Highlights
For the quarter ended June 30, 2018:
Total revenues of $131.2 million
Net income of $62.2 million, or $0.31 per basic and diluted share, including an aggregate net gain of $19.9 million on dispositions of real estate
AFFO of $91.1 million, or $0.46 per basic share and $0.45 per diluted share
Declared a regular quarterly cash dividend per common share of $0.31
Invested $335.1 million in 111 properties at a weighted average initial cap rate of 8.0%
Raised net proceeds of $187.3 million from the sale of an aggregate of approximately 7.1 million common shares under the Company’s at-the-market equity program
Management Commentary
“This year marks our fourth consecutive year of realizing investment activity in excess of $100 million monthly for the first half of the year,” said Christopher Volk, Chief Executive Officer. “But what sets this quarter apart is our record investment granularity. Our expanded business development efforts are evident, with more than fifty transactions averaging just $6.5 million each. This work is foundational to our future growth, sustained high level of investment diversity, and the delivery of superior property-level investment returns. We concluded the quarter with solid portfolio performance, a balance sheet positioned for sustained growth and a more protected shareholder dividend, all of which are exciting as we look forward to fulfilling our potential for the second half of the year.”
Press Release | STORE Capital
