New York State Common Retirement Fund increased its stake in shares of Spirit Realty Capital, Inc. (NYSE:SRC) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,049,800 shares of the real estate investment trust’s stock after buying an additional 28,499 shares during the quarter. New York State Common Retirement Fund owned 0.22% of Spirit Realty Capital worth $7,779,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Teachers Insurance & Annuity Association of America grew its holdings in Spirit Realty Capital by 1.5% during the second quarter. Teachers Insurance & Annuity Association of America now owns 483,394 shares of the real estate investment trust’s stock worth $3,582,000 after buying an additional 7,238 shares in the last quarter. Harvest Fund Management Co. Ltd grew its holdings in Spirit Realty Capital by 123.3% during the second quarter. Harvest Fund Management Co. Ltd now owns 16,662 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 9,200 shares in the last quarter. Profund Advisors LLC grew its holdings in Spirit Realty Capital by 26.0% during the second quarter. Profund Advisors LLC now owns 23,932 shares of the real estate investment trust’s stock worth $177,000 after buying an additional 4,938 shares in the last quarter. Tricadia Capital Management LLC bought a new stake in Spirit Realty Capital during the second quarter worth $10,856,000. Finally, Amalgamated Bank grew its holdings in Spirit Realty Capital by 27.3% during the second quarter. Amalgamated Bank now owns 87,731 shares of the real estate investment trust’s stock worth $650,000 after buying an additional 18,820 shares in the last quarter. Institutional investors and hedge funds own 94.63% of the company’s stock.

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

Several equities research analysts recently issued reports on SRC shares. BidaskClub upgraded Spirit Realty Capital from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. ValuEngine downgraded Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Spirit Realty Capital in a report on Friday, August 4th. Royal Bank Of Canada upped their price target on Spirit Realty Capital from $8.00 to $9.00 and gave the stock a “sector perform” rating in a report on Friday, August 4th. Finally, Zacks Investment Research upgraded Spirit Realty Capital from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $9.92.

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Spirit Realty Capital, Inc. (NYSE SRC) opened at 8.42 on Wednesday. The firm has a 50-day moving average price of $8.56 and a 200-day moving average price of $8.37. Spirit Realty Capital, Inc. has a 52 week low of $6.64 and a 52 week high of $12.77. The company has a market cap of $3.86 billion, a P/E ratio of 63.79 and a beta of 0.53.

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

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 8.55%. The ex-dividend date is Thursday, September 28th. Spirit Realty Capital’s payout ratio is 514.29%.

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

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