This High-Yielding Warren Buffett Stock Is Getting Acquired -- Here Are 2 Excellent Replacements to Buy
Warren Buffett's Berkshire Hathaway is about to lose one of its higher-yielding dividend stocks. STORE Capital (NYSE: STOR), a real estate investment trust (REIT) with a high dividend yield, has agreed to be taken private by GIC and Oak Street. Because of that, Berkshire and other investors relying on STORE to supply them with passive income will need to find a replacement.
Two excellent options for dividend-seeking Buffett followers to consider are Realty Income (NYSE: O) and W.P. Carey (NYSE: WPC). Here's why investors who own STORE should consider rolling their proceeds into one of those two excellent dividend-paying alternatives.
GIC and Oak Street have agreed to acquire STORE Capital in an all-cash transaction, valuing the REIT at $14 billion. They're paying $32.25 per share in cash. That price represents a premium of 20.4% to the REIT's stock price the day before the deal's announcement and a 17.8% premium to its stock price over the last 90 days.
Source Fool.com
