Spirit Realty Capital Inc. (NYSE:SRC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

According to Zacks, “Spirit Realty Capital, Inc. is a real estate investment trust. It acquires single tenant, operationally essential real estate where the tenants conduct retail, service or distribution activities. The Company has investments throughout the United States. Its portfolio of properties is leased to tenants operating in different industries which includes restaurants; general, specialty and discount retailers; movie theatres; education facilities; health, fitness and recreational facilities; automotive dealers, parts and service facilities; and supermarkets. Spirit Realty Capital, Inc. is based in Scottsdale, Arizona. “

Several other research analysts also recently commented on the company. Wunderlich increased their price objective on Spirit Realty Capital from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. BTIG Research initiated coverage on Spirit Realty Capital in a research note on Thursday, August 25th. They issued a “buy” rating and a $15.00 price objective for the company. Morgan Stanley raised Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $11.00 to $15.00 in a research note on Wednesday, September 7th. Janney Montgomery Scott initiated coverage on Spirit Realty Capital in a research note on Wednesday, September 7th. They issued a “buy” rating and a $14.50 price objective for the company. They noted that the move was a valuation call. Finally, Mizuho initiated coverage on Spirit Realty Capital in a research note on Thursday, October 13th. They issued a “buy” rating and a $14.50 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. 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) opened at 12.64 on Wednesday. Spirit Realty Capital has a 52-week low of $8.90 and a 52-week high of $13.97. The stock’s 50 day moving average price is $13.05 and its 200 day moving average price is $12.47. The company has a market capitalization of $6.06 billion, a P/E ratio of 56.43 and a beta of 0.54.

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

The business also recently announced a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Friday, September 30th were given a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 5.54%. The ex-dividend date was Wednesday, September 28th. Spirit Realty Capital’s payout ratio is 304.36%.

In other news, CEO Thomas H. Nolan, Jr. sold 15,000 shares of the company’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 sale, the chief executive officer now owns 858,186 shares of the company’s stock, valued at $11,353,800.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. TIAA CREF Investment Management LLC increased its stake 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 during the last quarter. BlackRock Inc. increased its stake in shares of 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 increased its stake in shares of 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. increased its stake in shares of 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 increased its stake in shares of 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. 95.35% of the stock is owned by institutional investors.

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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