Utah Retirement Systems Has $804,000 Stake in Spirit Realty Capital, Inc. (SRC)
Utah Retirement Systems lifted its holdings in shares of Spirit Realty Capital, Inc. (NYSE:SRC) by 4.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,505 shares of the real estate investment trust’s stock after purchasing an additional 4,505 shares during the quarter. Utah Retirement Systems’ holdings in Spirit Realty Capital were worth $804,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC acquired a new position in shares of Spirit Realty Capital during the 1st quarter worth $109,000. PNC Financial Services Group Inc. increased its stake in shares of Spirit Realty Capital by 24.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,684 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 2,265 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of Spirit Realty Capital by 51.5% during the 1st quarter. Penserra Capital Management LLC now owns 11,730 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 3,986 shares during the last quarter. New England Investment & Retirement Group Inc. acquired a new position in shares of Spirit Realty Capital during the 2nd quarter worth $100,000. Finally, Toronto Dominion Bank acquired a new position in shares of Spirit Realty Capital during the 1st quarter worth $141,000. Institutional investors own 94.38% of the company’s stock.
Several research analysts have recently commented on the stock. Bank of America Corporation upgraded shares of Spirit Realty Capital from an “underperform” rating to a “buy” rating and increased their price target for the stock from $6.50 to $9.75 in a research note on Wednesday, August 16th. BidaskClub upgraded shares of Spirit Realty Capital from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research lowered shares of Spirit Realty Capital from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 17th. Mizuho raised shares of Spirit Realty Capital from an “underperform” rating to a “neutral” rating and set a $7.50 price objective for the company in a report on Monday, July 10th. Finally, ValuEngine downgraded shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Spirit Realty Capital presently has an average rating of “Hold” and a consensus price target of $9.92.
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Shares of Spirit Realty Capital, Inc. (NYSE SRC) opened at 8.73 on Tuesday. Spirit Realty Capital, Inc. has a one year low of $6.64 and a one year high of $13.86. The firm has a 50-day moving average of $8.35 and a 200-day moving average of $8.66. The company has a market capitalization of $4.00 billion, a P/E ratio of 66.14 and a beta of 0.53.
Spirit Realty Capital (NYSE:SRC) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. Spirit Realty Capital had a net margin of 9.47% and a return on equity of 1.74%. The firm had revenue of $168.65 million for the quarter, compared to the consensus estimate of $163.19 million. During the same period in the previous year, the company earned $0.22 earnings per share. The company’s quarterly revenue was down 1.8% on a year-over-year basis. Equities research analysts expect that Spirit Realty Capital, Inc. will post $0.21 EPS for the current fiscal year.
Spirit Realty Capital declared that its board has approved a stock buyback plan on Monday, August 14th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
In related news, CFO Phillip D. Joseph, Jr. acquired 6,061 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were purchased at an average cost of $8.25 per share, for a total transaction of $50,003.25. Following the completion of the acquisition, the chief financial officer now directly owns 138,504 shares in the company, valued at $1,142,658. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Todd A. Dunn acquired 14,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was bought 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 $548,114.40. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 24,697 shares of company stock worth $207,130. Corporate insiders own 0.50% of the company’s stock.
Spirit Realty Capital 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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