Spirit Realty Capital Inc. (SRC) Rating Increased to Outperform at Robert W. Baird
Spirit Realty Capital Inc. (NYSE:SRC) was upgraded by stock analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report issued on Monday. The firm presently has a $13.00 price objective on the real estate investment trust’s stock. Robert W. Baird’s price target suggests a potential upside of 19.82% from the stock’s previous close.
Several other equities analysts have also recently issued reports on SRC. Zacks Investment Research raised Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company 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 objective for the company. Morgan Stanley raised Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $11.00 to $15.00 in a report on Wednesday, September 7th. Janney Montgomery Scott began coverage on Spirit Realty Capital in a report on Wednesday, September 7th. They issued a “buy” rating and a $14.50 price target for the company. They noted that the move was a valuation call. Finally, Mizuho began coverage on Spirit Realty Capital in a report on Thursday, October 13th. They issued a “buy” rating and a $14.50 price target for the company. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $13.45.
Spirit Realty Capital (NYSE:SRC) opened at 10.85 on Monday. The stock’s 50 day moving average price is $11.74 and its 200-day moving average price is $12.47. The stock has a market capitalization of $5.25 billion, a PE ratio of 48.65 and a beta of 0.61. Spirit Realty Capital has a 12-month low of $8.90 and a 12-month high of $13.97.
In related news, CEO Thomas H. Nolan, Jr. sold 15,000 shares of the company’s stock in a transaction 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 completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jackson Hsieh bought 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The stock was acquired at an average price of $10.62 per share, with a total value of $100,890.00. Following the completion of the purchase, the insider now directly owns 430,970 shares of the company’s stock, valued at approximately $4,576,901.40. The disclosure for this purchase can be found here. 0.50% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its stake in Spirit Realty Capital by 2,571.3% in the third quarter. Tower Research Capital LLC TRC now owns 8,014 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 7,714 shares during the period. Boothbay Fund Management LLC purchased a new stake in Spirit Realty Capital during the first quarter worth about $127,000. Acadian Asset Management LLC purchased a new stake in Spirit Realty Capital during the second quarter worth about $137,000. New England Investment & Retirement Group Inc. purchased a new stake in Spirit Realty Capital during the second quarter worth about $139,000. Finally, Bellwether Investment Group LLC purchased a new stake in Spirit Realty Capital during the second quarter worth about $143,000. 97.31% of the stock is owned by hedge funds and other institutional investors.
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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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