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This statistic highlights STORE Capital’s Number of Properties, split across various industries, on an annual basis from 2016 onwards.
STORE capital corporation is the internally-managed net lease real estate investment trust or REIT. The company works on the Net-lease model and sustainability.
|Industry||2016||2017||2018||2019||2020||Contribution in 2020|
|Restaurants – Limited Service||393||399||395||393||377||17.60%|
|Restaurant – Full Service||322||372||403||395||373||17.40%|
|Early Childhood Education||167||174||185||213||244||11.40%|
|Automotive Repair and Maintenance||84||71||38||173||176||8.20%|
|Lumber and Construction Materials Wholesalers||NIL||7||59||114||124||5.80%|
|Medical and Dental||NIL||19||7||37||116||5.40%|
|Equipment Sales and Leasing||NIL||6||6||8||51||2.40%|
|Metal and Mineral Merchant Wholesalers||NIL||44||6||6||26||1.20%|
|Elementary and Secondary Schools||NIL||39||38||49||15||0.70%|
|Wholesale Automobile Auction||NIL||27||19||8||8||0.40%|
According to the Net-lease model and sustainability model, the company acquires the property from the business owners and leases their property back to the business under the net lease, all of which are triple-net. Under the triple net lease, the customer(the tenant) is the sole responsible for the conduction of the business at the property to the lease. To keep the property in good order and timely repairing, remodeling, and updating the building, is the tenant’s concern. Payment of insurance, property taxes, and other property-related expenses also needs to be done by the tenant. The company cannot be called a real estate operator, rather they provide real estate financing solutions to customers seeking a long-term alternative to real estate ownership at a lower cost. After a successful acquisition of the property, it is the customer and not the company that controls the property concerning the decision as to when and how to implement environmentally sustainable practices at a given property.(All the values are in the absolute figure, except the percentage)
There are several categories or say industries such as the early childhood education sector, restaurants, automotive repair and maintenance, etc. in which the company has its properties. But the major area which is under STORE’s asset class is Restaurants with Limited Service.
The company owns 377 Restaurants(limited services) properties which are approximately 17.6% of the total properties. Out of the total, 373 properties are of Restaurants(Full services).244 properties are leased out for Early Childhood Education which is almost 11.4% of the total properties. The category of Automotive repair and maintenance constitutes 176 properties, Behavioral health constitutes 72 properties, Elementary and secondary education constitutes 15 properties, equipment sales and leasing constitutes 51 properties, family entertainment constitutes 41 properties, health clubs constitutes 93 properties, logistics constitutes 23 properties, lumber and construction materials wholesalers constitutes 124 properties, medical and dental constitutes 116 properties, along with many others.
Observing the data on a YoY basis, Restaurants saw a continuous addition to the number of properties. This was the same with the Early childhood education category. Till 2019, properties leased out to the family entertainment category were consistent enough but in the year 2020, this category got a major chunk of properties.
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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