Spirit Realty Capital (SRC) Getting Somewhat Favorable Press Coverage, Report Shows
Press coverage about Spirit Realty Capital (NYSE:SRC) has trended somewhat positive on Monday, according to Accern Sentiment Analysis. The research firm scores the sentiment of news coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Spirit Realty Capital earned a media sentiment score of 0.19 on Accern’s scale. Accern also gave media stories about the real estate investment trust an impact score of 46.0130283075833 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
These are some of the media stories that may have impacted Accern Sentiment Analysis’s scoring:
- Spirit Realty Capital, Inc (SRC) Given Average Rating of “Hold” by Analysts (americanbankingnews.com)
- Spirit Realty Capital, Inc. (SRC)- Analysts Opinion Over Performance Valuation – Investing News Update (investingbizz.com)
- Spirit Realty Announces Closing of Series A Preferred Stock Offering and Exercise of Over-Allotment Option in Full (finance.yahoo.com)
- Analysts Anticipate Spirit Realty Capital, Inc. (SRC) Will Post Quarterly Sales of $161.85 Million (americanbankingnews.com)
- How These REIT Stocks are Performing? — Annaly Capital Management, New Senior … (prnewswire.com)
Spirit Realty Capital (SRC) opened at 8.41 on Monday. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 63.71 and a beta of 0.53. The company has a 50-day moving average price of $8.56 and a 200 day moving average price of $8.42. Spirit Realty Capital has a 1-year low of $6.64 and a 1-year high of $12.77.
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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $168.65 million during the quarter, compared to analysts’ expectations of $163.19 million. Spirit Realty Capital had a return on equity of 1.74% and a net margin of 9.47%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 earnings per share. Equities analysts anticipate that Spirit Realty Capital will post $0.21 earnings per share for the current year.
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. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.72 dividend on an annualized basis and a yield of 8.56%. Spirit Realty Capital’s payout ratio is 514.29%.
Spirit Realty Capital announced that its board has initiated a share repurchase plan on Monday, August 14th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the real estate investment trust to reacquire up to 6.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
Several analysts have recently issued reports on SRC shares. Mizuho upgraded Spirit Realty Capital from a “neutral” rating to a “buy” rating and upped their price objective for the company from $7.50 to $9.00 in a research report on Thursday, August 31st. BidaskClub upgraded Spirit Realty Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. ValuEngine lowered Spirit Realty Capital from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Bank of America Corporation upgraded Spirit Realty Capital from an “underperform” rating to a “buy” rating and upped their target price for the company from $6.50 to $9.75 in a research note on Wednesday, August 16th. Finally, Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Spirit Realty Capital in a research note on Friday, August 4th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Spirit Realty Capital currently has a consensus rating of “Hold” and a consensus price target of $9.92.
In other news, CFO Phillip D. Joseph, Jr. acquired 6,061 shares of Spirit Realty Capital stock in a transaction that occurred on Tuesday, August 8th. The stock was purchased at an average price of $8.25 per share, with a total value of $50,003.25. Following the completion of the transaction, the chief financial officer now owns 138,504 shares in the company, valued at $1,142,658. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Todd A. Dunn acquired 14,000 shares of Spirit Realty Capital stock in a transaction that occurred on Thursday, August 10th. The shares were purchased at an average cost of $8.49 per share, with a total value of $118,860.00. Following the transaction, 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. In the last three months, insiders have purchased 24,697 shares of company stock valued at $207,130. Insiders own 0.50% of the company’s stock.
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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