Spirit Realty Capital, Inc. (NYSE:SRC) – Stock analysts at SunTrust Banks issued their FY2017 EPS estimates for Spirit Realty Capital in a research report issued to clients and investors on Sunday. SunTrust Banks analyst K. Kim anticipates that the real estate investment trust will earn $0.82 per share for the year. SunTrust Banks also issued estimates for Spirit Realty Capital’s Q4 2017 earnings at $0.20 EPS, FY2018 earnings at $0.83 EPS, FY2019 earnings at $0.83 EPS, FY2020 earnings at $0.84 EPS and FY2021 earnings at $0.86 EPS.

Spirit Realty Capital (NYSE:SRC) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. The business had revenue of $168.65 million for 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%. Spirit Realty Capital’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.22 EPS.

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Other equities research analysts also recently issued reports about the company. Bank of America Corporation raised Spirit Realty Capital from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $6.50 to $9.75 in a report on Wednesday, August 16th. BidaskClub raised Spirit Realty Capital from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Mizuho raised Spirit Realty Capital from an “underperform” rating to a “neutral” rating and set a $7.50 target price on the stock in a report on Monday, July 10th. Zacks Investment Research downgraded Spirit Realty Capital from a “hold” rating to a “sell” rating in a report on Tuesday, August 15th. Finally, ValuEngine downgraded Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $9.92.

Shares of Spirit Realty Capital (NYSE:SRC) opened at 8.67 on Wednesday. The firm’s 50-day moving average is $8.48 and its 200 day moving average is $8.56. The firm has a market capitalization of $3.97 billion, a P/E ratio of 65.68 and a beta of 0.53. Spirit Realty Capital has a one year low of $6.64 and a one year high of $13.86.

A number of institutional investors have recently bought and sold shares of the stock. World Asset Management Inc increased its position in Spirit Realty Capital by 0.4% during the second quarter. World Asset Management Inc now owns 24,245 shares of the real estate investment trust’s stock valued at $180,000 after acquiring an additional 108 shares during the last quarter. Cornerstone Wealth Management LLC increased its position in Spirit Realty Capital by 0.5% during the first quarter. Cornerstone Wealth Management LLC now owns 22,501 shares of the real estate investment trust’s stock valued at $232,000 after acquiring an additional 120 shares during the last quarter. Lincoln National Corp increased its position in Spirit Realty Capital by 1.3% during the second quarter. Lincoln National Corp now owns 18,259 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 232 shares during the last quarter. Investment Centers of America Inc. increased its position in Spirit Realty Capital by 2.6% during the first quarter. Investment Centers of America Inc. now owns 13,850 shares of the real estate investment trust’s stock valued at $141,000 after acquiring an additional 350 shares during the last quarter. Finally, Telos Capital Management Inc. increased its position in Spirit Realty Capital by 1.0% during the second quarter. Telos Capital Management Inc. now owns 49,633 shares of the real estate investment trust’s stock valued at $368,000 after acquiring an additional 510 shares during the last quarter. Institutional investors own 94.12% of the company’s stock.

In other news, Director Todd A. Dunn acquired 14,000 shares of Spirit Realty Capital stock in a transaction that occurred 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 transaction, the director now owns 64,560 shares in the company, valued at $548,114.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Phillip D. Joseph, Jr. acquired 3,636 shares of Spirit Realty Capital stock in a transaction that occurred on Monday, August 7th. The shares were purchased at an average price of $8.25 per share, with a total value of $29,997.00. Following the transaction, the chief financial officer now owns 138,504 shares of the company’s stock, valued at approximately $1,142,658. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 24,697 shares of company stock valued at $207,130. 0.50% of the stock is owned by company insiders.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 8.30%. The ex-dividend date is Thursday, September 28th. Spirit Realty Capital’s dividend payout ratio (DPR) is presently 514.29%.

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

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

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