Cambridge Investment Research Advisors Inc. lessened its position in shares of Spirit Realty Capital, Inc. (NYSE:SRC) by 9.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 147,630 shares of the real estate investment trust’s stock after selling 15,229 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Spirit Realty Capital were worth $1,094,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. World Asset Management Inc lifted its holdings in shares of Spirit Realty Capital by 0.4% during the 2nd quarter. World Asset Management Inc now owns 24,245 shares of the real estate investment trust’s stock worth $180,000 after acquiring an additional 108 shares during the period. Cornerstone Wealth Management LLC lifted its holdings in shares of Spirit Realty Capital by 0.5% during the 1st quarter. Cornerstone Wealth Management LLC now owns 22,501 shares of the real estate investment trust’s stock worth $232,000 after acquiring an additional 120 shares during the period. Lincoln National Corp lifted its holdings in shares of Spirit Realty Capital by 1.2% during the 1st quarter. Lincoln National Corp now owns 18,027 shares of the real estate investment trust’s stock worth $183,000 after acquiring an additional 218 shares during the period. Investment Centers of America Inc. lifted its holdings in shares of Spirit Realty Capital by 2.6% during the 1st quarter. Investment Centers of America Inc. now owns 13,850 shares of the real estate investment trust’s stock worth $141,000 after acquiring an additional 350 shares during the period. Finally, 1st Global Advisors Inc. lifted its holdings in shares of Spirit Realty Capital by 1.1% during the 1st quarter. 1st Global Advisors Inc. now owns 38,296 shares of the real estate investment trust’s stock worth $388,000 after acquiring an additional 411 shares during the period. 94.38% of the stock is owned by institutional investors.

In other news, CFO Phillip D. Joseph, Jr. bought 3,636 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were bought at an average cost of $8.25 per share, with a total value of $29,997.00. Following the completion of the purchase, the chief financial officer now directly owns 138,504 shares in the company, valued at $1,142,658. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Todd A. Dunn bought 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was purchased at an average cost of $8.49 per share, for a total transaction of $118,860.00. Following the completion of the purchase, the director now owns 64,560 shares of the company’s stock, valued at $548,114.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 24,697 shares of company stock valued at $207,130. Company insiders own 0.50% of the company’s stock.

A number of equities analysts recently issued reports on SRC shares. BidaskClub upgraded shares of Spirit Realty Capital from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Morgan Stanley cut shares of Spirit Realty Capital from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $11.50 to $8.40 in a research report on Tuesday, May 9th. ValuEngine cut shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report on Friday. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Spirit Realty Capital in a research report on Friday, August 4th. Finally, Royal Bank Of Canada upped their price objective on shares of Spirit Realty Capital from $8.00 to $9.00 and gave the stock a “sector perform” rating in a research report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $10.33.

Spirit Realty Capital, Inc. (NYSE:SRC) opened at 8.70 on Tuesday. The firm has a market capitalization of $3.99 billion, a PE ratio of 65.91 and a beta of 0.53. Spirit Realty Capital, Inc. has a 12 month low of $6.64 and a 12 month high of $13.95. The firm has a 50-day moving average of $8.21 and a 200 day moving average of $8.76.

Spirit Realty Capital (NYSE:SRC) last announced its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. The firm had revenue of $168.65 million during the quarter, compared to analyst estimates of $163.19 million. Spirit Realty Capital had a net margin of 9.47% and a return on equity of 1.74%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 EPS. Equities research analysts forecast that Spirit Realty Capital, Inc. will post $0.21 earnings per share for the current year.

Spirit Realty Capital declared that its Board of Directors has approved a stock repurchase program on Monday, August 14th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

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About Spirit Realty Capital

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.

Institutional Ownership by Quarter for Spirit Realty Capital (NYSE:SRC)

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