STORE Capital
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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. The last earnings update was 45 days ago. More info.
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STOR Share Price and Events
7 Day Returns
1 Year Returns
STOR Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| STORE Capital (STOR) | 2.4% | 3.2% | 9.2% | 31.4% | 30.8% | - |
| US REITs | 0.5% | 1.4% | 4.6% | 13.1% | 10.7% | 26.5% |
| US Market | 0.5% | -0.1% | 1% | 0.8% | 37.5% | 37.5% |
1 Year Return vs Industry and Market
- STOR outperformed the REITs industry which returned 13.1% over the past year.
- STOR outperformed the Market in United States of America which returned 0.8% over the past year.
Price Volatility
Related Companies
Value
Is STORE Capital undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
STORE Capital
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for STORE Capital.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations | |
| Levered Adjusted Funds From Operations | Average of 8 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 7.5% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| REITs Unlevered Beta | Simply Wall St/ S&P Global | 0.49 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.493 (1 + (1- 21%) (41.7%)) |
0.769 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.8 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%) |
7.5% |
Discounted Cash Flow Calculation for NYSE:STOR using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model
The calculations below outline how an intrinsic value for STORE Capital is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
STORE Capital is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.
| Adjusted Funds From Operations (AFFO) (USD, Millions) | Source |
Present Value Discounted (@ 7.5%) |
|
|---|---|---|---|
| 2019 | 449.80 | Analyst x7 | 418.43 |
| 2020 | 519.43 | Analyst x7 | 449.50 |
| 2021 | 588.57 | Analyst x4 | 473.80 |
| 2022 | 622.00 | Analyst x1 | 465.79 |
| 2023 | 692.10 | Analyst x1 | 482.13 |
| 2024 | 741.92 | Est @ 7.2% | 480.79 |
| 2025 | 785.38 | Est @ 5.86% | 473.45 |
| 2026 | 824.01 | Est @ 4.92% | 462.09 |
| 2027 | 859.14 | Est @ 4.26% | 448.19 |
| 2028 | 891.81 | Est @ 3.8% | 432.78 |
| Present value of next 10 years cash flows | $4,586.95 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $891.81 × (1 + 2.73%) ÷ (7.5% – 2.73%) |
$19,214.61 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $19,214.61 ÷ (1 + 7.5%)10 |
$9,324.55 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $4,586.95 + $9,324.55 |
$13,911.50 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $13,911.50 / 226.77 |
$61.35 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $61.35 |
| Current discount | Discount to share price of
$35.17
= -1 x ($35.17 - $61.35) / $61.35 |
42.7% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- STORE Capital's share price is below the future cash flow value, and at a moderate discount (> 20%).
- STORE Capital's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for STORE Capital's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
STORE Capital's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in USD | $1.00 |
| NYSE:STOR Share Price ** | NYSE (2019-06-14) in USD | $35.17 |
| United States of America REITs Industry PE Ratio | Median Figure of 155 Publicly-Listed REITs Companies | 32.95x |
| United States of America Market PE Ratio | Median Figure of 3,094 Publicly-Listed Companies | 17.69x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of STORE Capital.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:STOR Share Price ÷ EPS (both in USD) = 35.17 ÷ 1.00 |
35.01x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- STORE Capital is overvalued based on earnings compared to the US REITs industry average.
- STORE Capital is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does
STORE Capital's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 35.01x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts |
11.5%per year |
| United States of America REITs Industry PEG Ratio | Median Figure of 142 Publicly-Listed REITs Companies | 2.42x |
| United States of America Market PEG Ratio | Median Figure of 2,125 Publicly-Listed Companies | 1.52x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 35.01x ÷ 11.5% |
3.05x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- STORE Capital is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
STORE Capital's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in USD | $17.65 |
| NYSE:STOR Share Price * | NYSE (2019-06-14) in USD | $35.17 |
| United States of America REITs Industry PB Ratio | Median Figure of 191 Publicly-Listed REITs Companies | 1.85x |
| United States of America Market PB Ratio | Median Figure of 5,244 Publicly-Listed Companies | 1.79x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:STOR Share Price ÷ Book Value per Share (both in USD) = 35.17 ÷ 17.65 |
1.99x |
* Primary Listing of STORE Capital.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- STORE Capital is overvalued based on assets compared to the US REITs industry average.
