operate |
|
120 |
|
Investment portfolio subject to Master Leases(1) |
|
94 |
% |
Average investment amount/replacement cost (new)(2) |
|
80 |
% |
Weighted average annual lease escalation(3) |
|
1.8 |
% |
Weighted average remaining lease contract term |
|
~13.4 years |
|
Occupancy(4) |
|
99.5 |
% |
Locations subject to unit-level financial reporting |
|
98 |
% |
Weighted average 4‑Wall coverage ratio(5) |
|
4.6x |
|
Weighted average unit fixed charge coverage ratio (5) |
|
3.6x |
|
(1) |
Percentage, based on base rent and interest, of investment portfolio in multiple properties with a single customer subject to master leases. Approximately |
|
(2) |
Represents the ratio of purchase price to replacement cost (new) at acquisition. |
|
(3) |
Represents the weighted average annual escalation rate of the entire portfolio as if all escalations occurred annually. For escalations based on a formula including CPI, assumes the stated fixed percentage in the contract or assumes |
|
(4) |
The Company defines occupancy as a property being subject to a lease or loan contract. As of |
|
(5) |
The 4‑Wall coverage ratio refers to a unit’s FCCR before taking into account standardized corporate overhead expense. |
Capital Transactions
In
In
The Company established a
In
In late
Note Class |
|
Rating |
|
Amount
|
|
Coupon
|
|
Term |
|
Maturity Date |
||
Class A-1 |
|
|
|
$ |
168.5 |
|
2.12 |
% |
|
7 years |
|
|
Class A-2 |
|
|
|
|
168.5 |
|
2.96 |
% |
|
12 years |
|
|
Class A-3 |
|
A+ |
|
|
89.0 |
|
2.86 |
% |
|
7 years |
|
|
Class A-4 |
|
A+ |
|
|
89.0 |
|
3.70 |
% |
|
12 years |
|
|
Total/Weighted Average Coupon |
|
|
|
$ |
515.0 |
|
2.80 |
% |
|
|
|
|
As part of this issuance, the Company prepaid, without penalty,
2022 Guidance
The Company is raising its 2022 AFFO per share guidance from a range of
Conference Call and Webcast
A conference call and audio webcast with analysts and investors will be held tomorrow,
-
Live conference call: 833-950-0062 (US/
Canada ) or 929-526-1599 (international) using access code 804132 -
Conference call replay available through
March 10, 2022 : 866-813-9403 (US/Canada ) or 44-204-525-0658 (international) using access code 096310 - Live and archived webcast: https://ir.storecapital.com/news-results/webcasts/default.aspx
About
Forward-Looking Statements
Certain statements contained in this press release that are not historical facts contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, that are subject to the “safe harbor” created by those sections. Forward-looking statements can be identified by the use of words such as “estimate,” “anticipate,” “expect,” “believe,” “intend,” “may,” “will,” “should,” “seek,” “approximate” or “plan,” or the negative of these words and phrases or similar words or phrases. Forward-looking statements, by their nature, involve estimates, projections, goals, forecasts and assumptions and are subject to risks and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. For more information on risk factors for STORE Capital’s business, please refer to the periodic reports the Company files with the
Non-GAAP Financial Measures
FFO and AFFO
STORE Capital’s reported results are presented in accordance with
The Company computes FFO in accordance with the definition adopted by the
To derive AFFO, the Company modifies the NAREIT computation of FFO to include other adjustments to GAAP net income related to certain revenues and expenses that have no impact on the Company’s long-term operating performance, such as straight-line rents, amortization of deferred financing costs and stock-based compensation. In addition, in deriving AFFO, the Company excludes certain other costs not related to its ongoing operations, such as the amortization of lease-related intangibles and executive severance and transition costs.
