Spirit Realty Capital Inc. (NYSE:SRC) Given Average Rating of “Buy” by Brokerages
Shares of Spirit Realty Capital Inc. (NYSE:SRC) have received an average recommendation of “Buy” from the twelve research firms that are covering the company. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $13.14.
Several research analysts have commented on the company. Zacks Investment Research lowered Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report on Friday, August 12th. Janney Montgomery Scott assumed coverage on Spirit Realty Capital in a research report on Wednesday, September 7th. They set a “buy” rating and a $14.50 price target on the stock. They noted that the move was a valuation call. Wunderlich lifted their price target on Spirit Realty Capital from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. BTIG Research assumed coverage on Spirit Realty Capital in a research report on Thursday, August 25th. They set a “buy” rating and a $15.00 price target on the stock. Finally, Morgan Stanley raised Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $11.00 to $15.00 in a research report on Wednesday, September 7th.
Spirit Realty Capital (NYSE:SRC) traded up 0.08% during trading on Thursday, hitting $12.40. 3,356,451 shares of the stock traded hands. The company has a market cap of $5.95 billion, a P/E ratio of 55.36 and a beta of 0.54. Spirit Realty Capital has a 12 month low of $8.90 and a 12 month high of $13.97. The company’s 50 day moving average price is $13.27 and its 200 day moving average price is $12.39.
Spirit Realty Capital (NYSE:SRC) last released its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. The company had revenue of $171.70 million for the quarter, compared to analyst estimates of $164.29 million. Spirit Realty Capital had a return on equity of 2.91% and a net margin of 15.36%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. On average, equities research analysts anticipate that Spirit Realty Capital will post $0.87 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.175 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.65%. Spirit Realty Capital’s dividend payout ratio (DPR) is presently 304.36%.
In related news, CEO Thomas H. Nolan, Jr. sold 15,000 shares of Spirit Realty Capital stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $13.23, for a total value of $198,450.00. Following the sale, the chief executive officer now directly owns 858,186 shares in the company, valued at $11,353,800.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.50% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the company. Bayesian Capital Management LP purchased a new stake in Spirit Realty Capital during the first quarter worth approximately $119,000. Acadian Asset Management LLC purchased a new stake in Spirit Realty Capital during the second quarter worth approximately $137,000. New England Investment & Retirement Group Inc. purchased a new stake in Spirit Realty Capital during the second quarter worth approximately $139,000. Bellwether Investment Group LLC purchased a new stake in Spirit Realty Capital during the second quarter worth approximately $143,000. Finally, Boothbay Fund Management LLC purchased a new stake in Spirit Realty Capital during the first quarter worth approximately $127,000. Institutional investors own 95.35% of the company’s stock.
Spirit Realty Capital Company Profile
Spirit Realty Capital, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company’s operations are carried out through Spirit Realty, L.P. (the Operating Partnership). The Company invests in single-tenant, operationally essential real estate throughout the United States that is leased on a long-term, triple-net basis primarily to tenants engaged in retail, service and distribution industries.
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