Free Research Report as STORE’s Quarterly Revenues Advanced 17.6% and AFFO Rose 22.4%

Stock Monitor: Transcontinental Realty Investors Post Earnings Reporting

LONDON, UK / ACCESSWIRE / April 6, 2018 / Active-Investors.com has just released a free earnings report on STORE Capital Corp. (NYSE: STOR) (“STORE”). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=STOR. The Company reported its fourth quarter fiscal 2017 and the full fiscal year 2017 operating and financial results on February 22, 2018. The real estate investment trust (REIT) Company, based in Scottsdale, Arizona, surpassed top- and bottom-line expectations and also provided guidance for FY18. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Transcontinental Realty Investors, Inc. (NYSE: TCI), which also belongs to the Financial sector as the Company STORE Capital. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=TCI

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, the STORE Capital most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=STOR

Earnings Highlights and Summary

For the fourth quarter of the fiscal year 2017, STORE generated total revenues of $120.1 million, reflecting an increase of 17.6% from $102.1 million in Q4 2016. The Company’s revenue numbers beat analysts’ estimates of $110.0 million.

For the full fiscal year 2017, STORE’s total revenues were $452.8 million, up 20.3% from $376.3 million in FY16. The increase was driven primarily by the growth in the size of the Company’s real estate investment portfolio.

During Q4 2017, STORE reported a net income of $41.0 million, or $0.21 per diluted share, compared to $31.9 million, or $0.20 per diluted share, in Q4 2016. The Company’s reported quarter results included an aggregate net gain on the dispositions of real estate of $3.8 million compared to $3.7 million for the prior year’s same quarter.

For Q4 2017, STORE’s adjusted funds from operations (AFFO) increased 22.4% to $82.2 million, or $0.43 per diluted share, compared to $67.1 million, or $0.43 per diluted share, in Q4 2016.

For the full fiscal year ended December 31, 2017, STORE’s net income was $162.0 million, or $0.90 per basic and diluted share, compared to $123.3 million, or $0.82 per basic and diluted share, in FY16. The Company’s net income included an aggregate of $39.6 million net gain on dispositions of real estate in FY17 compared to $13.2 million in FY16. STORE’s net income also included $20.0 million of non-cash charges in FY17.

For FY17, STORE’s AFFO were $306.1 million, or $1.71 per diluted share, compared to $245.8 million, or $1.64 per diluted share, in FY16. The increase in AFFO on a y-o-y basis was primarily driven by additional rental revenues and interest income generated by the growth in the Company’s real estate investment portfolio.

Real Estate Portfolio Highlights

Investment Activity – During Q4 2017, STORE originated gross investments of $366.2 million, representing 110 property locations, adding 15 new customers. These investments had a weighted average initial cap rate of 7.9%. The Company’s total investment activity was $1.37 billion in FY17, representing 316 property locations with an initial weighted average cap rate of 7.8%.

Disposition Activity – During FY17, STORE sold 55 properties and recognized an aggregate net gain on the dispositions of real estate of $39.6 million; 15 of these 55 properties were sold for an aggregate net gain of $3.8 million in Q4 2017.

Portfolio – On December 31, 2017, STORE’s real estate portfolio totaled $6.2 billion, representing 1,921 property locations. Approximately 96% of the portfolio represented commercial real estate properties subject to long-term leases; 4% represented mortgage loans and direct financing receivables, primarily on commercial real estate buildings; and a nominal amount represented loans receivable secured by the tenants’ other assets. As of December 31, 2017, the portfolio’s annualized base rent and interest totaled $501.0 million compared to $418.5 million a year ago. The weighted average non-cancelable remaining term of the leases was approximately 14 years at December 31, 2017.

Capital Transactions

During FY17, STORE’s corporate credit rating was upgraded by both S&P Global Ratings and Fitch Ratings to BBB with a stable outlook. The Company also received an initial investment grade issuer rating of Baa2 with a stable outlook from Moody’s Investors Service.

During Q4 2017, STORE sold approximately 3.7 million shares under its $400 million at the market (ATM) program and raised approximately $94.7 million in net proceeds after the payment of sales agents’ commissions and offering expenses. Since the start of its ATM program in September 2016, the Company has sold approximately 11.9 million shares at a weighted average share price of $26.16, raising $304.1 million in aggregate net proceeds.

Outlook

For FY18, STORE is forecasting AFFO per share to be within a range of $1.78 to $1.84, based on a projected 2018 annual real estate acquisition volume, net of projected property sales, of approximately $900 million. This AFFO per share guidance equates to anticipated net income, excluding gains or losses on sales of property, of $0.82 to $0.86 per share; plus $0.88 to $0.90 per share of expected real estate depreciation and amortization; plus approximately $0.08 per share related to such items as straight-line rent and the amortization of stock-based compensation and deferred financing costs.

Stock Performance Snapshot

April 05, 2018 – At Thursday’s closing bell, STORE Capital’s stock dropped 1.02%, ending the trading session at $25.27.

Volume traded for the day: 1.68 million shares.

Stock performance in the last month – up 3.14%; previous six-month period – up 0.32%; and past twelve-month period – up 4.81%

After yesterday’s close, STORE Capital’s market cap was at $4.90 billion.

Price to Earnings (P/E) ratio was at 36.84.

The stock has a dividend yield of 4.91%.

The stock is part of the Financial sector, categorized under the REIT – Diversified industry. This sector was up 0.6% at the end of the session.

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