STORE Capital
Market Cap
US$4.7b
Last Updated
2020/06/01 12:21 UTC
Data Sources
Company Financials +
Executive Summary
STORE Capital Corporation is an internally managed net-lease real estate investment trust, or REIT, that is the leader in the acquisition, investment and management of Single Tenant Operational Real Estate, which is its target market and the inspiration for its name.
Rewards
Risk Analysis
+ 1 more risk
Snowflake Analysis
Undervalued with proven track record and pays a dividend.
Similar Companies
Share Price & News
How has STORE Capital's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: STOR's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
3.3%
STOR
5.0%
US REITs
3.0%
US Market
1 Year Return
-44.1%
STOR
-10.1%
US REITs
9.9%
US Market
Return vs Industry: STOR underperformed the US REITs industry which returned -10.1% over the past year.
Return vs Market: STOR underperformed the US Market which returned 9.9% over the past year.
Shareholder returns
| STOR | Industry | Market | |
|---|---|---|---|
| 7 Day | 3.3% | 5.0% | 3.0% |
| 30 Day | 0.7% | 4.8% | 8.2% |
| 90 Day | -41.9% | -13.7% | 0.4% |
| 1 Year | -41.4%-44.1% | -6.3%-10.1% | 12.4%9.9% |
| 3 Year | 8.4%-5.9% | 10.1%-3.5% | 31.0%22.3% |
| 5 Year | 18.4%-6.2% | 40.5%11.5% | 58.1%40.3% |
Price Volatility Vs. Market
How volatile is STORE Capital's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall St
How STORE Capital Corporation (NYSE:STOR) Can Impact Your Portfolio Volatility1 month ago | Simply Wall St
Should Weakness in STORE Capital Corporation's (NYSE:STOR) Stock Be Seen As A Sign That Market Will Correct The Share Price Given Decent Financials?2 months ago | Simply Wall St
Independent Director Joseph Donovan Just Bought Shares In STORE Capital Corporation (NYSE:STOR)Valuation
Is STORE Capital undervalued compared to its fair value and its price relative to the market?
42.7%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: STOR ($19.34) is trading below our estimate of fair value ($33.78)
Significantly Below Fair Value: STOR is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: STOR is good value based on its PE Ratio (15.1x) compared to the REITs industry average (27.4x).
PE vs Market: STOR is good value based on its PE Ratio (15.1x) compared to the US market (15.7x).
Price to Earnings Growth Ratio
PEG Ratio: STOR is poor value based on its PEG Ratio (4.9x)
Price to Book Ratio
PB vs Industry: STOR is good value based on its PB Ratio (1x) compared to the US REITs industry average (1.3x).
Next Steps
Future Growth
How is STORE Capital forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
3.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: STOR's forecast earnings growth (3.1% per year) is above the savings rate (2.2%).
Earnings vs Market: STOR's earnings (3.1% per year) are forecast to grow slower than the US market (22% per year).
High Growth Earnings: STOR's earnings are forecast to grow, but not significantly.
Revenue vs Market: STOR's revenue (5.2% per year) is forecast to grow slower than the US market (8.8% per year).
High Growth Revenue: STOR's revenue (5.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: STOR's Return on Equity is forecast to be low in 3 years time (6.5%).
Next Steps
Past Performance
How has STORE Capital performed over the past 5 years?
28.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: STOR has a large one-off gain of $67.8M impacting its March 31 2020 financial results.
Growing Profit Margin: STOR's current net profit margins (44.5%) are higher than last year (37.1%).
Past Earnings Growth Analysis
Earnings Trend: STOR's earnings have grown significantly by 28.8% per year over the past 5 years.
Accelerating Growth: STOR's earnings growth over the past year (42.1%) exceeds its 5-year average (28.8% per year).
Earnings vs Industry: STOR earnings growth over the past year (42.1%) exceeded the REITs industry 5.3%.
Return on Equity
High ROE: STOR's Return on Equity (6.6%) is considered low.
Next Steps
Financial Health
How is STORE Capital's financial position?
Financial Position Analysis
Short Term Liabilities: STOR's short term assets ($1.1B) exceed its short term liabilities ($192.6M).
Long Term Liabilities: STOR's short term assets ($1.1B) do not cover its long term liabilities ($4.2B).
Debt to Equity History and Analysis
Debt Level: STOR's debt to equity ratio (91%) is considered high.
