Warren Buffett Buys $377 Million of Rental REIT (BRK.A, STOR)

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Warren Buffett Buys $377 Million of Rental REIT (BRK.A, STOR)
A) made its second venture into the real estate sector within a week Monday when it took a 9.8 percent
stake in Store Capital Corp. (STOR), an Arizona-based real estate investment trust (REIT).
Store Capital markets itself as a leader in “Single Tenant Operational Real Estate,”
and has investments in over 1750 property locations with a total value over $5.5 billion as at 31 March 2017, according to the company’s website.
Berkshire Hathaway will invest $377 million into Store Capital, making it the third biggest shareholder in the company behind Vanguard Group
and Fidelity Management & Research, according to data from Factset.
Store CEO said that Berkshire Hathaway’s investment solidly positions STORE for continued
growth, while adding measurably to our already strong financial position,
“An investment in our company from one of history’s most admired investors represents a vote of confidence in our experienced leadership team
and an affirmation of our profit-center real estate investment and management approach.”
However, after the news of the Berkshire Hathaway investment, shares have risen 10 percent in early Monday trading.


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