Store Capital Corp (STOR) CEO Christopher Volk says his company’s stock is a growth stock that happens to be a REIT. He says the stock pays a nice dividend, but also has outsized growth potential as a result of the volume of acquisitions and the spreads the company has been realizing relative to its size.
“The biggest thing that’s driving our growth in cash flow, though, is new acquisitions,” Volk says.
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Store has been able to do new acquisitions at lease rates and borrowing spreads that are among the best in the company’s 35-year history of running net-lease companies, Volk says.
“By increasing our guidance from $850 million to $1 billion of acquisitions for 2015, a lot of that impact will not be felt in 2015 because these transactions will close at varying times during the year and won’t be outstanding for the full 12-month period, but they will definitely have a huge impact on 2016,” he says. “And the growth of our balance sheet is large enough to cause external growth like this to be material.”
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