STORE Capital: 3 Replacement REITs With Yields Between 7% To 10%

Summary

  • STORE Capital has offered a fine ride for investors, but that journey is ending.
  • The stock offers only 2% potential upside to the takeout price - and peers offer compelling relative value.
  • Spirit Realty offers a comparable portfolio and leverage ratio but trades at a 7.6% dividend yield.
  • I am most bullish on cannabis REITs, which offer yields as high as 10%.
  • Looking for a portfolio of ideas like this one? Members of Best Of Breed Growth Stocks get exclusive access to our subscriber-only portfolios. Learn More »

Flowering Cannabis Plants on a Farm in Greenhouse

kmatija

STORE Capital (NYSE:STOR) is set to be taken private, raising the question of whether the stock is worth holding until the close of that transaction, and which stocks can fill the void. While STOR remains a well-run company, it may not

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business overview

2022 STOR Q2 Presentation

tenant profitability

2022 STOR Q2 Presentation

acquisition pipeline

2022 STOR Q2 Presentation

acquisition vs dispositions

2022 STOR Q2 Presentation

portfolio overview

2022 SRC Q2 Presentation

tenant overview

2022 IIPRQ2 Presentation

dividend history

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portfolio overview

NewLake Capital September Presentation

dividend history

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This article was written by

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High conviction investment ideas in the winners of tomorrow.

Julian Lin is a top ranked financial analyst. Julian Lin runs Best Of Breed Growth Stocks, a research service uncovering high conviction ideas in the winners of tomorrow. 

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Disclosure: I/we have a beneficial long position in the shares of IIPR, NLCP, O either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: I am long all positions in the Best of Breed portfolio.

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