Reducing Debt: STOR's debt to equity ratio has reduced from 91.7% to 91% over the past 5 years.
Debt Coverage: STOR's debt is not well covered by operating cash flow (11.4%).
Interest Coverage: STOR's interest payments on its debt are not well covered by EBIT (2.5x coverage).
Balance Sheet
Next Steps
Dividend
What is STORE Capital's current dividend yield, its reliability and sustainability?
7.24%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: STOR's dividend (7.24%) is higher than the bottom 25% of dividend payers in the US market (1.69%).
High Dividend: STOR's dividend (7.24%) is in the top 25% of dividend payers in the US market (4.54%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, STOR has been paying a dividend for less than 10 years.
Growing Dividend: STOR's dividend payments have increased, but the company has only paid a dividend for 6 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (69.2%), STOR's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: STOR's dividends in 3 years are forecast to be thoroughly covered by earnings (0.3% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
9.1yrs
Average management tenure
CEO
Chris Volk (62yo)
9.08yrs
Tenure
US$7,426,429
Compensation
Mr. Christopher H. Volk, also known as Chris, has served as the Chief Executive Officer, President and Director of STORE Capital Corporation since May 2011. Mr. Volk Co-Founded STORE Capital Corporation in ...
CEO Compensation Analysis
Compensation vs Market: Chris's total compensation ($USD7.43M) is about average for companies of similar size in the US market ($USD5.91M).
Compensation vs Earnings: Chris's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 9.08yrs | US$7.43m | 0.28% $13.3m | |
| Executive VP | 9.08yrs | US$3.04m | 0.11% $5.1m | |
| Co-Founder | 3.83yrs | US$4.75m | 0.11% $5.2m | |
| Executive VP | 0.83yr | US$1.51m | 0.0038% $178.1k | |
| Senior VP & Chief Accounting Officer | 2.33yrs | no data | 0.0061% $286.2k | |
| Head of Investor Relations | no data | no data | no data |
9.1yrs
Average Tenure
53yo
Average Age
Experienced Management: STOR's management team is seasoned and experienced (9.1 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 9.08yrs | US$7.43m | 0.28% $13.3m | |
| Co-Founder | 3.83yrs | US$4.75m | 0.11% $5.2m | |
| Independent Non-Executive Chairman | 9.08yrs | US$399.98k | 0.20% $9.7m | |
| Independent Director | 5.58yrs | US$179.99k | 0.0086% $405.7k | |
| Independent Director | 2.67yrs | US$164.99k | 0.0036% $170.0k | |
| Independent Director | 4.33yrs | US$164.99k | 0.0080% $377.9k | |
| Independent Director | 5.58yrs | US$184.99k | 0.032% $1.5m | |
| Independent Director | 0.33yr | no data | 0.0015% $72.3k | |
| Independent Director | 4.17yrs | US$164.99k | 0.013% $599.9k |
4.3yrs
Average Tenure
62yo
Average Age
Experienced Board: STOR's board of directors are considered experienced (4.3 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: STOR insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 7.7%.
Top Shareholders
Company Information
STORE Capital Corporation's company bio, employee growth, exchange listings and data sources
Key Information
- Name: STORE Capital Corporation
- Ticker: STOR
- Exchange: NYSE
- Founded:
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: US$4.723b
- Shares outstanding: 244.23m
- Website: https://www.storecapital.com
Number of Employees
Location
- STORE Capital Corporation
- 8377 East Hartford Drive
- Suite 100
- Scottsdale
- Arizona
- 85255
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| STOR | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | Nov 2014 |
| S76 | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Nov 2014 |
| 0LA6 | LSE (London Stock Exchange) | Yes | Common Stock | GB | USD | Nov 2014 |
| STOR * | BMV (Bolsa Mexicana de Valores) | Yes | Common Stock | MX | MXN | Nov 2014 |
Biography
STORE Capital Corporation is an internally managed net-lease real estate investment trust, or REIT, that is the leader in the acquisition, investment and management of Single Tenant Operational Real Estate, which is its target market and the inspiration for its name. STORE Capital is one of the largest and fastest growing net-lease REITs and owns a large, well-diversified portfolio that consists of investments in more than 2,500 property locations across the United States, substantially all of which are profit centers.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/06/01 12:21 |
| End of Day Share Price | 2020/05/29 00:00 |
| Earnings | 2020/03/31 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.