STOR - STORE Capital Q3 revenue earnings continue to climb as it prepares to go private
- STORE Capital ( NYSE: STOR ), which is set to go private early next year, posted Q3 earnings and revenue that exceeded the Wall Street consensus estimates.
- Q3 adjusted FFO per share of $0.59, topping the average analyst estimate of $0.55, rose from $0.58 in Q2 and from $0.52 in Q3 2021.
- Q3 total revenue of $230.6M, beating the $226.4M consensus, increased from $223.8M in the prior quarter and from $199.1M in the year-ago quarter.
- STORE Capital ( STOR ) originated $284.8M of gross investments, representing 50 property locations during Q3. The investments had a weighted average initial cap rate of 7.6%.
- At Sept. 30, 2022, its real estate portfolio totaled $11.6B vs. $11.4B at June 30..
- There will be no earnings conference call as the REIT agreed in September to be acquired by GIC and Blue Owl's ( OWL ) Oak Street for $14B in cash , a deal that's expected to close in Q1 2023.
- SA contributor Envision Research provides a last analysis on the REIT.
For further details see:
STORE Capital Q3 revenue, earnings continue to climb as it prepares to go private