Gruss Capital Management LP grew its stake in shares of Spirit Realty Capital, Inc (NYSE:SRC) by 56.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,375,000 shares of the real estate investment trust’s stock after acquiring an additional 2,650,000 shares during the period. Spirit Realty Capital accounts for approximately 5.5% of Gruss Capital Management LP’s portfolio, making the stock its 5th largest holding. Gruss Capital Management LP owned 1.62% of Spirit Realty Capital worth $63,204,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SRC. Vivaldi Capital Management LLC purchased a new stake in shares of Spirit Realty Capital in the second quarter worth $111,000. Chicago Equity Partners LLC purchased a new stake in shares of Spirit Realty Capital in the second quarter worth $119,000. Harvest Fund Management Co. Ltd raised its position in shares of Spirit Realty Capital by 123.3% in 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. Arete Wealth Advisors LLC raised its position in shares of Spirit Realty Capital by 12.5% in the second quarter. Arete Wealth Advisors LLC now owns 16,583 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 1,838 shares in the last quarter. Finally, Lincoln National Corp raised its position 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 worth $136,000 after buying an additional 232 shares in the last quarter. Institutional investors own 92.68% of the company’s stock.

SRC has been the topic of a number of research analyst reports. B. Riley reissued a “buy” rating on shares of Spirit Realty Capital in a research note on Friday, November 3rd. Mizuho set a $9.00 target price on Spirit Realty Capital and gave the company a “buy” rating in a research note on Sunday, October 22nd. Bank of America raised Spirit Realty Capital from an “underperform” rating to a “buy” rating and increased their target price for the company from $6.50 to $9.75 in a research note on Wednesday, August 16th. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of Spirit Realty Capital in a research note on Monday, November 13th. Finally, Zacks Investment Research cut Spirit Realty Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, August 15th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $9.47.

Shares of Spirit Realty Capital, Inc (NYSE:SRC) traded down $0.06 on Thursday, reaching $8.31. 4,767,800 shares of the company’s stock traded hands, compared to its average volume of 10,115,048. Spirit Realty Capital, Inc has a twelve month low of $6.64 and a twelve month high of $11.29. The stock has a market capitalization of $3,790.00, a price-to-earnings ratio of 9.85 and a beta of 0.17. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.19.

Spirit Realty Capital declared that its board has initiated a stock buyback plan 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 purchase up to 6.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

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

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