STORE CAPITAL Corporation — Cyborg Score 7/10

Strategic Profile

The company acquires STORE properties from business owners and then leases the properties back to the business owners under net-leases, substantially all of which are triple-net. Following a $15 billion acquisition by GIC and Oak Street in February 2023, the company transitioned to private ownership.

Cyborg Score Rationale

Established net-lease REIT with diversified portfolio across service, retail, and industrial sectors; backed by institutional investors GIC and Oak Street following February 2023 acquisition; strong dividend history as public company with 5.1% yield.

Top Insights

• Diversified portfolio of 2,866+ property locations operated by approximately 556 customers across multiple service, retail, and industrial sectors
• Triple-net lease structure provides stable, recurring revenue streams with limited operational responsibilities
• Transitioned to private ownership (February 2023) after 8+ years as public company, enabling potentially longer-term investment strategy
• Previously included in S&P MidCap 400; historically attracted major investors including Berkshire Hathaway (9.8% stake pre-acquisition)

Named Competitors

• Realty Income — Leading net-lease REIT with diversified portfolio
• Agree Realty — Net-lease REIT focused on retail and service properties
• Lexington Realty Trust — Net-lease REIT with industrial and retail focus

Recent Developments

• (February 2023) Completed $15 billion acquisition by GIC and Oak Street Capital; transitioned to private ownership
• (December 2022) Stockholders approved acquisition; CFIUS approval granted
• (November 2022) Proxy advisory firms ISS and Glass Lewis recommended stockholders vote for acquisition

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