Wall Street brokerages expect that Spirit Realty Capital, Inc. (NYSE:SRC) will post $0.20 earnings per share for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Spirit Realty Capital’s earnings. The highest EPS estimate is $0.21 and the lowest is $0.19. Spirit Realty Capital posted earnings of $0.06 per share during the same quarter last year, which indicates a positive year over year growth rate of 233.3%. The business is scheduled to report its next quarterly earnings report on Wednesday, November 1st.

According to Zacks, analysts expect that Spirit Realty Capital will report full-year earnings of $0.80 per share for the current fiscal year, with EPS estimates ranging from $0.76 to $0.84. For the next financial year, analysts expect that the firm will post earnings of $0.81 per share, with EPS estimates ranging from $0.75 to $0.86. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for Spirit Realty Capital.

Spirit Realty Capital (NYSE:SRC) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. Spirit Realty Capital had a return on equity of 1.74% and a net margin of 9.47%. The company had revenue of $168.65 million during the quarter, compared to the consensus estimate of $163.19 million. During the same quarter last year, the company earned $0.22 earnings per share. Spirit Realty Capital’s quarterly revenue was down 1.8% compared to the same quarter last year.

Several equities research analysts have recently commented on the company. Ladenburg Thalmann Financial Services cut Spirit Realty Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, May 4th. Sandler O’Neill cut Spirit Realty Capital from a “buy” rating to a “hold” rating and lowered their target price for the company from $13.00 to $9.00 in a research note on Thursday, May 4th. Janney Montgomery Scott cut Spirit Realty Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, May 4th. Mizuho cut Spirit Realty Capital from a “neutral” rating to an “underperform” rating in a research note on Thursday, May 4th. Finally, J P Morgan Chase & Co cut Spirit Realty Capital from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $13.00 to $9.00 in a research note on Thursday, May 4th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Spirit Realty Capital currently has a consensus rating of “Hold” and a consensus target price of $10.20.

In other Spirit Realty Capital news, CFO Phillip D. Joseph, Jr. bought 6,700 shares of Spirit Realty Capital stock in a transaction on Friday, June 2nd. The shares were purchased at an average cost of $7.47 per share, for a total transaction of $50,049.00. Following the completion of the acquisition, the chief financial officer now owns 134,868 shares in the company, valued at approximately $1,007,463.96. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Todd A. Dunn bought 14,000 shares of Spirit Realty Capital stock in a transaction on Thursday, August 10th. The shares were acquired at an average price of $8.49 per share, for a total transaction of $118,860.00. Following the completion of the acquisition, the director now owns 64,560 shares of the company’s stock, valued at approximately $548,114.40. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 44,797 shares of company stock worth $357,009. Corporate insiders own 0.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of SRC. Cetera Investment Advisers acquired a new position in Spirit Realty Capital during the second quarter valued at $376,000. Dynamic Technology Lab Private Ltd raised its position in Spirit Realty Capital by 21.6% in the second quarter. Dynamic Technology Lab Private Ltd now owns 48,588 shares of the real estate investment trust’s stock valued at $360,000 after buying an additional 8,621 shares in the last quarter. Koch Industries Inc. acquired a new position in Spirit Realty Capital during the second quarter valued at $188,000. Raymond James Financial Services Advisors Inc. raised its position in Spirit Realty Capital by 2.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 86,341 shares of the real estate investment trust’s stock valued at $640,000 after buying an additional 1,930 shares in the last quarter. Finally, Alta Fundamental Advisers LLC acquired a new position in Spirit Realty Capital during the second quarter valued at $1,112,000.

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Shares of Spirit Realty Capital (NYSE SRC) opened at 8.50 on Monday. Spirit Realty Capital has a 12-month low of $6.64 and a 12-month high of $13.95. The firm has a market cap of $3.90 billion, a P/E ratio of 64.39 and a beta of 0.55. The firm has a 50-day moving average price of $8.07 and a 200-day moving average price of $8.85.

Spirit Realty Capital declared that its board has authorized a stock buyback program on Monday, August 14th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to purchase up to 6.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

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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Earnings History and Estimates for Spirit Realty Capital (NYSE:SRC)

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