Ramsey Quantitative Systems lifted its holdings in Spirit Realty Capital, Inc. (NYSE:SRC) by 94.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,188 shares of the real estate investment trust’s stock after acquiring an additional 30,650 shares during the period. Spirit Realty Capital makes up approximately 0.5% of Ramsey Quantitative Systems’ investment portfolio, making the stock its 21st largest position. Ramsey Quantitative Systems’ holdings in Spirit Realty Capital were worth $468,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. World Asset Management Inc grew its stake in shares of Spirit Realty Capital by 0.4% in 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 in the last quarter. Cornerstone Wealth Management LLC grew its stake in shares of Spirit Realty Capital by 0.5% in 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 in the last quarter. Lincoln National Corp grew its stake in shares of Spirit Realty Capital by 1.3% in 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 in the last quarter. Investment Centers of America Inc. grew its stake in shares of Spirit Realty Capital by 2.6% in 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 in the last quarter. Finally, Telos Capital Management Inc. grew its stake in shares of Spirit Realty Capital by 1.0% in 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 in the last quarter. Institutional investors and hedge funds own 94.12% of the company’s stock.

Several equities analysts recently commented on the stock. Bank of America Corporation upgraded shares of Spirit Realty Capital from an “underperform” rating to a “buy” rating and upped their price target for the company from $6.50 to $9.75 in a research note on Wednesday, August 16th. BidaskClub raised shares of Spirit Realty Capital from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. 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 research report on Monday, July 10th. Zacks Investment Research cut shares of Spirit Realty Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, August 15th. Finally, ValuEngine cut shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $9.92.

In other Spirit Realty Capital news, CFO Phillip D. Joseph, Jr. acquired 3,636 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was bought at an average price of $8.25 per share, with a total value of $29,997.00. Following the completion of the acquisition, the chief financial officer now owns 138,504 shares of the company’s stock, valued at $1,142,658. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Phillip D. Joseph, Jr. acquired 6,061 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were acquired at an average cost of $8.25 per share, with a total value of $50,003.25. Following the acquisition, the chief financial officer now directly owns 138,504 shares of the company’s stock, valued at approximately $1,142,658. The disclosure for this purchase can be found here. Insiders have bought 24,697 shares of company stock valued at $207,130 in the last three months. 0.50% of the stock is owned by insiders.

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Spirit Realty Capital, Inc. (NYSE SRC) traded down 1.40% on Friday, hitting $8.44. 9,589,274 shares of the stock were exchanged. The company has a 50-day moving average price of $8.48 and a 200-day moving average price of $8.56. Spirit Realty Capital, Inc. has a 52-week low of $6.64 and a 52-week high of $13.86. The firm has a market cap of $3.87 billion, a PE ratio of 63.94 and a beta of 0.53.

Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 analyst estimates of $163.19 million. During the same quarter in the previous year, the firm earned $0.22 earnings per share. Spirit Realty Capital’s revenue was down 1.8% on a year-over-year basis. On average, equities research analysts anticipate that Spirit Realty Capital, Inc. will post $0.21 EPS for the current fiscal year.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 8.53%. The ex-dividend date is Thursday, September 28th. Spirit Realty Capital’s payout ratio is 514.29%.

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.

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

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