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STORE Capital (STOR) investor relations material
STORE Capital Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Real estate investment portfolio reached $16.8 billion across 3,564 property locations in 49 states as of September 30, 2025, with 84% in long-term leases and 16% in mortgage loans and financing receivables.
Net income for Q3 2025 was $33.9 million, up from $32.3 million in Q3 2024; nine-month net income was $114.3 million, up from $84.4 million year-over-year.
Revenue growth was driven by portfolio expansion and rent escalations, partially offset by lower gains on property sales and higher interest and property costs.
Financial highlights
Q3 2025 total revenues were $305.6 million, up from $287.4 million in Q3 2024; nine-month revenues were $911.3 million, up from $842.1 million year-over-year.
Q3 2025 net income attributable to controlling interest was $33.8 million; nine-month net income attributable to controlling interest was $113.2 million.
Q3 2025 interest expense was $94.8 million, up from $91.7 million in Q3 2024, reflecting higher average debt and rates.
Q3 2025 depreciation and amortization expense was $147.5 million; nine-month expense was $443.7 million.
Q3 2025 provisions for impairment totaled $11.8 million; nine-month provisions were $26.3 million.
Outlook and guidance
Management expects continued portfolio growth through additional real estate investments, funded by a mix of debt, equity, and cash from operations.
Liquidity as of September 30, 2025, was $163.5 million in cash, with $876.4 million available on the revolving credit facility.
Management believes current liquidity and borrowing capacity are sufficient to fund operations and committed acquisitions for the next twelve months and beyond.
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