FFO is used by management, investors and analysts to facilitate meaningful comparisons of operating performance between periods and among the Company’s peers primarily because it excludes the effect of real estate depreciation and amortization and net gains (or losses) on sales, which are based on historical costs and implicitly assume that the value of real estate diminishes predictably over time, rather than fluctuating based on existing market conditions. Management believes that AFFO provides more useful information to investors and analysts because it modifies FFO to exclude certain additional revenues and expenses such as straight-line rents, including construction period rent deferrals, and the amortization of deferred financing costs, stock-based compensation, lease-related intangibles and executive severance and transition costs as such items have no impact on long-term operating performance. As a result, the Company believes AFFO to be a more meaningful measurement of ongoing performance that allows for greater performance comparability. Therefore, the Company discloses both FFO and AFFO and reconciles them to the most appropriate GAAP performance metric, which is net income. STORE Capital’s FFO and AFFO may not be comparable to similarly titled measures employed by other companies.
|
||||||||||||
Condensed Consolidated Statements of Income |
||||||||||||
(In thousands, except share and per share data) |
||||||||||||
|
||||||||||||
|
|
Three months ended |
|
Year ended |
||||||||
|
|
|
|
|
||||||||
|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
||||
|
|
(unaudited) |
|
(unaudited) |
|
(audited) |
||||||
Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
Rental revenues |
|
$ |
195,486 |
|
$ |
161,829 |
|
$ |
729,061 |
|
$ |
644,498 |
Interest income on loans and financing receivables |
|
|
13,625 |
|
|
10,914 |
|
|
50,821 |
|
|
45,288 |
Other income |
|
|
121 |
|
|
125 |
|
|
2,782 |
|
|
4,482 |
Total revenues |
|
|
209,232 |
|
|
172,868 |
|
|
782,664 |
|
|
694,268 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest |
|
|
44,070 |
|
|
41,890 |
|
|
170,974 |
|
|
169,706 |
Property costs |
|
|
4,146 |
|
|
7,422 |
|
|
18,244 |
|
|
22,025 |
General and administrative |
|
|
25,546 |
|
|
13,943 |
|
|
84,097 |
|
|
49,685 |
Depreciation and amortization |
|
|
70,088 |
|
|
62,172 |
|
|
265,813 |
|
|
242,925 |
Provisions for impairment |
|
|
7,629 |
|
|
12,031 |
|
|
24,979 |
|
|
23,003 |
Total expenses |
|
|
151,479 |
|
|
137,458 |
|
|
564,107 |
|
|
507,344 |
Other income: |
|
|
|
|
|
|
|
|
|
|
|
|
Net gain on dispositions of real estate |
|
|
14,384 |
|
|
15,960 |
|
|
46,655 |
|
|
22,774 |
Income from non-real estate, equity method investment |
|
|
3,145 |
|
|
3,500 |
|
|
3,949 |
|
|
3,500 |
Income before income taxes |
|
|
75,282 |
|
|
54,870 |
|
|
269,161 |
|
|
213,198 |
Income tax expense |
|
|
261 |
|
|
146 |
|
|
813 |
|
|
584 |
Net income |
|
$ |
75,021 |
|
$ |
54,724 |
|
$ |
268,348 |
|
$ |
212,614 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per share of common stock - basic and diluted: |
|
$ |
0.28 |
|
$ |
0.21 |
|
$ |
0.99 |
|
$ |
0.84 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
272,408,343 |