Value checks
We assess STORE Capital's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check) STORE Capital has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- STORE Capital's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- STORE Capital's earnings growth is positive but not above the United States of America market average.
- STORE Capital's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:STOR Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts | 11.5% |
| NYSE:STOR Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts | 11.6% |
| United States of America REITs Industry Earnings Growth Rate | Market Cap Weighted Average | 6.2% |
| United States of America REITs Industry Revenue Growth Rate | Market Cap Weighted Average | 4.5% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 13.9% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.3% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 8 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 1,016 | 348 | 2 | |
| 2022-12-31 | 921 | 310 | 2 | |
| 2021-12-31 | 839 | 274 | 5 | |
| 2020-12-31 | 743 | 256 | 8 | |
| 2019-12-31 | 653 | 213 | 8 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 572 | 399 | 212 |
| 2018-12-31 | 541 | 392 | 217 |
| 2018-09-30 | 514 | 363 | 201 |
| 2018-06-30 | 488 | 347 | 181 |
| 2018-03-31 | 471 | 328 | 180 |
| 2017-12-31 | 453 | 309 | 162 |
| 2017-09-30 | 435 | 293 | 153 |
| 2017-06-30 | 421 | 275 | 160 |
| 2017-03-31 | 399 | 263 | 129 |
| 2016-12-31 | 376 | 246 | 123 |
| 2016-09-30 | 354 | 239 | 115 |
| 2016-06-30 | 332 | 218 | 102 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 8 Analyst Estimates (S&P Global) | See Below |
All data from STORE Capital Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 1.22 | 1.23 | 1.20 | 2.00 |
| 2022-12-31 | 1.14 | 1.16 | 1.12 | 2.00 |
| 2021-12-31 | 1.06 | 1.10 | 1.01 | 3.00 |
| 2020-12-31 | 1.00 | 1.03 | 0.97 | 3.00 |
| 2019-12-31 | 0.92 | 0.94 | 0.90 | 3.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-03-31 | 1.00 |
| 2018-12-31 | 1.06 |
| 2018-09-30 | 1.01 |
| 2018-06-30 | 0.94 |
| 2018-03-31 | 0.96 |
| 2017-12-31 | 0.90 |
| 2017-09-30 | 0.90 |
| 2017-06-30 | 1.00 |
| 2017-03-31 | 0.84 |
| 2016-12-31 | 0.82 |
| 2016-09-30 | 0.81 |
| 2016-06-30 | 0.75 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess STORE Capital's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
STORE Capital has a total score of 2/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has STORE Capital performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- STORE Capital has delivered over 20% year on year earnings growth in the past 5 years.
- STORE Capital's 1-year earnings growth is less than its 5-year average (17.7% vs 34.1%)
- STORE Capital's earnings growth has exceeded the US REITs industry average in the past year (17.7% vs 16%).
Earnings and Revenue History
All data from STORE Capital Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 571.55 | 212.16 | 46.86 | |
| 2018-12-31 | 540.76 | 216.57 | 45.73 | |
| 2018-09-30 | 514.18 | 200.98 | 44.12 | |
| 2018-06-30 | 487.72 | 181.34 | 42.86 | |
| 2018-03-31 | 470.72 | 180.19 | 41.60 | |
| 2017-12-31 | 452.85 | 161.59 | 40.99 | |
| 2017-09-30 | 434.86 | 152.52 | 38.52 | |
| 2017-06-30 | 421.32 | 160.25 | 36.37 | |
| 2017-03-31 | 399.08 | 129.43 | 35.62 | |
| 2016-12-31 | 376.34 | 122.81 | 33.97 | |
| 2016-09-30 | 353.81 | 114.92 | 32.23 | |
| 2016-06-30 | 331.61 | 101.55 | 31.26 | |
| 2016-03-31 | 308.54 | 90.92 | 29.93 | |
| 2015-12-31 | 284.76 | 83.17 | 27.97 | |
| 2015-09-30 | 260.31 | 76.48 | 26.45 | |
| 2015-06-30 | 236.45 | 64.23 | 24.27 | |
| 2015-03-31 | 212.57 | 54.79 | 21.95 | |
| 2014-12-31 | 190.44 | 46.44 | 19.49 | |
| 2014-09-30 | 168.64 | 36.25 | 17.70 | |
| 2014-06-30 | 146.82 | 31.66 | 16.04 | |
| 2014-03-31 | 127.29 | 27.15 | 14.41 | |
| 2013-12-31 | 108.90 | 22.01 | 14.13 | |
| 2013-09-30 | 90.55 | 17.82 | 13.18 | |
| 2012-12-31 | 40.61 | 7.24 | 10.36 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- STORE Capital has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- STORE Capital used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
- STORE Capital's use of capital has not improved over the past 3 years (Return on Capital Employed).
