> Warren Buffett Blog: Warren Buffett buys more REITs

Monday, June 26, 2017

Warren Buffett buys more REITs

Warren Buffett's firm acquired a nearly 10% stake in a real estate investment trust that controls single-tenant properties.

Berkshire Hathaway invested $377 million in shares of Store Capital, equaling a stake of about 9.8%, the REIT disclosed Monday. Berkshire paid $20.25 a share for 18.6 million shares of the internally managed net-lease real estate investment trust, Store Capital said in a statement. Store Capital shares are down 16% in 2017.

Store Capital owns a stake in more than 1,750 properties in 48 states.

Store Capital CEO Christopher Volk said in a statement.
“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.”