2 Model Purchases Today

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We made 2 purchases in the 2014 Model today–both issues we had mentioned last week in this space.

1st off we have made a purchase of Store Capital (ticker:STOR) a new issue REIT (not a new REIT–they have been around since 2011).  As we mentioned in this short article last week Store Capital is a triple net lease owner of single tenant properties.  We look at them as a mini Realty Income (ticker:O).  Of course they are much smaller than Realty Income, but they do have 850 properties–all throughout the United States. They will be paying a minimum quarterly distribution to start of $1.00/annually which gives them a current yield of 5.01% on todays closing price of $19.98.  They came public at $18.50. Their website is here.

Additionally we added shares of THL Credit 6.75% Notes (ticker:TCRX) which began trading today. THL Credit is a BDC and we outlined the issue last week.  Details of the issue are here.  Of primary concern is we like the rather short duration of the issue (2021).


We will update the model later today.

Tim McPartland

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Tim McPartland
Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
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