Past performance checks
We assess STORE Capital's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
STORE Capital has a total score of 3/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is STORE Capital's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up STORE Capital's finances.
The net worth of a company is the difference between its assets and liabilities.
- STORE Capital is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- STORE Capital's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from STORE Capital Company Filings, last reported 2 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 3,989.16 | 3,325.75 | 37.35 |
| 2018-12-31 | 3,863.50 | 3,060.31 | 27.51 |
| 2018-09-30 | 3,618.70 | 2,956.43 | 25.60 |
| 2018-06-30 | 3,451.05 | 2,717.15 | 43.62 |
| 2018-03-31 | 3,262.67 | 2,724.63 | 35.12 |
| 2017-12-31 | 3,170.94 | 2,596.90 | 42.94 |
| 2017-09-30 | 3,093.21 | 2,393.78 | 34.99 |
| 2017-06-30 | 3,121.46 | 2,513.30 | 468.51 |
| 2017-03-31 | 2,736.98 | 2,528.47 | 103.30 |
| 2016-12-31 | 2,483.26 | 2,351.85 | 54.20 |
| 2016-09-30 | 2,404.82 | 2,159.98 | 30.04 |
| 2016-06-30 | 2,339.73 | 2,122.69 | 118.52 |
| 2016-03-31 | 2,046.35 | 2,008.62 | 30.96 |
| 2015-12-31 | 2,059.79 | 1,770.24 | 67.12 |
| 2015-09-30 | 1,775.52 | 1,828.37 | 28.97 |
| 2015-06-30 | 1,785.65 | 1,639.14 | 66.24 |
| 2015-03-31 | 1,571.70 | 1,441.64 | 30.32 |
| 2014-12-31 | 1,582.68 | 1,253.51 | 136.31 |
| 2014-09-30 | 1,040.84 | 1,489.87 | 44.40 |
| 2014-06-30 | 1,053.32 | 1,292.59 | 94.69 |
| 2014-03-31 | 843.68 | 1,180.68 | 55.21 |
| 2013-12-31 | 773.91 | 991.71 | 61.81 |
| 2013-09-30 | 619.34 | 837.44 | 32.84 |
| 2012-12-31 | 496.91 | 468.10 | 64.75 |
- STORE Capital's level of debt (82.7%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (139.7% vs 82.7% today).
- Debt is not well covered by operating cash flow (12.1%, less than 20% of total debt).
- Interest payments on debt are not well covered by earnings (EBIT is 2.4x annual interest expense, ideally 3x coverage).
Financial health checks
We assess STORE Capital's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) STORE Capital has a total score of 2/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
What is STORE Capital's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
STORE Capital
shares you are expected to receive
$75
in your first year as a dividend.
Dividend Amount
- STORE Capital's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
- STORE Capital's dividend is above the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 8 Analyst Estimates (S&P Global) | See Below |
| United States of America REITs Industry Average Dividend Yield | Market Cap Weighted Average of 185 Stocks | 3.8% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2011 Stocks | 2.5% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.5% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | 1.47 | 2.00 |
| 2022-12-31 | 1.44 | 2.00 |
| 2021-12-31 | 1.48 | 7.00 |
| 2020-12-31 | 1.41 | 9.00 |
| 2019-12-31 | 1.35 | 7.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-03-15 | 1.320 | 3.938 |
| 2018-12-17 | 1.320 | 4.291 |
| 2018-09-11 | 1.320 | 4.563 |
| 2018-06-15 | 1.240 | 4.439 |
| 2018-03-15 | 1.240 | 4.867 |
| 2017-12-15 | 1.240 | 5.068 |
| 2017-09-12 | 1.240 | 4.856 |
| 2017-06-15 | 1.160 | 4.945 |
| 2017-03-15 | 1.160 | 5.189 |
| 2016-12-15 | 1.160 | 4.766 |
| 2016-09-06 | 1.160 | 4.326 |
| 2016-06-15 | 1.080 | 3.678 |
| 2016-03-15 | 1.080 | 4.157 |
| 2015-12-15 | 1.080 | 4.510 |
| 2015-09-15 | 1.080 | 4.914 |
| 2015-06-15 | 1.000 | 4.815 |
| 2015-03-16 | 1.000 | 4.552 |
| 2014-12-15 | 1.000 | 4.518 |
| 2014-11-19 | 0.874 | 4.316 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Whilst dividend payments have been stable, STORE Capital has been paying a dividend for less than 10 years.
