STORE Capital Remains a Solid Bet on a Reopening Economy
STORE Capital's (NYSE: STOR) 2020 is now in the books, and the real estate investment trust (REIT) finished an otherwise forgettable year in notable fashion. Despite a second round of coronavirus shutdowns in the fall, the company's portfolio of properties continued to make steady progress toward reopening. Plus, STORE's operations are heavily slanted toward suburbia -- the same areas Americans are quickly migrating to. This REIT remains an underrated and misunderstood way to invest in a gradual reopening of the economy.
STORE Capital posted revenue of $172.9 million in the fourth quarter, compared to $173.5 million in the same period the year before. Adjusted funds from operations (AFFO, a.REIT's equivalent of earnings) were $115.1 million, compared to $120.0 million last year. As was the case all year, AFFO was hurt by the temporary deferral of rent and interest payments, especially when for the tenants most impacted by shelter-in-place and social-distancing orders.
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Source Fool.com
