Warren Buffett Bags Quick 29% Return in Store Capital
Warren Buffett's legendary stock-picking acumen has turned him into one of the richest people on the planet, and it appears he isn't losing his touch. Last quarter, the Oracle of Omaha's Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) gobbled up a nearly 10% stake in Store Capital (NYSE: STOR), a real estate investment trust (REIT) focused on stand-alone, service-oriented, retail businesses. With Store Capital's shares trading much higher than Berkshire Hathaway's acquisition price, the purchase is already panning out. Is there more room for this REIT's shares to run higher?
Traditional retail is losing sales to e-commerce, and that's causing a spike in vacant space at malls, yet Store Capital is humming along nicely because its tenants operate businesses that are more insulated against e-commerce's threat.
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Source: Fool.com