- Dividend payments have increased, but STORE Capital only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of
STORE Capital's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are covered by earnings (1.4x coverage).
- Dividends after 3 years are expected to be thoroughly covered by earnings (398.4x coverage).
Income/ dividend checks
We assess STORE Capital's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can STORE Capital afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) STORE Capital has a total score of 4/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | $6,255,537 |
| AGE | 61 |
| TENURE AS CEO | 8.1 years |
CEO Bio
Mr. Christopher H. Volk, also known as Chris, served as the Chief Executive Officer, President and Director of STORE Capital Corporation since May 2011 until 2019. Mr. Volk Co-Founded STORE Capital Corporation in May 2011. Previously, he Co-Founded Spirit Finance Corp in August 2003 and served as the Chief Executive Officer since September 6, 2005, President since August 2003 and Chief Operating Officer from August 2003 to September 6, 2005 at the firm. From 1986 until August 2001, he was the President and Chief Operating Officer at Franchise Finance Corporation of America and from August 2001 to December 2002 served as Chief Operating Officer of its successor, GE Franchise Finance. He also served as Assistant Secretary and Assistant Treasurer of Franchise Finance Corporation of America. Mr. Volk previously served as Executive Vice President of Franchise Finance Corporation of America from July 28, 1995 to December 31, 1999, Senior Vice President of Underwriting and Research from June 1, 1994 until July 28, 1995 and as Vice President of Research of FFCA I from October 1989 until June 1, 1994. He has been widely published in areas of finance, credit analysis and evaluation and has frequently served as a guest lecturer and conference speaker. He was a Director at Spirit Finance Corporation since August 2003 until February 2010. He serves as Independent Director of Paladin Realty Income Properties Inc. He served as Director of Franchise Finance Corporation of America since January 28, 2000. He has an extensive background in finance and asset management. Mr. Volk received an MBA from Georgia State University and a Bachelor of Arts Degree from Washington and Lee University.
CEO Compensation
- Chris's compensation has been consistent with company performance over the past year, both up more than 20%.
- Chris's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the STORE Capital management team in years:
- The average tenure for the STORE Capital management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Chris Volk
President
$6M
61
8.1 yrs
Cathy Long
Executive VP
$2M
61
8.1 yrs
Mary Fedewa
Co-Founder
$3M
52
8.1 yrs
Stacy LaFrance
Senior VP & Chief Accounting Officer
47
1.3 yrs
Moira Conlon
President
Board of Directors Tenure
Average tenure and age of the STORE Capital board of directors in years:
- The tenure for the STORE Capital board of directors is about average.
Board of Directors
Morton Fleischer
Non-Executive Chairman
$400K
81
8.1 yrs
Chris Volk
President
$6M
61
8.1 yrs
Mary Fedewa
Co-Founder
$3M
52
2.8 yrs
Quentin Smith
Independent Director
$165K
67
4.6 yrs
Joe Donovan
Independent Director
$173K
63
4.6 yrs
Raj Shourie
Independent Director
44
0.3 yrs
Einar Seadler
Independent Director
$155K
61
3.3 yrs
Bill Hipp
Independent Director
$155K
63
3.2 yrs
Katy Rice
Independent Director
$155K
58
1.7 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 29. Nov 18 | Buy | Joseph Donovan | Individual | 28. Nov 18 | 28. Nov 18 | 3,000 | $29.53 | $88,580 | ||
Management checks
We assess STORE Capital's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) STORE Capital has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
Should You Take Comfort From Insider Transactions At STORE Capital Corporation (NYSE:STOR)?
So we'll take a look at whether insiders have been buying or selling shares in STORE Capital Corporation (NYSE:STOR). … View our latest analysis for STORE Capital STORE Capital Insider Transactions Over The Last Year In the last twelve months, the biggest single purchase by an insider was when Independent Director Joseph Donovan bought US$89k worth of shares at a price of US$29.53 per share. … NYSE:STOR Recent Insider Trading, June 9th 2019 STORE Capital is not the only stock insiders are buying.
