DLA Piper-Led Store Capital Gets $377M Berkshire Investment

Berkshire Hathaway CEO Warren Buffett visits the BNSF booth before the Berkshire Hathaway annual meeting in Omaha Nebraska

Berkshire Hathaway CEO Warren Buffett visits the BNSF booth before the Berkshire Hathaway annual meeting in Omaha Thomson Reuters

Warren Buffett's Berkshire Hathaway Inc. took a 9.8 percent stake in Store Capital Corp.

A press release said Store issued 18.6 million shares of its stock in a private transaction with a subsidiary of Berkshire at $20.25 per share.

Berkshire's other investments tied to real estate include HomeServices of America, the second-largest US residential real estate brokerage, and Clayton Homes, which makes manufactured housing. So, most stocks that are involved with brick-and-mortar retail have fallen as well, and REITs that own retail real estate have not been spared.

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Store Capital is a so-called net-lease REIT, which buys single-tenant properties. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company's stock.

Store Capital's stock price is getting a huge boost from everyone's favorite Nebraskan investor.

On Friday, Shares of Cousins Properties Inc (NYSE:CUZ) increased 0.34% and closed at $8.94 after opening 8.93 with the overall traded volume of 11.25 million shares.

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Store Capital shares slid this past spring after the company reported disappointing earnings. Berkshire "saw an opportunity to invest at an attractive price, and they believe in us". Shares rose 10% Monday to $22.83.

"We will be the economic leader", Buffett said in the interview. It is not clear who at the company is directly responsible for the Store Capital investment.

One of Store Capital's top customers, sporting-goods chain Gander Mountain Co., filed for bankruptcy in March. Representatives for Camping World didn't immediately respond to a request for comment. He was referring to Berkshire Hathaway chairman Warren Buffett. But he also said that Berkshire's wholly owned furniture businesses have seen little effect from online shopping. That makes Berkshire its third-largest investor.

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