|
|
263,062,568 |
|
|
270,105,269 |
|
|
252,534,580 |
Diluted |
|
|
272,412,406 |
|
|
263,547,523 |
|
|
270,105,269 |
|
|
252,651,040 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends declared per common share |
|
$ |
0.385 |
|
$ |
0.36 |
|
$ |
1.490 |
|
$ |
1.42 |
|
||||||
Condensed Consolidated Balance Sheets |
||||||
(In thousands, except share and per share data) |
||||||
|
||||||
|
|
|
|
|
||
|
|
(unaudited) |
|
(audited) |
||
Assets |
|
|
|
|
|
|
Investments: |
|
|
|
|
|
|
Real estate investments: |
|
|
|
|
|
|
Land and improvements |
|
$ |
3,133,402 |
|
$ |
2,807,153 |
Buildings and improvements |
|
|
6,802,918 |
|
|
6,059,513 |
Intangible lease assets |
|
|
54,971 |
|
|
61,634 |
Total real estate investments |
|
|
9,991,291 |
|
|
8,928,300 |
Less accumulated depreciation and amortization |
|
|
(1,159,292) |
|
|
(939,591) |
|
|
|
8,831,999 |
|
|
7,988,709 |
Real estate investments held for sale, net |
|
|
25,154 |
|
|
22,304 |
Operating ground lease assets |
|
|
33,318 |
|
|
34,683 |
Loans and financing receivables, net |
|
|
697,269 |
|
|
650,321 |
Net investments |
|
|
9,587,740 |
|
|
8,696,017 |
Cash and cash equivalents |
|
|
64,269 |
|
|
166,381 |
Other assets, net |
|
|
121,073 |
|
|
141,942 |
Total assets |
|
$ |
9,773,082 |
|
$ |
9,004,340 |
|
|
|
|
|
|
|
Liabilities and stockholders’ equity |
|
|
|
|
|
|
Liabilities: |
|
|
|
|
|
|
Credit facility |
|
$ |
130,000 |
|
$ |
— |
Unsecured notes and term loans payable, net |
|
|
1,782,813 |
|
|
1,509,612 |
Non-recourse debt obligations of consolidated special purpose entities, net |
|
|
2,425,708 |
|
|
2,212,634 |
Dividends payable |
|
|
105,415 |
|
|
95,801 |
Operating lease liabilities |
|
|
37,637 |
|
|
39,317 |
Accrued expenses, deferred revenue and other liabilities |
|
|
147,380 |
|
|
131,198 |
Total liabilities |
|
|
4,628,953 |
|
|
3,988,562 |
|
|
|
|
|
|
|
Stockholders’ equity: |
|
|
|
|
|
|
Common stock, |
|
|
2,738 |
|
|
2,661 |
Capital in excess of par value |
|
|
5,745,692 |
|
|
5,475,889 |
Distributions in excess of retained earnings |
|
|
(602,137) |
|
|
(459,977) |
Accumulated other comprehensive loss |
|
|
(2,164) |
|
|
(2,795) |
Total stockholders’ equity |
|
|
5,144,129 |
|
|
5,015,778 |
Total liabilities and stockholders’ equity |
|
$ |
9,773,082 |
|
$ |
9,004,340 |
|
||||||||||||
Reconciliations of Non-GAAP Financial Measures |
||||||||||||
(In thousands, except per share data) |
||||||||||||
Funds from Operations and Adjusted Funds from Operations |
||||||||||||
|
|
Three months ended |
|
Year ended |
||||||||
|
|
|
|
|
||||||||
|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
||||
|
|
(unaudited) |
|
(unaudited) |
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
75,021 |
|
$ |
54,724 |
|
$ |
268,348 |
|
$ |
212,614 |
Depreciation and amortization of real estate assets |
|
|
70,019 |
|
|
62,108 |
|
|
265,561 |
|
|
242,636 |
Provision for impairment of real estate |
|
|
6,450 |
|
|
11,778 |
|
|
21,800 |
|
|
21,978 |
Net gain on dispositions of real estate |
|
|
(14,384) |
|
|
(15,960) |
|
|
(46,655) |
|
|
(22,774) |
Funds from Operations (1) |
|
|
137,106 |
|
|
112,650 |
|
|
509,054 |
|
|
454,454 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