Simply Wall St - – Full articleSTORE Capital (NYSE:STOR) Shareholders Booked A 36% Gain In The Last Three Years
For example, the STORE Capital Corporation (NYSE:STOR) share price is up 36% in the last three years, slightly above the market return. … STORE Capital was able to grow its EPS at 12% per year over three years, sending the share price higher. … We note that for STORE Capital the TSR over the last 3 years was 56%, which is better than the share price return mentioned above.
Simply Wall St - – Full articleYou May Have Been Looking At STORE Capital Corporation (NYSE:STOR) All Wrong
real estate investment trust (REIT) based in Scottsdale, United States. … Below, I'll look at a few important metrics to keep in mind as part of your research on STOR … This term is very common in the REIT investing world as it provides a cleaner look at its cash flow from daily operations by excluding impact of one-off activities or non-cash items such as depreciation.
Simply Wall St - – Full articleHere's Why I Think STORE Capital (NYSE:STOR) Is An Interesting Stock
How Quickly Is STORE Capital Increasing Earnings Per Share. … Not all of STORE Capital's revenue this year is revenue from operations, so keep in mind the revenue and margin numbers I've used might not be the best representation of the underlying business. … STORE Capital maintained stable EBIT margins over the last year, all while growing revenue 19% to US$541m.
Simply Wall St - – Full articleWhat Do Analysts Think About STORE Capital Corporation's (NYSE:STOR) Earnings Outlook?
STORE Capital Corporation's (NYSE:STOR) released its most recent earnings update in December 2018, whicha
Simply Wall St - – Full articleLooking At STORE Capital Corporation (NYSE:STOR) From All Angles
As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook. … In the case of STORE Capital Corporation (NYSE:STOR), it
Simply Wall St - – Full articleSTORE Capital Corporation (NYSE:STOR): Is Growth Priced In?
STORE Capital Corporation (NYSE:STOR) is a stock well-positioned for future growth, but many investors are wondering whether its last closing price of $32 is based on unrealistic expectations. … Let’s look into this by assessing STOR's expected growth over the next few years. … Analysts are predicting good growth prospects for STORE Capital over the next couple of years
Simply Wall St - – Full articleDoes STORE Capital Corporation (NYSE:STOR) Create Value For Shareholders?
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … Our data shows STORE Capital has a return on equity of 5.6% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleSTORE Capital Corporation (NYSE:STOR): Poised For Long Term Success?
In September 2018, STORE Capital Corporation (NYSE:STOR) released its earnings update. … the consensus outlook from analysts appear somewhat bearish, … the higher past 5-year average growth rate of 38%
Simply Wall St - – Full articleYou May Have Been Looking At STORE Capital Corporation (NYSE:STOR) All Wrong
This impacts how STOR’s business operates and also how we should analyse its stock. … REIT investors should be familiar with the term Fund from Operations (FFO) – a REIT’s main source of cash flow from its day-to-day business activities … These items can distort the bottom line and not necessarily reflective of STOR’s daily operations
Simply Wall St - – Full articleCompany Info
Description
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 2,255 property locations, substantially all of which are profit centers, in 49 states.
Details
| Name: | STORE Capital Corporation |
| STOR | |
| Exchange: | NYSE |
| Founded: | |
| $7,975,646,046 | |
| 226,774,127 | |
| Website: | http://www.storecapital.com |
| Address: |
STORE Capital Corporation 8377 East Hartford Drive, Suite 100, Scottsdale, Arizona, 85255, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NYSE | STOR | Common Stock | New York Stock Exchange | US | USD | 18. Nov 2014 | |
| DB | S76 | Common Stock | Deutsche Boerse AG | DE | EUR | 18. Nov 2014 | |
| LSE | 0LA6 | Common Stock | London Stock Exchange | GB | USD | 18. Nov 2014 | |
| BMV | STOR * | Common Stock | Bolsa Mexicana de Valores | MX | MXN | 18. Nov 2014 |
Number of employees
Current staff
Industry
| Diversified REITs | |
| Real Estate |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/06/17 00:44 |
| End of day share price update: | 2019/06/14 00:00 |
| Last estimates confirmation: | 2019/05/30 |
| Last earnings filing: | 2019/05/03 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
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.
