Mizuho initiated coverage on shares of Spirit Realty Capital Inc. (NYSE:SRC) in a research note issued to investors on Thursday. The brokerage issued a buy rating and a $14.50 price target on the real estate investment trust’s stock.

Other equities analysts have also issued reports about the company. Janney Montgomery Scott started coverage on Spirit Realty Capital in a research report on Wednesday, September 7th. They set a buy rating and a $14.50 target price on the stock. They noted that the move was a valuation call. Zacks Investment Research raised Spirit Realty Capital from a hold rating to a buy rating and set a $15.00 price target for the company in a research report on Tuesday, August 9th. Wunderlich increased their price target on Spirit Realty Capital from $14.00 to $15.00 and gave the company a buy rating in a research report on Tuesday, August 9th. BTIG Research initiated coverage on Spirit Realty Capital in a research report on Thursday, August 25th. They issued a buy rating and a $15.00 price target for the company. Finally, Morgan Stanley raised Spirit Realty Capital from an equal weight rating to an overweight rating and increased their price target for the company from $11.00 to $15.00 in a research report on Wednesday, September 7th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $13.18.

Analyst Recommendations for Spirit Realty Capital (NYSE:SRC)

Shares of Spirit Realty Capital (NYSE:SRC) traded up 0.16% during midday trading on Thursday, hitting $12.64. 1,509,474 shares of the stock were exchanged. The stock’s 50-day moving average price is $13.10 and its 200-day moving average price is $12.43. Spirit Realty Capital has a 1-year low of $8.90 and a 1-year high of $13.97. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 56.43 and a beta of 0.54.

Spirit Realty Capital (NYSE:SRC) last issued its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Spirit Realty Capital had a return on equity of 2.91% and a net margin of 15.36%. The company had revenue of $171.70 million for the quarter, compared to analyst estimates of $164.29 million. During the same period in the prior year, the firm earned $0.22 earnings per share. Spirit Realty Capital’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, analysts forecast that Spirit Realty Capital will post $0.87 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $0.175 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.70 annualized dividend and a yield of 5.55%. Spirit Realty Capital’s dividend payout ratio is currently 304.36%.

In other Spirit Realty Capital news, CEO Thomas H. Nolan, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $13.23, for a total value of $198,450.00. Following the completion of the transaction, the chief executive officer now owns 858,186 shares in the company, valued at approximately $11,353,800.78. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. TIAA CREF Investment Management LLC increased its position in shares of Spirit Realty Capital by 73.2% in the first quarter. TIAA CREF Investment Management LLC now owns 1,054,822 shares of the real estate investment trust’s stock valued at $11,867,000 after buying an additional 445,690 shares in the last quarter. BlackRock Inc. boosted its stake in Spirit Realty Capital by 16.6% in the first quarter. BlackRock Inc. now owns 439,706 shares of the real estate investment trust’s stock valued at $4,946,000 after buying an additional 62,525 shares during the last quarter. BlackRock Group LTD boosted its stake in Spirit Realty Capital by 3.2% in the first quarter. BlackRock Group LTD now owns 2,945,023 shares of the real estate investment trust’s stock valued at $33,131,000 after buying an additional 91,113 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Spirit Realty Capital by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 14,353,841 shares of the real estate investment trust’s stock valued at $161,481,000 after buying an additional 58,982 shares during the last quarter. Finally, BlackRock Japan Co. Ltd boosted its stake in Spirit Realty Capital by 1.7% in the first quarter. BlackRock Japan Co. Ltd now owns 23,507 shares of the real estate investment trust’s stock valued at $264,000 after buying an additional 384 shares during the last quarter. Institutional investors and hedge funds 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.

5 Day Chart for NYSE:SRC

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