Straight-line rental revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
Fixed rent escalations accrued |
|
|
(2,176) |
|
|
(809) |
|
|
(8,432) |
|
|
(8,087) |
Construction period rent deferrals |
|
|
918 |
|
|
538 |
|
|
3,635 |
|
|
1,940 |
Amortization of: |
|
|
|
|
|
|
|
|
|
|
|
|
Equity-based compensation (2) |
|
|
8,067 |
|
|
3,020 |
|
|
32,228 |
|
|
4,665 |
Deferred financing costs and other (3) |
|
|
2,724 |
|
|
2,517 |
|
|
10,120 |
|
|
8,827 |
Lease-related intangibles and costs |
|
|
624 |
|
|
736 |
|
|
3,037 |
|
|
3,034 |
Provision for loan losses |
|
|
1,179 |
|
|
253 |
|
|
3,179 |
|
|
1,025 |
Lease termination fees |
|
|
— |
|
|
(15) |
|
|
(1,785) |
|
|
(602) |
Capitalized interest |
|
|
(213) |
|
|
(251) |
|
|
(822) |
|
|
(751) |
Executive severance and transition costs(4) |
|
|
7,780 |
|
|
— |
|
|
7,780 |
|
|
1,980 |
Income from non-real estate, equity method investment |
|
|
(3,145) |
|
|
(3,500) |
|
|
(3,949) |
|
|
(3,500) |
Adjusted Funds from Operations (1) |
|
$ |
152,864 |
|
$ |
115,139 |
|
$ |
554,045 |
|
$ |
462,985 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends declared to common stockholders |
|
$ |
105,415 |
|
$ |
95,801 |
|
$ |
405,227 |
|
$ |
363,996 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per share of common stock: (5) |
|
|
|
|
|
|
|
|
|
|
|
|
Basic and Diluted |
|
$ |
0.28 |
|
$ |
0.21 |
|
$ |
0.99 |
|
$ |
0.84 |
FFO per share of common stock: (5) |
|
|
|
|
|
|
|
|
|
|
|
|
Basic and Diluted |
|
$ |
0.50 |
|
$ |
0.43 |
|
$ |
1.88 |
|
$ |
1.80 |
AFFO per share of common stock: (5) |
|
|
|
|
|
|
|
|
|
|
|
|
Basic and Diluted |
|
$ |
0.56 |
|
$ |
0.44 |
|
$ |
2.05 |
|
$ |
1.83 |
(1) |
FFO and AFFO for the three months and year ended |
|
(2) |
For both the three months and year ended |
|
(3) |
For the three months and year ended |
|
(4) |
For the three months and year ended |
|
(5) |
Under the two-class method, earnings attributable to unvested restricted stock are deducted from earnings in the computation of per share amounts where applicable. |
Investment Portfolio
Real Estate Portfolio Information
As of
Diversification by Customer
The following table identifies STORE Capital’s ten largest customers as of
Customer |
|
% of
|
|
Number of
|
|
|
|
3.0 |
% |
|
28 |
|
|
3.0 |
|
|
156 |
|
|
2.2 |
|
|
9 |
|
|
2.0 |
|
|
68 |
|
|
1.6 |
|
|
25 |
|
|
1.4 |
|
|
20 |
|
|
1.4 |
|
|
9 |
|
|
1.3 |
|
|
46 |
|
|
1.3 |
|
|
14 |
|
|
1.2 |
|
|
11 |
All other (546 customers) |
|
81.6 |
|
|
2,480 |
Total |
|
100.0 |
% |
|
2,866 |
Diversification by Industry
The business concepts of STORE Capital’s customers are diversified across 120 industries within the service, retail and manufacturing sectors of the
|
|
% of
|
|
Number of
|
|
Building
|
|
Service: |
|
|
|
|
|
|
|
Restaurants – full service |
|
7.0 |
% |
|
349 |
|
2,428 |
Restaurants – limited service |
|
5.0 |
|
|
396 |
|
1,256 |
Early childhood education |
|
6.2 |
|
|
267 |
|
2,858 |
Automotive repair and maintenance |
|
5.4 |
|
|
223 |
|
1,217 |
Health clubs |
|
5.1 |
|
|
90 |
|
3,090 |
Pet care |
|
3.4 |
|
|
184 |
|
1,715 |
Lumber and construction materials wholesalers |
|
3.4 |
|
|
167 |
|
6,865 |
Behavioral health |
|
3.3 |
|
