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This statistic highlights STORE Capital’s Number of Customers, reported on an annual basis from 2016 onwards.
STORE Capital’s Number of Customers
|Number of customers||360||397||434||478||519|
STORE Capital’s real estate investments are leased to approximately 520 customers geographically dispersed throughout 49 states. Only one state, Texas (10%), accounted for 10% or more of the total dollar amount of STORE Capital’s investment portfolio on December 31, 2020. None of the Company’s customers represented more than 10% of the Company’s real estate investment portfolio on December 31, 2020, with the largest customer representing 3.0% of the total investment portfolio. On an annualized basis, as of December 31, 2020, the largest customer represented 3.1% of the Company’s total investment portfolio revenues.
The company’s real estate investments are leased to 519 customers dispersed across 49 states geographically. On an annual basis, as of December 31, 2020, 3.1% of the STORE’s total investment portfolio revenues is represented by the largest customers. The company’s customers operate their businesses across almost 760 varied concepts. And the largest of these concepts represented 2.4% of the STORE’s total investment portfolio revenues.
As of the year 2019, the number of customers was 478. The number of customers in the year 2019 saw a growth of almost 10%.In 2018, the company had 434 customers. This year the company projected almost 9% of growth in its customer base. In the year 2017, this number was 397. This was 37 more than the last year’s customer base and accounted for a 10.2% increase.
The company mentions its 10 largest customers, namely-
1)Spring education group Inc -7 properties.
2)Fleet farm Group LLC – 9 properties
3)Bass Pro Group, LLC (Cabela’s)- 10 properties
4)Cadence Education, Inc. (Early childhood/elementary education)- 49 properties
5)Dufresne Spencer Group Holdings, LLC -25 properties
6)US LBM Holdings, LLC (Building materials distribution) – 57 properties
7)CWGS Group, LLC (Camping World/Gander Outdoors)-20 properties
8)American Multi-Cinema, Inc. (AMC/Carmike/Starplex)-14 properties
9)Loves Furniture, Inc.-19 properties
10)Zips Holdings, LLC-40 properties
All other (509 customers)-2634 properties
Individuals or organization who wants to operate their business on a property leased out by this company are evaluated based on Investment risk, i.e, the business which will be operated should have enough profitability to ensure timely payments on the company’s leases and loans.
About STORE Capital Corporation
It is the world leader in the acquisition, investment, and management of Single-tenant Operational real estate or STORE properties, which also the company considers its target market. This is also the inspiration behind the name of the Company. A place where the company operates its business and generates sales, making its profit is named STORE Property. This makes the profit centers a fundamentally crucial place for the company.
STORE is one of the fastest-growing and largest net-lease REITs having a diverse portfolio. As of December 31, 2020, the company’s 2634 property locations were handled and operated by 519 customers across the U.S.The customers come from a wide variety of industries within the services, manufacturing, and retail sectors in the U.S economy with health clubs, restaurants, early childhood education, metal fabrication, and automotive repair and maintenance representing the top industries in the company’s portfolio.
To continue to qualify as a REIT, the company must continue to meet certain tests which include that the company’s assets must consist primarily of real estate assets along with the condition that the income must be derived primarily from the real estate assets only. The company must distribute at least 90% of its REIT taxable income(except net capital gains) to the stakeholders of the company annually.
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