Spirit Realty Capital Inc. (SRC) Receives Average Rating of “Buy” from Analysts
Shares of Spirit Realty Capital Inc. (NYSE:SRC) have received an average rating of “Buy” from the twelve analysts that are presently covering the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $13.31.
A number of brokerages have recently issued reports on SRC. Zacks Investment Research downgraded Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Friday, August 12th. Janney Montgomery Scott began coverage on Spirit Realty Capital in a 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 upped their price target on Spirit Realty Capital from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, August 9th. BTIG Research began coverage on Spirit Realty Capital in a report on Thursday, August 25th. They set a “buy” rating and a $15.00 price target on the stock. Finally, Mizuho began coverage on Spirit Realty Capital in a report on Thursday, October 13th. They set a “buy” rating and a $14.50 price target on the stock.
In other 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 transaction, the chief executive officer now owns 858,186 shares of the company’s stock, valued at $11,353,800.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Phillip D. Joseph, Jr. acquired 2,516 shares of the firm’s stock in a transaction dated Thursday, November 10th. The stock was bought at an average cost of $10.75 per share, for a total transaction of $27,047.00. Following the purchase, the chief financial officer now directly owns 90,378 shares of the company’s stock, valued at $971,563.50. The disclosure for this purchase can be found here. 0.50% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Highbridge Capital Management LLC bought a new position in Spirit Realty Capital during the third quarter valued at approximately $11,066,000. D. E. Shaw & Co. Inc. increased its position in Spirit Realty Capital by 481.9% in the third quarter. D. E. Shaw & Co. Inc. now owns 335,164 shares of the real estate investment trust’s stock valued at $4,468,000 after buying an additional 277,561 shares during the period. The Manufacturers Life Insurance Company bought a new position in Spirit Realty Capital during the third quarter valued at approximately $5,916,000. Lazard Asset Management LLC boosted its stake in Spirit Realty Capital by 6,750.0% in the third quarter. Lazard Asset Management LLC now owns 38,360 shares of the real estate investment trust’s stock valued at $511,000 after buying an additional 37,800 shares in the last quarter. Finally, Advantus Capital Management Inc acquired a new stake in Spirit Realty Capital during the third quarter valued at about $7,571,000. 97.56% of the stock is currently owned by hedge funds and other institutional investors.
Spirit Realty Capital (NYSE:SRC) opened at 10.63 on Thursday. The stock has a market cap of $5.14 billion, a price-to-earnings ratio of 47.67 and a beta of 0.61. The firm’s 50-day moving average price is $12.21 and its 200-day moving average price is $12.52. Spirit Realty Capital has a 12-month low of $8.90 and a 12-month high of $13.97.
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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