|
84 |
|
1,557 |
Movie theaters |
|
3.3 |
|
|
36 |
|
1,790 |
Medical and dental |
|
3.0 |
|
|
144 |
|
1,353 |
Family entertainment |
|
3.0 |
|
|
40 |
|
1,566 |
Elementary and secondary schools |
|
2.9 |
|
|
16 |
|
850 |
Equipment sales and leasing |
|
1.9 |
|
|
56 |
|
1,399 |
Logistics |
|
1.8 |
|
|
33 |
|
4,188 |
Wholesale automobile auction |
|
1.1 |
|
|
8 |
|
428 |
Metal and mineral merchant wholesalers |
|
1.0 |
|
|
26 |
|
2,152 |
All other service (23 industry groups) |
|
8.0 |
|
|
200 |
|
12,254 |
Total service |
|
64.8 |
|
|
2,319 |
|
46,966 |
Service-Oriented Retail: |
|
|
|
|
|
|
|
Farm and ranch supply |
|
3.4 |
|
|
41 |
|
4,136 |
Furniture |
|
3.0 |
|
|
59 |
|
3,410 |
Recreational vehicle dealers |
|
2.1 |
|
|
32 |
|
1,257 |
Used car dealers |
|
1.5 |
|
|
27 |
|
269 |
Hunting and fishing |
|
1.3 |
|
|
8 |
|
631 |
Home furnishings |
|
1.2 |
|
|
11 |
|
1,262 |
New car dealers |
|
1.1 |
|
|
14 |
|
505 |
All other retail (11 industry groups) |
|
1.6 |
|
|
48 |
|
2,076 |
Total service-oriented retail |
|
15.2 |
|
|
240 |
|
13,546 |
Manufacturing: |
|
|
|
|
|
|
|
Metal fabrication |
|
5.9 |
|
|
109 |
|
14,130 |
Food processing |
|
2.7 |
|
|
27 |
|
3,178 |
Plastic and rubber products |
|
1.8 |
|
|
20 |
|
3,413 |
Automotive parts and accessories |
|
1.7 |
|
|
24 |
|
4,447 |
Furniture manufacturing |
|
1.2 |
|
|
12 |
|
2,980 |
Aerospace product and parts |
|
1.1 |
|
|
25 |
|
1,806 |
Electronics equipment |
|
0.9 |
|
|
11 |
|
1,006 |
All other manufacturing (15 industry groups) |
|
4.7 |
|
|
79 |
|
8,673 |
Total manufacturing |
|
20.0 |
|
|
307 |
|
39,633 |
Total |
|
100.0 |
% |
|
2,866 |
|
100,145 |
Diversification by Geography
STORE Capital’s portfolio is also highly diversified by geography, as the Company’s property locations can be found in every state except
State |
|
% of
|
|
Number of
|
|
|
|
11.3 |
% |
|
344 |
|
|
6.3 |
|
|
180 |
|
|
5.9 |
|
|
80 |
|
|
5.5 |
|
|
165 |
|
|
5.3 |
|
|
156 |
|
|
5.1 |
|
|
142 |
|
|
5.0 |
|
|
78 |
|
|
4.3 |
|
|
90 |
|
|
3.6 |
|
|
120 |
|
|
3.3 |
|
|
87 |
All other (39 states) (1) |
|
44.4 |
|
|
1,424 |
Total |
|
100.0 |
% |
|
2,866 |
(1) |
Includes one property in |
Contracts and Expirations
The Company focuses on long-term, triple-net leases with built-in lease escalators and uses master leases, where appropriate. As of
Year of Lease Expiration or Loan Maturity (1) |
|
% of
|
|
Number of
|
|
2022 |
|
0.5 |
% |
|
22 |
2023 |
|
1.1 |
|
|
10 |
2024 |
|
0.7 |
|
|
22 |
2025 |
|
1.1 |
|
|
24 |
2026 |
|
1.5 |
|
|
54 |
2027 |
|
1.7 |
|
|
54 |
2028 |
|
3.0 |
|
|
68 |
2029 |
|
5.1 |
|
|
160 |
2030 |
|
3.6 |
|
|
147 |
2031 |
|
5.0 |
|
|
209 |
Thereafter |
|
76.7 |
|
|
2,081 |
Total |
|
100.0 |
% |
|
2,851 |
(1) |
Expiration year of contracts in place as of |
|
(2) |
Excludes 15 properties that were vacant and not subject to a lease as of |
View source version on businesswire.com: https://www.businesswire.com/news/home/20220222006332/en/
STORECapital@finprofiles.com
Investors or Media:
Source:
FAQ
What are STORE Capital's Q4 2021 total revenues?
What is the net income for STORE Capital in Q4 2021?
What is the AFFO per share for STORE Capital in Q4 2021?
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